Colnago (the company) sold to Abu Dhabi based investment fund

[Polyglot]

It was just officially announced that Colnago was sold to an investment fund based in Abu Dhabi.

https://www.tuttobiciweb.it/article/2020/05/04/1588607536/ernesto-colnago-colnago-biciclette-chimera-investiments-llc-fondo-di-abu-dhabi-socio-per-colnago-cambiago?fbclid=IwAR2syCyxuk-xJxVcLjqiW0bPImoYuAkWLIC4Bv48enz0BwWkYIjyjFk5-Yk

The article is originally in Italian but if you scroll down there is also an English version.

[texbike]

Well that’s sad. Nothing F’s up a company’s culture like PE.

Texbike

[Johnnysmooth]

These sorts of things never turn out well for those of us who buy a brand for its unique leadership and innovation.

[Red Tornado]

Well that’s sad. Nothing F’s up a company’s culture like PE.

Texbike

These sorts of things never turn out well for those of us who buy a brand for its unique leadership and innovation.

Agree with both. Money can make some strange things happen but sad to see a company like this get swallowed up. Here's hoping nothing changes for worse....

[dbh]

Wonder how many years it will be until we start seeing generic Chinese mold frames being sold at closeout at Competitive Cyclist labeled as C64s?

[Clean39T]

Well that’s sad. Nothing F’s up a company’s culture like PE.

Texbike

https://cyclingtips.com/2020/03/from-the-top-podcast-building-rapha/

Interesting podcast with Simon Mottram that covers Rapha's growth and eventual acquisition by PE....

Quite a different scenario to Colnago but maybe some bits of it rhyme.

[peanutgallery]

The sheiks are all gonna have golden Colnagos to match their platinum Maseratis

The UAE loves to collect things. Weird place

[Polyglot]

I first heard rumors of this being underway a while ago, but this article is the first confirmation. I honestly do not think that it is such a bad thing for the company. It is embarrassing when well-funded companies without half the history or dynamism or unique leadership and innovation can easily outmaneuver a company like Colnago simply because of their economic might. For all its notoriety, Colnago remains a relatively small company, with revenues of about $25 million per year. Even if you have visionaries running the company it is hard to do the necessary research and so on when competing against companies like Trek, Giant and Specialized whose revenues are between 20 and 80 times as large.

The UAE cycling team uses Colnago bikes.

[robt57]

Well that’s sad. Nothing F’s up a company’s culture like PE.

Texbike


Just ask Cervelo, and look at the product line/support/reputation since...

[charliedid]

Good for Colnago, it's better than closing the doors and shrugging.

Bikes

[mcteague]

Whenever shareholder profits become the #1 concern, you can be sure the quality of the product will go down.

Tim

[dgasmd]

The sheiks are all gonna have golden Colnagos to match their platinum Maseratis

The UAE loves to collect things. Weird place


So sad when you are so poor all you have is money......

[parco]

Ernesto... Nooooo

[m_sasso]

Just one more reason to support your local custom builder, and I am Italian, this so called advancement doesn't sit well with me! Ernesto died before the breath went out of him. Addio!

[jpritchet74]

The C64 will be the last great Colnago frameset.

[Matthew]

Glad I have my made in Italy EPS!!! Wonderful bike. Hoping not too much changes but guessing it will. As said above, spend your money here and get a great custom from any number of excellent builders here in the states.

[fiamme red]

On a related note: has Merckx offered any interesting frames since the company was bought by Race Productions NV (which also owns Ridley) in 2017, or just the same frames that you could buy from a dozen other companies?

[prototoast]

Ernesto Colnago is 88 years old. He's had an incredible career, and built quite the company, but he is mortal. Ownership of the company was going to change hands soon, at least this way he has some control over where it lands.

Obviously private equity has a mixed track record, and we'll see where the company goes over the next 10-20 years, but I'll wait to see how things shake out before passing judgment. Bravo, Ernesto, you've done well.

[C40_guy]

Ernesto Colnago is 88 years old. He's had an incredible career, and built quite the company, but he is mortal. Ownership of the company was going to change hands soon, at least this way he has some control over where it lands.

Obviously private equity has a mixed track record, and we'll see where the company goes over the next 10-20 years, but I'll wait to see how things shake out before passing judgment. Bravo, Ernesto, you've done well.

Agreed. And the company would have gone for far less if Ernesto had not been part of the package. He did right by his heirs.

I'm still sad, tho.

[mkbk]

Good for Ernesto and his family, I have been fortunate enough to have had several of his frames. I still miss my Ariostea (sp?) painted Conic.

Could be a good time to acquire another Legend frame. Forza!

[boywander]

I surprised but hopefully. There's mixed feeling because there's no telling what's going to happen. But I think like most expressed feelings that it is better than the alternative.

Sent from my LG-M322 using Tapatalk

[zap]

Just ask Cervelo, and look at the product line/support/reputation since...

oh, what changed reputation wise?

[soulspinner]

52 sloper with Super Record in the Mapei please.

[zmalwo]

bye-bye to the Colnago Master line I guess. They will probably cut off anything that doesn't generate good revenue.

[Spaghetti Legs]

bye-bye to the Colnago Master line I guess. They will probably cut off anything that doesn't generate good revenue.

You know something had to happen Ernesto is is pretty old and if it was to stay in the family, you’d have seen someone else stepping forward by now. Truth be told, I feel better about this than if an American or British VC firm bought the company. A group of Middle Eastern sheikhs might be more tolerant of thin margins. Just a guess though.

Kind of a coincidence - I took the C40 out today for the first time in a few months. What a bike!

[el cheapo]

Ain't what it used to be...seems a lot of things fall into this category recently. It's all about the money!

[Polyglot]

Ernesto's brother Paolo passed away recently. His wife passed away recently. His son-in-law who was the brains behind all design at Colnago for perhaps the last 20 years is reaching retirement age. His nephew Alessandro is looked after with the plan laid out and his grandson Alessandro (Ernesto had him officially change his last name from Brambilla to Colnago) will be fine.

[Polyglot]

bye-bye to the Colnago Master line I guess. They will probably cut off anything that doesn't generate good revenue.

The Master frames were built by an outside frame builder who would come in for a short period once or twice a year. He would start up the frame building carrousel and build the frames requested and leave. Colnago made money on every frame, so this will not disappear.

[jpritchet74]

oh, what changed reputation wise?

That they made quality bikes. OK, that is a bit of an exaggeration.

[robertbb]

The Master frames were built by an outside frame builder who would come in for a short period once or twice a year. He would start up the frame building carrousel and build the frames requested and leave. Colnago made money on every frame, so this will not disappear.

Wow, seriously?

It's stuff like this that has had me hold off pulling the trigger on a Colnago over the past few years. Despite the name on the downtube, any connection to "cycling history" or to Ernesto the builder is a tenuous one at best. The man's never even laid eyes on that $$$ frame we can buy... let alone did he build it.

I kinda feel the same about Campy Record, btw. Everyone swoons over it because several decades (and multiple groupset generations) ago, that marque was synonymous with heritage and history.

But if the current generation of Chorus happened to say Record on it, for example, it'd somehow be a more desirable groupset would it? It'd add value and magically connect the bike (and rider) to it's ancestors...

Anyway, I digress.

[rallizes]

The Master frames were built by an outside frame builder who would come in for a short period once or twice a year. He would start up the frame building carrousel and build the frames requested and leave. Colnago made money on every frame, so this will not disappear.

who is the builder?

[ultraman6970]

The old stuff will increase value???

Wonder what they will do, what they will do with the people that was working in italy? they will close the shop and send eveything to asia leaving just painting in italy just to be able to have a sticker made in italy?

Hope whatever it happens is not a disaster.

[merckx]

Wow, seriously?

It's stuff like this that has had me hold off pulling the trigger on a Colnago over the past few years. Despite the name on the downtube, any connection to "cycling history" or to Ernesto the builder is a tenuous one at best. The man's never even laid eyes on that $$$ frame we can buy... let alone did he build it.

I kinda feel the same about Campy Record, btw. Everyone swoons over it because several decades (and multiple groupset generations) ago, that marque was synonymous with heritage and history.

But if the current generation of Chorus happened to say Record on it, for example, it'd somehow be a more desirable groupset would it? It'd add value and magically connect the bike (and rider) to it's ancestors...

Anyway, I digress.

Did you really think, Ernesto, an 88 year old man, had sparked up the torch to build your MXL? Or for that matter, did you think he has build any frames in the last 40 years or so?

[Elefantino]

Makes me want to throw $2,237 at that C50.

[FlashUNC]

Wow, seriously?

It's stuff like this that has had me hold off pulling the trigger on a Colnago over the past few years. Despite the name on the downtube, any connection to "cycling history" or to Ernesto the builder is a tenuous one at best. The man's never even laid eyes on that $$$ frame we can buy... let alone did he build it.

I kinda feel the same about Campy Record, btw. Everyone swoons over it because several decades (and multiple groupset generations) ago, that marque was synonymous with heritage and history.

But if the current generation of Chorus happened to say Record on it, for example, it'd somehow be a more desirable groupset would it? It'd add value and magically connect the bike (and rider) to it's ancestors...

Anyway, I digress.

You'll be shocked to also learn Dave Thomas didn't grill every cheeseburger at Wendy's. And Ben & Jerry don't stuff every pint of Chunky Monky in the supermarket freezer.

[Coffee Rider]

Since I'm not a Colnago guy, I don't have particularly strong feelings about this, but I do think it will be a shame if the top bikes are no longer made in Italy since that was the biggest thing other than the people connect the present with the past.

[Mikej]

Is Moots is doing ok after being bought?

[robertbb]

Did you really think, Ernesto, an 88 year old man, had sparked up the torch to build your MXL? Or for that matter, did you think he has build any frames in the last 40 years or so?

Exactly!

[robertbb]

You'll be shocked to also learn Dave Thomas didn't grill every cheeseburger at Wendy's. And Ben & Jerry don't stuff every pint of Chunky Monky in the supermarket freezer.

Will I?

[peanutgallery]

I see 2 dirty, hippy-looking elves drop off the chunky monkey at my local grocery every week

You'll be shocked to also learn Dave Thomas didn't grill every cheeseburger at Wendy's. And Ben & Jerry don't stuff every pint of Chunky Monky in the supermarket freezer.

[FlashUNC]

Will I?

Are you?

We can answer questions with questions for awhile.

[maxim809]

Dang. Is this a good time to stock up on some Colnago's?

[robertbb]

Are you?

We can answer questions with questions for awhile.

Can we though?

[FlashUNC]

Can we though?

Why not?

[charliedid]

What was the question?

[choke]

What was the question?
What is the flight velocity of an unladen swallow?

[charliedid]

What is the flight velocity of an unladen swallow?

Can you please repeat the specials?

[54ny77]

Colnabudabi?

[Spaghetti Legs]

Did you really think, Ernesto, an 88 year old man, had sparked up the torch to build your MXL? Or for that matter, did you think he has build any frames in the last 40 years or so?

I don’t think Ernesto was ever a frame builder. He was a good mechanic and even better business man.

[gngroup]

I saw this post right before I headed out for a ride. I decided to grab my favorite bike of all time:

https://uploads.tapatalk-cdn.com/20200505/75d280725770230e726ce7f286fe0c1d.jpg

[Matthew]

After a respray by Wanta. Zabel scheme in Ford Grabber blue

[Matthew]

Another pic

[Matthew]

Shots from a couple years ago. Got this from Robj. Great all round race bike. Tried to upload another pic but said I already used it.

[Matthew]

Love that Mapei scheme. Classic

[oldpotatoe]

Is Moots is doing ok after being bought?

VERY well, better than ever...They have come up with VERY timely designs..sell more frames these days(well before the 'bug') then ever. BUT a little different. The owner is very involved, not like some PE or VC gig from the sand box.

[paredown]

If you think what held Colnago's distribution/production back was lack of capital, then access to real money may make it easier for them to produce more (and possibly even better) bikes.

If they bought it with an eye to turning it into a cash cow, then this is the beginning of the end.

I tend to think that (like Campagnolo) it is a niche market brand--and in recent years they have come out with a succession of entry level bikes that have not sold well, despite having the pedigree and a good bit of trickle-down design from the brand icons like the C50 and up. They don't have the factory outlets like Giant/Trek so they are likely never going to be a mass-market bike. And with all of the innovation taking place at the top end of the market, they face stiff competition like everyone else.

So they are probably the size that makes sense now so I don't see a huge upside. It's like recognizing that Campagnolo is not likely to win back the OEM business from Shimano--that ship has sailed. So I can see more (and better) "brand extensions" to make it more of a lifestyle brand--but that could go either way.

I just hope they don't fark up the core bike business.

[gravity]

I’m shocked but not really surprised by this acquisition news. After all what happened to Pinarello, this shouldnt come as a surprise.

But I’m more surprised that most of us the posts above think that this Private Equity firm will just push this brand to the point that it can diminish the brand’s value. I guess we are all an expert in business, marketing, branding etc etc...


Sent from my iPhone using Tapatalk

[GonaSovereign]

After a respray by Wanta. Zabel scheme in Ford Grabber blue
Nice. The EPS is the last bike made with ATR-built tubes manufactured in Italy.

[oldpotatoe]

It's interesting that Colnago is the next to last of the 'big boys' who have been bought, by non 'bike' companies. Pinarello, Merckx, now Colnago. Only DeRosa stands alone as still owned by the DeRosa family..is that correct?

[KJMUNC]

After all what happened to Pinarello, this shouldnt come as a surprise.

This was my first thought too: Pinarello has boomed since being bought by a PE firm (helped significantly be being associated with Sky/Ineos and under a bunch of Grand Tour winners). Guessing Colnago's buyers have a similar investment thesis, but who knows. Hopefully they'll find a way to continue the legacy.

Colnago was always a halo brand for me....I've owned 3 C50's (funny I still remember the paint codes- PR23, PR00, and a beautiful F-16 version) and my all time favorite C-40 Mapei.

[cnighbor1]

Ernst Colnago Basement
I just read that he was using his homes basement to make the carbon fiber frames
What happens to that operation?
I assume all frames sourced from china now on

[foggypeake]

It's interesting that Colnago is the next to last of the 'big boys' who have been bought, by non 'bike' companies. Pinarello, Merckx, now Colnago. Only DeRosa stands alone as still owned by the DeRosa family..is that correct?

I believe that you are correct, although one of DeRosa's sons started Bixxis after splitting from the company.

I had previously read somewhere that there was a deal in place for Giant to take over Colnago, as Giant makes some of their carbon models in Taiwan.

Maybe this will work as well as it did for Pinarello, and hopefully it works better than what it did for Merckx.

[C40_guy]

Ernst Colnago Basement
I just read that he was using his home's basement to make the carbon fiber frames
What happens to that operation?
I assume all frames sourced from china now on

I'd suggest that your assumption will be incorrect. There's no reason to move low volume production from Italy.

And with regard to the "home's basement"...I saw a recent article that referenced this, but wasn't clear in meaning.

Here is an older article (https://www.bikeradar.com/news/colnago-headquarters-tour/) that is more clear:


While Colnago now make many of their products overseas, the C59 (and CF8 and CF9) are still made in-house. The carbon tubes come from the nearby Veneto region and each frame is handbuilt in a basement factory that’s under Mr Colnago’s house and just across the street from the corporate office.

So while many small bike frame builders can attest to working in their garage, the Italian style of Colnago is to build it in the basement. Each C59 takes about four hours to build, where each tube is glued together, followed by 45 minutes in a jig in an oven. There’s only one jig per size, meaning that production is slow yet also precise. Frames are constructed and then sent to a painter outside of Florence before being returned to Milan.

And the workshop doesn't really look like a typical homeowner's basement...

[b33]

Man, remember that time you could buy a hand-welded aluminum frame for about $600 - and made in the commonwealth of Pennsylvania? Had great welds that were sanded down, those frames were on a world-class Italian team with multiple Giro winners, top 3 in Paris Roubaix and the world's most awesome sprinter who also had style and panache.

Then PE came along and moved those frames to oversees and sanding the welds meant more money . . . the world team they sponsor now is a bunch of B riders with a bad kit and ever worse helmets.

Man, I miss Wordperfect, Mapei, Robobank

Voeckler, Tafi, Museeuw, Merckx, Dekker, Boogerd, Sarronni, Zabel . . . .

Heck, Tafi snuck his C40 into his CSC days back when they rode Cervelo Super Prodigy and that was a good bike!!!! Wiggins had it right - when asked what the most iconic bike was he said "C40."

Tafi rides a C64 with Mapei paint. I might join him.

[verticaldoug]

This was my first thought too: Pinarello has boomed since being bought by a PE firm (helped significantly be being associated with Sky/Ineos and under a bunch of Grand Tour winners). Guessing Colnago's buyers have a similar investment thesis, but who knows. Hopefully they'll find a way to continue the legacy.

Colnago was always a halo brand for me....I've owned 3 C50's (funny I still remember the paint codes- PR23, PR00, and a beautiful F-16 version) and my all time favorite C-40 Mapei.

Not all PE is the same. The PE company which bought Pinarello is associated with Bernard Arnault family office and LVMH. I think Arnault, knows luxury and marketing.

I'm not sure a small unknown PE firm in the UAE will have the same success.

[ToonaBP]

[QUOTE=b33;2712523]Man, remember that time you could buy a hand-welded aluminum frame for about $600 - and made in the commonwealth of Pennsylvania?

Yeah....those were the days..... :beer:

[FlashUNC]

Man, remember that time you could buy a hand-welded aluminum frame for about $600 - and made in the commonwealth of Pennsylvania? Had great welds that were sanded down, those frames were on a world-class Italian team with multiple Giro winners, top 3 in Paris Roubaix and the world's most awesome sprinter who also had style and panache.

Then PE came along and moved those frames to oversees and sanding the welds meant more money . . . the world team they sponsor now is a bunch of B riders with a bad kit and ever worse helmets.

Man, I miss Wordperfect, Mapei, Robobank

Voeckler, Tafi, Museeuw, Merckx, Dekker, Boogerd, Sarronni, Zabel . . . .

Heck, Tafi snuck his C40 into his CSC days back when they rode Cervelo Super Prodigy and that was a good bike!!!! Wiggins had it right - when asked what the most iconic bike was he said "C40."

Tafi rides a C64 with Mapei paint. I might join him.

Tough to make that argument when the reigning winner of the Ronde is from that team. Not a race won by soft riders.

https://lh3.googleusercontent.com/proxy/qEd1xVlupZI6aqHU6BUOwLVyWLm3qaqGvKcE72RAqqOiD8EIJa kmOVa7nv4iPKpEQRvosJdv_XBMTesEYVT3NdsX6CQ0w3Ng4RNU gxjDh8zeXHS2RxmQxs0rPHf9neDh5wfpd07W

[b33]

Tough to make that argument when the reigning winner of the Ronde is from that team. Not a race won by soft riders.


I'm very comfortable saying Mapei > EFF or Robobank > EFF or EFF < Word Perfect or Saeco > EFF. I typically don't argue over these things.

[FlashUNC]

I'm very comfortable saying Mapei > EFF or Robobank > EFF or EFF < Word Perfect or Saeco > EFF. I typically don't argue over these things.

Yes but that's also not what you said, but instead said Cannondale is a bunch of B riders.

Bettiol is anything but.

Now if you want a empty calories B rider, Voeckler all day. He's won as many Monuments as everyone in this thread. Even putting him in the same sentence as Merckx is an insult to the GOAT.

[b33]

Now if you want a empty calories B rider, Voeckler all day. He's won as many Monuments as everyone in this thread. Even putting him in the same sentence as Merckx is an insult to the GOAT.

"Eddy Merckx once rode a nago as did Voeckler." That sentence is correct, factual and in no way an insult to Merckx.

"Eddy Merckx and I have ridden the same bike." That sentence is also correct, factual and in no way an insult to the G.O.A.T. And I'm about a Y level racer if Voeckler is a B.

When it comes to panache: Bettiol < Voeckler. And the Italians have culturally appropriated "panache" from the French . . . but not in this instance.

I'm also OK with a low thread count.

[FlashUNC]

"Eddy Merckx once rode a nago as did Voeckler." That sentence is correct, factual and in no way an insult to Merckx.

"Eddy Merckx and I have ridden the same bike." That sentence is also correct, factual and in no way an insult to the G.O.A.T. And I'm about a Y level racer if Voeckler is a B.

When it comes to panache: Bettiol < Voeckler.

I'm also OK with a low thread count.

Panache is a daring solo attack to win a Monument. Panache is not a pointless attack off the front of a relaxed peloton in the middle of a Grand Tour just to suck up a couple hours of TV time with the kind of hammy facial acting that would get you booed out of community theater.

Voeckler's best known for not winning races and nonsense attacks. He was a glorified ham. Saavy marketer, terrible bike racer.

If you're looking for stars on Colnagos, there's far more notable names.

[b33]

If you're looking for stars on Colnagos, there's far more notable names.

Agreed. And when I was writing a quick post searching my head for names his came up. It's an internet post not a dissertation and the point was valid. Panache definition: connotation of flamboyant manner.

But still . . . . EFFx5 is still < Mapei

Here is a visual of "Panache."

[Dave]

All but the C64 carbon frames are already Asian made, so maybe not a lot will change, compared to current day. The company is already much different than in the past. I've owned two new C-40 frames and liked them a lot, but I tend to not keep frames for a long time.

I have two of the Asian made C-RS frames that are working well for me. As I near 67 years old, those might be my last two bikes, before I have to hang it up for good.

[Spaghetti Legs]

Wherever they end op making the top end frames, I hope that guy with the fabulous hair is still involved.

[charliedid]

Wherever they end op making the top end frames, I hope that guy with the fabulous hair is still involved.

That guy's hair is epic.

[Llewellyn]

That guy's hair is epic.

Business at the front and party at the back :)

[binxnyrwarrsoul]

Have two of their icons, a C-40HP and Master X Light (Columbus Gilco and Art Decor 4 neon disco paint, thank you very much), and still on the hunt for the last piece of the tricfecta, a C-59 trad.. Iconic brand, since my teen years, (52) Sad to see the money guys buying it, rarely ends well. I have the ones that matter, yesterday, today and tomorrow. Ernesto can now smell the flowers and wake up late. Chapéu.

[slambers3]

I have a hard time believing it isn’t in the investors financial interest to preserve some degree of Italian manufacturing in the plan moving forward, as so much of Colnago’s brand value is connected to the company’s Italian heritage.