Any News On Stages Cycling?

[MXLeader]

The last I read was that the Stages Cycling execs bolted to Giant and Giant made a $20M bid for the company. Any chance that the company is coming back under new ownership?

We're coming up to indoor cycling season and while my SB20 smart trainer has been flawless, it would be reassuring to know that there are service options available if needed.

Has anyone been left hung out to dry since Stages Cycling ceased operation?

[Jere]

Originally Posted by MXLeader

The last I read was that the Stages Cycling execs bolted to Giant and Giant made a $20M bid for the company. Any chance that the company is coming back under new ownership?

We're coming up to indoor cycling season and while my SB20 smart trainer has been flawless, it would be reassuring to know that there are service options available if needed.

Has anyone been left hung out to dry since Stages Cycling ceased operation?

Here’s a place that repairs them if that helps

https://www.tempopowermeters.com/pro...es-power-meter

[zzy]

Based on the service they had when they were in business I doubt you'd notice much difference now.

[MXLeader]

Originally Posted by zzy

Based on the service they had when they were in business I doubt you'd notice much difference now.

Seems like they were struggling financially for quite a while. There's a Facebook SB20 group that has reported that some SB20 smart trainer owners had techs come to their homes to fix issues. Sounded like the techs were from the side of the business side that kept their commercial smart trainers operating in fitness centers/gyms.

I've also seen that they were sending out replacement individual crank arms if the power meter calibration offset was out of spec.

When I bought my SB20 at a fantastic sale price two winters ago, one of the things that convinced me to drop that cash was that Stages had thousands of commercial trainers in fitness centers around the country. I wrongly figured that alone would help keep them solvent through the tough times.

[ojingoh]

From BRAIN:
Giant making bid to buy Stages Cycling from bankruptcy for $20 million

https://www.bicycleretailer.com/indu...ing-bankruptcy

Giant puts in a stalking horse bid of $20M for the patents and trademarks. A lot of engineers/business people have already joined Giant.

[rice rocket]

Someone is still paying the server bills, as I was able to login with my account and download the latest firmware last week.

[MXLeader]

Originally Posted by ojingoh

From BRAIN:
Giant making bid to buy Stages Cycling from bankruptcy for $20 million

https://www.bicycleretailer.com/indu...ing-bankruptcy

Giant puts in a stalking horse bid of $20M for the patents and trademarks. A lot of engineers/business people have already joined Giant.

The article gives quite a bit of detail that I haven't read before. Thank you.

Seems like complicated bankruptcy with 4 llc's under one overall management structure in different states. It even looks like the Stages Cycling assets in other countries are not part of this bankruptcy. Looks like Giant basically wants the IP.

But no word on additional bids or status after the early August deadlines.

The article notes that continued payments keeping the training website online was approved. I'm thinking that's how Ricerocket was able to download the latest firmware (even if the latest firmware is likely dated before the April bankruptcy filing)?

[jpang922]

https://road.cc/content/news/giant-a...-assets-310429

Giant acquires Stages Cycling brand and assets, months after suing power meter and indoor bike company for £16 million

The bike brand, which manufactured several Stages products before the US-based company ceased operations in April, said the acquisition “enhances our capabilities in both indoor and outdoor cycling”

Giant acquires Stages Cycling brand and assets, months after suing power meter and indoor bike company for £16 million
Five months after suing Stages Cycling for £16 million worth of unpaid invoices and already manufactured products, and recruiting four of its top executives, Giant has today announced that it has acquired the US-based power meter and indoor bike company’s brand and assets, a move the Taiwanese manufacturer says will “enhance” its indoor and outdoor cycling capabilities, while helping propel Stages’ “fantastic” brand into the future.

In April, it was first reported that Stages – perhaps best known for its power meters, which helped move that particular corner of the cycling market in a more budget-friendly direction when they were introduced in 2012 – had ceased operations and laid off all of its staff, as UK consumers were reassured that warranty claims would be covered by its distributor Saddleback.

Stages initially stopped supplying orders to suppliers and then ceased shipping to customers, the brand’s website showing most products as being unavailable at the time, although various models were still in stock at Saddleback.

Later that same week it emerged that AIPS (Advanced Intelligent Perpetual Solutions), a Giant subsidiary established in 2020 to develop and manufacture cycling technology including power meters, had filed a lawsuit against Stages in Oregon in February, alleging that the US-based company owed over £11 million from 161 unpaid invoices between June 2022 and January 2024, attributed to power meters, exercise bikes, other products and parts, and storage and shipping fees.

The complaint said that Giant also produced and is storing products that Stages ordered, valued at another £5.4 million.

At the same time, at least four high-ranking executives at Stages confirmed that they were moving to Giant, including Pat Warner, Stages’ former senior vice president of product research, who joined Giant as vice president of product research and design, and Paddy Murray, who is now Giant’s VP of global sales and marketing after serving in a similar capacity at Stages.

Then in July, another Giant subsidiary, Spia Cycling, made an initial stalking horse bid for Stages worth $20 million following the brand’s demise. Giant, in fact, had already shown interest in purchasing a one-third share in the ill-fated company last year, although negotiations fell through.

The company’s stalking horse bid for Stages meant that any rivals to Spia’s bid would have to place a minimum $21.5 million competing bid, as well as stump up for a $500,000 minimum overbid charge and a break-up fee, with the deadline for offers set for 1 August.

And on Thursday, former Stages executive Murray confirmed Spia Cycling has successfully acquired Stages’ brand and assets, a move Giant’s global sales and marketing executive says will “propel this fantastic brand into the future with the resource and support of the world's largest bike manufacturer”.

According to Giant, Spia purchased the key assets of the Stages Cycling brand from its parent companies, some of which filed for Chapter 11 bankruptcy protection in June (which allows the debtor to reorganise their business in order to pay creditors over time), including the brand’s intellectual property, manufacturing facilities, product lines, and limited inventory.

“We are thrilled to integrate Stages Cycling’s assets into our organisation,” Spia’s president Donald Yu said in a statement announcing the Giant subsidiary’s expansion into the commercial fitness sector and plans to “swiftly integrate” Spia’s assets into its operations.

“This acquisition aligns with our strategic goals and enhances our capabilities in both indoor and outdoor cycling. We are committed to leveraging these assets to drive innovation and deliver greater value to our customers and stakeholders.”

Giant also noted that the acquisition supports the manufacturer’s desire to create what it calls a “comprehensive indoor/outdoor cycling ecosystem”, enhance its cycling data capabilities, and enter the commercial fitness market, in which it has been manufacturing products for other brands for three decades.

“We’re thrilled about the opportunities this acquisition presents and the benefits it will bring to Stages Cycling’s dedicated customers,” Murray added.

“Our priority is to ensure a seamless transition while revitalising the Stages brand to address both current and future customer needs. This acquisition underscores the Giant Group’s ongoing commitment to growth and strategic expansion.”

Last month, Giant reported that its pre-tax profits slumped by 17 per cent during the first half of 2024, with sales down by 13 per cent – though the Taiwanese manufacturer nevertheless insisted that it expects its financial situation to “gradually” improve towards the end of 2024 as inventory issues that have plagued the bike industry in Europe and North America begin to normalise.

[MXLeader]

Very good news for those that own Stages products. I have no idea about the behind the scenes maneuvering over the last several months but it seems like Giant has plans to move the brand forward. Good news all around.

Thanks for the info!

[dolface]

Curious what that's going to mean for their OEM deals; will Giant stop speccing bikes w/ SRAM since they're now a competitor (seems unlikely?). Curious to hear from the folks who know more about how this stuff works...

[evo111@comcast.net]

https://www.bicycleretailer.com/indu...urchase-stages

[raisinberry777]

Originally Posted by dolface

Curious what that's going to mean for their OEM deals; will Giant stop speccing bikes w/ SRAM since they're now a competitor (seems unlikely?). Curious to hear from the folks who know more about how this stuff works...

Giant already equips its own brand 'Power Halo' on SRAM-equipped bikes at the Force and Rival level so I wouldn't expect this deal to change much.

[MXLeader]

Originally Posted by Jere

Here’s a place that repairs them if that helps

https://www.tempopowermeters.com/pro...es-power-meter

That's a real nice service if you have a single sided Stages crank-based power meters. Interesting that they swap out the stages power meter and adhere/calibrate their own in its place. In any case, they don't service the SB20 smart trainer. If they ever start handling dual sided power meters, maybe they'll expand to the SB20?