“We’ve been looking for an opportunity to expand our product offering but we weren’t willing to compromise on service standards and overall commitment to our customers,” said Mitch Lamb, CEO “That is why this acquisition was so appealing to us.
SALT LAKE CITY, Utah (PRWEB) January 07, 2016
The acquisition will provide a complementary and counter-seasonal product offering for L9 Sports. The two companies have much in common including a humble beginning and a growth trajectory that is nearly identical. The transaction enables both entities to benefit from operational redundancies while maintaining a focus and commitment to a customer base that is very similar.
“We’ve been looking for an opportunity to expand our product offering but we weren’t willing to compromise on service standards and overall commitment to our customers,” said Mitch Lamb, CEO of L9 Sports. “That is why this acquisition was so appealing to us. The Bikewagon team has done a great job of offering a product mix that provides tremendous value to their customers while maintaining great service levels… they will be a great fit with our team.”
The management team of Bikewagon lead by its Founder and CEO Dale Majors, will continue indefinitely with L9 Sports and will be responsible for all bike operations. Bikewagon has experienced healthy growth in revenue and net income since its inception in 2005 and the joining of the two companies ensures that trend will continue for years to come. It is anticipated L9 Sports will maintain both websites (Levelninesports.com and Bikewagon.com) simultaneously and fulfill all orders from L9’s distribution center in Woods Cross, Utah.
As an e-commerce company with multiple physical retail stores, L9’s goal is to provide as much value as possible to the middle-market outdoor enthusiast. “We have an intense focus on the value of our ‘brick and click’ strategy (i.e. online and retail combination) and refuse to forget the ‘average’ consumer,” said Lamb. “This acquisition actually allows us to do that better and we are excited about it.”