Abra-Cadabra Fabrication, Advised By Bell Lap Advisors, Acquires Waterford And Gunnar

Date

May 2025

Client

Abra-Cadabra Fabrication / Sanitas Cycles

Service

Buy-Side M&A Advisory

Seller

Richard Schwinn, Waterford Precision Cycles

Cycling, Steel Frames, Custom Framebuilding, Manufacturing, Brand Acquisition, Made In USA

Abra-Cadabra Fabrication, the Durango, Colorado parent of the titanium Sanitas Cycles brand, acquired the Waterford and Gunnar bicycle brands from Richard Schwinn. Terms of the transaction were not disclosed. The transaction covered the brands’ intellectual property, including trademarks, frame designs and websites, with production moving to Abra-Cadabra’s Durango facility.

Abra-Cadabra Fabrication was advised on the buy-side by Bell Lap Advisors.

Waterford Precision Cycles was founded in 1993 by Richard Schwinn and Marc Muller, who acquired Schwinn Bicycle Company’s Paramount Design Group facility in Waterford, Wisconsin. Schwinn is the great-grandson of Schwinn founder Ignaz Schwinn and served as the company’s vice president of production; Muller designed Schwinn’s hand-built Paramount racing bikes. The company built custom steel frames for road, track and cyclocross, and produced frames for Rivendell Bicycle Works, Salsa Cycles, Milwaukee Bicycle Co. and Shinola Detroit. Gunnar Cycles was launched as Waterford’s stock-geometry sibling brand, offering TIG-welded steel frames at a lower price point. Both ceased operations in 2023 on Schwinn’s retirement.

Schwinn said of the transaction, “I’m so happy that we could pass Gunnar and Waterford on to people who’ve earned an excellent reputation for craftsmanship, and who build quality bikes in the United States. They will bring fresh ideas to these brands but will still be guided by the wisdom borne of experience.”

Abra-Cadabra Fabrication is owned by John Siegrist, his son David Siegrist, and Brad Swaim, and has decades of custom frame fabrication and contract manufacturing experience. John Siegrist founded Dean Titanium Bikes in Boulder, Colorado in 1989. The company launched the Sanitas Cycles titanium brand in 2022. Adding Waterford and Gunnar brings steel construction and stock-geometry price points alongside its custom titanium work.

David Siegrist noted, “We’re excited to blend Gunnar and Waterford’s great designs and reputation with the capabilities of our team and facilities.”

Bell Lap Advisors, which advised Abra-Cadabra Fabrication on the buy-side, is a leading M&A advisory firm focused exclusively on outdoor recreation and active lifestyle industries. Bell Lap Advisors is the most experienced M&A adviser for the cycling industry, globally.

If you have questions about the M&A process, reach out to us today for a free, no obligation consultation.

NOTES
Sources: Bicycle Retailer and Industry News, May 15, 2025; Bikerumor; The Radavist.