Cannondale Bicycle Corporation

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Cannondale Bicycle Corporation.
Type Private
Founded 1971
Headquarters Bethel, Connecticut
Industry Bicycles
Products Bicycle and Related Components
Revenue undisclosed
Employees undisclosed
Website www.cannondale.com

The Cannondale Bicycle Corporation is a major American bicycle manufacturer, headquartered in Bethel, Connecticut USA with manufacturing in Bedford, Pennsylvania USA. The company was founded in 1971 by Joe Montgomery to manufacture backpacks and bags for camping and later bicycle trailers for bicycle touring. Today, Cannondale produces many different types of bicycles, specializing in aluminum (rather than steel, titanium or carbon fiber) frames at mass-market prices, a technology in which they were pioneers. The name of the company was taken from the Cannondale Metro North train station in Wilton, Connecticut.[1]

In the late 1990s Cannondale attempted to move into the motorsports business, producing a line of off road motorcycles and all-terrain vehicles. According to an interview with Cannondale Communications Director, Tom Armstrong, the company was unable to drive down the cost of their motor vehicles fast enough. Sales took off when the company was still losing money on each motorbike they shipped. This gap drove the company to seek bankruptcy protection in 2003. However, management was able to quickly sell the company off to the private equity firm Pegasus Partners, which supported the company's renewed focus on bicycle production.[2]

Contents

[edit] Ownership

Originally founded by Joe Montgomery, Cannondale was a privately held company until a $22 million 1995 IPO.[3] The business continued as a publicly traded company (NASDAQ: BIKEQ) until declaring bankruptcy on January 29, 2003.[4] Cannondale's full assets were then purchased at auction by Pegasus Partners II, L.P.[5]. The motor-sports IP, manufacturing equipment and inventory were quickly sold off as the company returned its focus to bicycle manufacture. In March 2007, Cannondale announced that basketball superstar LeBron James had become an owner of the company.[6]

In February 2008, Dorel Industries, a diversified consumer products company, announced the purchase of Cannondale from Pegasus for approximately $200 million. Dorel already owned several bicycle brands including Pacific, Schwinn and GT.

[edit] Products

[edit] Bicycle Frames

Cannondale began manufacturing aluminum racing and touring frames in 1983, with mountain bike frames added later. The earlier models sported oversized aluminum tubes for increased stiffness, resulting in frames that were super-stiff and super-efficient.

[edit] 2008 Manufactured Models

[edit] Mountain

[edit] Full Suspension
  • Judge (Frame only) (Downhill)
  • Perp (Free Ride)
  • Gemini (Downhill / Free Ride)
  • Prophet (All-Mountain)
  • Rush (XC Race/All-Mountain)
  • Scalpel (XC Race)
  • Rize (All-Mountain/2009 Model)
  • Moto (Enduro/2009 Model)

[edit] Hardtail
  • Taurine (XC Race)
  • Caffeine (XC)
  • Caffeine 29er (XC 29er)
  • Hardtail (Recreation)
  • 1FG 29er (XC 29er Singlespeed)
  • Chase (Dirt Jumping) Designed by freerider Aaron Chase
  • F1, F2, F3, F4, F5 ( All Terrain)

[edit] Road

  • Slice (Triathlon)
  • SystemSix (Racing)
  • SuperSix (Racing)
  • Six13 (Racing)
  • Capo (Track Racing)
  • CAAD9 (Racing)
  • CAAD8 (Racing/Training)
  • Cyclocross (Cyclocross Racing)
  • Synapse (Racing)

[edit] Recreation

  • Road Warrior (Recreation)
  • Comfort (Recreation)
  • Adventure (Recreation)
  • Daytripper (Recreation)

[edit] Urban

  • Street (Recreation)
  • Bad Boy (Commuting)
  • Capo (Single Speed)

[edit] Specialty

  • Touring (Multi-day/week Adventures)
  • Tandem (Built for two people)

[edit] CAAD frames

The first road frame from Cannondale was produced in 1983. It sold for $350 and included the frame and fork. The fork was steel with helical reinforcement ribs inside the steel steering tube. The frame was instantly recognized for the oversized down tube and enlarged head tube. The seat-stays and chain-stays were ovalized to reduce flex. Unlike steel frames, there were no lugs; the aluminum tubes were mitered, hand welded and then heat treated.

The first frames were available in two colors; red and white, and painted with DuPont Imron paint. Cannondale achieved the distinction and goal of becoming the first high volume producer of aluminum frames, at a time when only steel frames were mass produced and aluminum was hand made in low volumes.

Cannondale marketed subsequent frames with the CAAD designation (for "Cannondale Advanced Aluminum Design"). The CAAD4 model introduced S-bend aluminum seat stays for improved comfort.

The Six13 model was introduced in 2004 which uses carbon tubed sections in the main triangle but still uses aluminum rear triangles, contrary to the usual practice of using carbon rear triangles and aluminum fronts. It should also be noted that the Union Cycliste Internationale has established a 6.8 kg (14.97 lb) minimum weight limit. Cannondale advertised this light weight frameset with the slogan "Legalize my Cannondale". In reality, only the smallest size (50cm) of bike actually approached the 6.8 kg limit. Some in the bicycle industry considered this to be a creative marketing effort because Six13 frames in fact weighed the same as or more than competing frames from other manufacturers.[7]

The current generation of Cannondale aluminum frame in the 2007 model year is known as CAAD9. CAAD9 is the continued evolution of Cannondale's welded aluminum frame design. CAAD 9 has reduced weight and increased stiffness over last year's CAAD8 design.

[edit] Carbon frames

In 2005 Cannondale announced its first all-carbon frame in a model named "Synapse." The Six13 models are co-molded aluminum frames with carbon top and down tubes.

[edit] Innovations

[edit] Suspension Forks

Cannondale with 'Lefty' fork racing at Fort William, Scotland
Cannondale with 'Lefty' fork racing at Fort William, Scotland

Cannondale has also developed a suspension fork called the Lefty. It started with the "Headshok" forks. It uses 88 bearings to reduce friction for smooth travel with the bearings telescoping inside the steerer tube of the fork. This eliminates flexing of the fork legs and also eliminates static friction, which must be overcome before the fork begins to travel.

The "Lefty" is an unusual looking fork because it only has a left side or blade. It uses the same technology as the Headshok, but desire for greater amounts of travel led to the movement of the telescoping unit off to the side to allow room for the travel. The Lefty is now seen on many of Cannondale's high-end models, such as all the Scalpels and the expensive models in F series, both cross-country lines. Continual efforts at weight reduction have provided models with a carbon fiber upper tube and a titanium spindle. The titanium spindle was later replaced with a lighter and stiffer forged aluminum version. The carbon fiber upper continues to be used on the highest end Lefties.

To date one of the main drawbacks of the Lefty fork is the price, which is significantly more than traditional design dual stanchion forks. The availability of repair and rebuild components and experienced service technicians for Cannondale forks is much less widespread than Fox, Manitou and Marzocchi designs. This continues to limit the Lefty to mid and high end bikes. Use of a Lefty fork also limits a rider's choice of stem, headset and front wheel, all but forcing them to use Cannondale house brand parts, or Cannondale-specific parts made by another company. Lefty forks are also only compatible with disc brakes.

There are four current types of leftys as 2008; Carbon SL--Carbon DLR2--DLR Bondeded--DLR; Listed in order from best to lower end models

[edit] Components

Cannondale developed a proprietary bottom bracket and crankset technology called Hollowgram which has been featured in its high-end bikes since 2001. The crank and bottom bracket set weigh 80 grams less and are 10% stiffer than Dura-Ace.[8] The hollowgram bottom bracket shell can accept standard 68 mm English-threaded bottom bracket cartridges and external bearing cranksets through the use of an adapter. The aluminum Hollowgram crank is a two piece hollow shell that is bonded with aluminum glue. The Hollowgram bottom bracket axle is also hollow aluminum and oversized.

Cannondale has brought a few concepts to market that have since become accepted industry standards. Cannondale was the first to produce a crankset that uses externally mounted bottom bracket bearings, though they later discontinued this design. External bearings are now the most common type of bottom bracket for mid-level and higher bicycles. In 1992 Cannondale introduced the Headshok and the accompanying over-sized headtube.[9] In 2001 the OnePointFive standard emerged using similar headtube dimensions as the Headshok headtube.

Less successfully, Cannondale MTBs produced in the mid-1990s used the Gary Fisher "Evolution", or 1 1/4" headset standard, in common with Fisher's own bikes and Santana tandems. Although a larger headset seemed technically sound, the industry standardized instead upon the Tioga "Avenger", or 1 1/8" size, and headsets or stems for these bikes are now hard to find. A solution for cherished machines is to fit reducing rings and convert to a 1 1/8" headset, fork and stem.

[edit] Pro sponsorship

Cannondale's sponsorship of Division 1 road racing teams began with the Saeco team in the late 1990s, highlighted by Mario Cipollini's four consecutive stage wins in the 1999 Tour de France. The team notably won the Giro d'Italia three times, in 1997 with Ivan Gotti, in 2003 with Gilberto Simoni and 2004 with Damiano Cunego. Saeco became Lampre-Caffita in 2005, and the relationship with Cannondale was severed. In 2007, Cannondale began sponsoring Team Liquigas, and counted a fourth Giro win as Danilo Di Luca rode to victory on a Cannondale SystemSix road bike. They also sponsored Barloworld in 2007 on the Tour de France.

On the mountain biking circuit, Cannondale is a sponsor for the Cannondale-Vredestien (formerly Volvo/Cannondale) racing team, the Bear Naked/Cannondale racing team (formerly SoBe/Cannondale) and various individual 24-hour racers such as Bicycling Hall of Famer and US National 24 hour Champion Tinker Juarez. A large number of notable riders have been sponsored by Cannondale at some point in their career, including world champions Anne-Caroline Chausson and Missy Giove, Olympic Silver medalist (and World Champion) Alison Sydor, Bronze medalist Christoph Sauser, "Flyin" Brian Lopes, Cadel Evans, Kashi Leuchs, Libor "The Bouncing Czech" Karas, Martyn Ashton, Lance Trappe, Aaron Chase, Myles Rockwell, Cedric Gracia, Roel Paulissen and Fredrik Kessiakoff.

In triathlon racing, Cannondale has sponsored 2005 Ironman world champion Faris Al-Sultan, Dejan Patrčević, Croatian triathlon champion, as well as Sarah Reinertsen, the first amputee woman to finish the Ironman Triathlon, 2004 Paralympics 200 IM gold medalist Rudy Garcia-Tolson.

[edit] Primary competitors in U.S. market

[edit] See also

[edit] References

  1. ^ Cannondale Trivia. Retrieved on 2007-07-27.
  2. ^ BIKEMAG.COM News no. 15: Interview with Cannondale Communications Director, Tom Armstrong. Retrieved on 2006-05-20.
  3. ^ CANNONDALE CORP.. Retrieved on 2006-11-27.
  4. ^ Cannondale Corp · 8-K · For 1/29/03. Retrieved on 2006-11-27.
  5. ^ Cannondale Sold Off. Retrieved on 2006-11-27.
  6. ^ Lebron James Buys A Stake In Cannondale. Retrieved on 2007-03-28.
  7. ^ Bikemag, July 2003 article on Six13 frame introduction. Retrieved on 2006-05-20.
  8. ^ SI Crankset. Cannondale System Integration. Retrieved on 2006-04-07.
  9. ^ Mountain Biking Non Stop! presents Cycling History. Retrieved on 2006-05-20.

[edit] External links