The investment company "Pegasus Partner" had shown the most activism from the outset and offered 60 million dollars for both divisions back in January. In addition, "Pegasus" employees have been running the day-to-day business together with the existing management since then. Pegasus Partner" has now been awarded the contract for the bicycle and motorcycle divisions. The latter is likely to be discontinued due to the high costs and lack of income. However, "Pegasus" managers have expressly committed themselves to the USA as a bicycle production location. The company's current management team, led by company founder Joe Montgomery and his son Scott, will also remain in office.

No details were given about the other bidders in the auction or the agreed purchase price. Within the next two weeks, the new owner will provide detailed information about the plans with Cannondale. However, one of the bidders at the auction, the Dutch Accell Group, has already made its views known in a press release.