UK’s Planet X Buys Titus Bikes
- By Singletrack.com
- Published Nov. 29, 2010
- Updated Dec. 2, 2011 at 9:17 AM UTC
On One, the mountain bike division of Planet X Ltd, has acquired the brand, trade marks and assets of Tempe, Arizona-based Titus Bikes.
Planet X, an Internet bicycle retailer based in the United Kingdom, purchased Titus last week at auction from the Arizona company’s largest lender. Planet X sells pavement bikes under its Planet X brand and mountain bikes under its On One brand, according to Bicycle Retailer and Industry News. Planet X does not sell mountain bikes on its U.S. Web site; only its pavement products are available.
Officials with the UK company said in a release that the Titus acquisition complements the On One range, with the addition of high-quality, full-suspension models.
“By leveraging our experience in carbon and titanium bike development we intend to build on the already strong Titus range,” the release said.
Titus’ largest lender, Factors Southwest, took control of the bike company on Nov. 9 and held two public auctions before Planet X won the bidding. In addition to complete bikes, Planet X sells parts and accessories, and has subsidiaries in 12 countries around the world, including Planet X USA in Gap, Pennsylvania, according to BR&IN.
Over nearly two decades, Titus had built a loyal rider base with bikes like the RacerX, but had seen major changes in recent years. In 2007, founder Chris Cocalis departed and founded Pivot Cycles.
At the 2009 Interbike, Titus showed several all-new carbon fiber mountain bikes including the FTM Carbon and a redesigned X Carbon. For 2010, Titus introduced the Rockstar 29er.
Titus didn’t do any actual frame building in Tempe. With the popularity of carbon fiber, the company depended on overseas suppliers for its carbon bikes. All the aluminum frames were welded in Portland, Oregon and shipped to Arizona for final assembly and quality control. Most titanium was similarly outsourced.