Recently, Enve's parent company, Amer Sports, filed for an IPO in the United States. The move will allow Amer Sports to go public in the U.S. for the first time, which means people can buy shares in the company and become minority shareholders.
Through an initial public offering, a company can raise a significant amount of capital for the company by offering more investors on a public exchange. When Amer Sports went public, it was expected that the company could be valued at as much as $10 billion. However, details about the number available for purchase and its details have not yet been disclosed.
Amer Sports acquired Utah-based Enve Composites in 2016 for $50 million**. In addition to Enve, Amer Sports also owns well-known outdoor brands such as ARC'Teryx, Atomic, Wilson Sporting Goods, Armada, Louisville Slugger, Demarini, Sports Tracker and Lucilon. Amer also owns M**IC, Suunto, a fitness wearables, and Precor, a fitness brand. These products were launched in 2019**, around the same time, when ANTA Sports acquired AMER for US$5.2 billion, owning approximately 53% of its shares.
Enve has been on the move for the past two years, and just three years after launching the brand's first vehicle, Enve is sponsoring Dadal Energies for the World Tour this season.
Editor: Hamma.