Wayne Lupkin, founder of Avid (part of SRAM since 2004), has acquired a majority interest Spot Brand, builder of cyclocross, offroad and touring bikes. Every one of Spot's handmade frames are constructed of 100% True Temper steel and hand welded in Golden, Colorado.
Terms of the deal were not disclosed however owner Frank Scurlock will retain a minority ownership in the company. Wayne's son Andrew Lumpkin, formerly of Avid as well, will lead the management team at Spot. The Company was originally founded in 1997 by Michael Golinski, Jessica Stein and Lewis Stein, and operated in Vancouver, BC. Spot made its name with single speed bikes which peaked the interest of Mr. Scurlock, formerly of Maverick and RockShox, to take over and move headquarters to Colorado.
Wayne and Andrew Lumpkin have a great entrepreneurial history and hold numerous patents. While running Avid, the pair even developed something completely unrelated to the bike industry- the NuvoWino thermometer that can quickly and accurately measure the temperature of the wine itself. Wayne is a great example of how repeat entrepreneurs can be the foundation to help grow an industry.