Active Ride Shop, based in Temecula, CA, announced that The Phoenix Project, Inc, a group led by former Active President, Esmail Mawjee, had purchased the company.
Under Mawjee’s leadership, Active went from bankruptcy in 2009 to profitability before being sold to private equity firm Tengram Equity Partners in 2014.
Mawjee is now CEO of Active Ride Shop with former Active alumni Ryan Ciucki as CFO, Philip Myers as president, and Keith Beckley, who continues as VP, retail.
The company will continue operating Active’s three Inland Empire retail stores located in Rancho Cucamonga, Redlands and Temecula. It also plans to relaunch its e-commerce business, currently under construction.
Thursday’s sale resulted from an auction of the company’s assets by its lender GemCap Solutions, LLC, from previous owner Bedford Ventures, Inc. GemCap, which served as the financial lender to Bedford and sold the assets to the highest bidder, The Phoenix Project, Inc.