Currie Technologies has been acquired by Risk Equity Partners (a California-based investment group). The transaction was successfully consummated on Friday February 15th. 

Currie Technologies focuses on the design, marketing and distribution of light electric vehicles including bicycles, scooters and other transportation and recreational products. Industry veteran, Larry Pizzi, President of Currie Technologies will continue at the head of the new company which will operate from its existing location in Chatsworth, California.

Pizzi said that the acquisition begins the most exciting chapter in the company’s history. “This acquisition provides numerous opportunities to strengthen Currie Technologies’ position in this space with strategic financial and management resources that were not previously available. It also provides an unencumbered path to bring exciting new technologies to market that will completely revolutionize the category.”

“I am very proud of Currie Technologies and of all the people that have worked so hard to make Currie one of the leading electric bicycle companies in the world. We will continue to grow with the additional resources that this acquisition provides and we look forward to building a very bright future,” said Pizzi.

In late July of last year, Currie Technologies Inc. filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code after loosing a significant legal dispute with a large electric utility company, Central and Southwestern Corporation (“CSW”), that dated back to 2001 when CSW’s subsidiary, Total EV – a distributor of electric vehicles, rapidly wound down operations after it was acquired by American Electric Power (“AEP”), adversely effecting Currie’s business. Pizzi said today that “Although this was an unpleasant and difficult process, the company has never been in a better position to grow and prosper.”