Innovations in Cycling, which does business as Genuine Innovations, has been acquired by Illinois Tool Works Inc. in a transaction that closed Oct. 31 and was led by Chris Auerbach of Accessories Marketing, Inc. (dba Slime).
“Genuine Innovations has been the leader in CO2 tire inflation and valve design for the last two decades,” said Joe McCarthy, president of Innovations in Cycling. “Being part of the ITW family will allow us to utilize their global presence and resources to expand our product offering and to grow into other key markets. This is a great opportunity for the Innovations family and we are excited to take this company to greater heights.”
Since our beginning in 1989, Genuine Innovations has been the world leader in CO2 tire repair and inflation products for both the bicycling and motor sports industry.
Based in Tucson, AZ, Genuine Innovations has prided itself over the years as maintaining its design, assembly, manufacturing and product testing in America. In addition to cycling and motor sports products, the company has designed & produced many types of gas valving products for numerous industries.
With $15.9 billion in 2010 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The company consists of approximately 840 business units in 57 countries, and employs approximately 59,000 people.
