North Arc Capital announced it had acquired the Project 321 brand, known for its magnetic-pawl mountain bike hubs, and bike hub-related assets from JLSO, Inc.
Project 321, Inc. is a newly-formed, stand-alone company that was incorporated to complete this acquisition.
North Arc builds businesses based on engineered products with specific expertise in Wire EDM fabrication, CNC machining and complex assembly processes. The company will leverage its capabilities in these areas to give Project 321 a similar capacity on day one.
“This acquisition is fully aligned with our long-term strategic goals of diversification and an increased presence in the precision manufacturing of outdoor sporting goods components,” said Bryden Richardson, CEO, North Arc Capital. “The reputation of the Project 321 brand, combined with the recently announced Stan’s M-pulse hub supply deal, make Project 321 an ideal platform to enter the cycling industry. We are extremely fortunate to be able to learn from Project 321’s years of experience.
“Project 321 products initially utilized Industry Nine’s pawls and drive rings and evolved to its current magnetic pawl design, which has seen years of refinement and dependable use in the field. Our intent is to drive a step-change in the performance and durability of bicycle hubs. We have previously demonstrated the ability to patent and commercialize industry-leading sporting goods components with TriggerTech, and our ambition is to do something comparable in the bicycle hub space,” continued Richarson.
The purchase closed, and manufacturing has shifted to Mississauga, Canada. The G2 hub was discontinued, and a new G3 hub, which has similar components with Stan’s M-pulse hub, is in the final stages of testing. Its official release date will be announced this quarter.
Project 321 will continue to support G2 customers with warranty and service needs.
“The JLSO team is pleased to see our designs joining the North Arc family of companies. We will continue to collaborate on Project 321 to further grow and expand the business footprint,” said Jake Liles, President, JLSO, Inc. “Our companies are well aligned in that we both focus on customer service, innovative products, manufacturing excellence, and being good stewards of the environment.”