BST Nano Carbon, a San Diego composites manufacturer, said it has acquired Ellsworth Handcrafted Bicycles, a Ramona bike manufacturer with a national reputation for top-quality mountain bikes.
Terms of the transaction weren’t disclosed, but the company’s operations have been moved to BST Nano’s offices in Rancho Bernardo. Founder Tony Ellsworth is staying on to oversee the brand’s product design and to work closely with BST Nano’s engineering and advanced materials team to create the next generation of Ellsworth bicycles, the company said.
Ellsworth started the business in 1991, making custom bike frames from his home. The company is a holder of several patents, including one for Instant Center Tracking suspension design. The company makes seven mountain bike models from either carbon or aerospace aluminum.
BST Nano Carbon, founded in 2011, is a maker of products from advanced composite materials. It was recently granted $1.4 million in tax credits from the state’s Office of Business and Economic Development, and agreed to invest $22.8 million into the business over five years as part of that grant award.