HB Performance Systems Inc., which was Hayes Brake until a management buyout less than a month ago, acquired Sun Metal Products Inc. of Warsaw.

Financial details of the sale were not disclosed.

Rhonda Kirkwood, vice president and general manager at HB Performance Systems, will manage the new acquisition, now named Sun Components, under the company's Hayes Bicycle Group division. Bob Piecuch, former owner of Sun Metal Products, will continue to operate the business and report to Kirkwood.

"We are proud to make Sun Metal Products the first acquisition of HB Performance Systems," Rand McNally, president and CEO of HB Performance Systems Inc. said in a press release. "It is a good example of how we plan to grow in the future."

According to Piecuch, Kirkwood and McNally met with local Sun employees in July. Piecuch said, "Employees were advised that business will continue as usual, however, studies will be conducted to determine long-range plans."

Sun Metal Products was founded in 1946 when Ken-Jen Metal Products started production of tricycle seats. In 1948, Ken-Jen became Sun Metal Products and started a wire-spoke wheel line. In 1954, it developed wheels for lawn mowers, garden utility vehicles and stationary bicycles. In 1974, Sun Products began production of alloy rims for high performance, off-road motorcycle racing. By the early 1980s, half of the world's professional racers were using Sun's aluminum rims.

In the 1980s, Sun also began developing high-end alloy bicycle rims. In the 1990s, Sun expanded production facilities in Indiana for high-end alloy rims and built manufacturing plants in China to provide products for the growing Asian bicycle manufacturing industry.

In 1997, Sun Products purchased Ringle Racing Components and increased product development for the Ringle brand. Sun Ringle is a BMX and MTB wheel-set and hub brand.

HB Performance Systems' net revenue was nearly $100 million in 2004. Since 2000, the company has doubled in size. [[In-content Ad]]