Lehman Brothers invests in SRAM
Component giant SRAM has a new minority owner: Lehman Brothers Merchant Banking. The fund manager is making an undisclosed investment in SRAM, which will retain its senior management, the company announced Thursday. SRAM, which markets products under the SRAM, RockShox, Avid, Truvativ, and Zipp brand names, expects 2008 revenues to approach $500 million. “We have now achieved scale where we believe it is prudent to add an experienced institutional investor to our shareholder base," Stan Day, SRAM's chief executive.