Kentucky Bicycle Rack Manufacturer Sold to Investment Group

Bicycle Rack maker, Stewart Iron Works, has been bought by a group of Northern Kentucky investors. The investment group formed a company named Covington Iron Works but will still operate as Stewart. Terms of the deal have not been disclosed.

Former owner, Mark Rottinghaus, is expected to continue to work for the company on a contractual basis. He owned the company since 2002, when he completed a buyout of brothers John and Tony Milburn. "I had an opportunity and I took advantage of it," said Rottinghaus, deciding to "pursue the sales and marketing end (of the business) which I really love."