Waterford Precision Cycles

Waterford Precision Cycles is an American bicycle brand associated with high-end, custom, hand-built steel bicycles and frames. The business was established in 1988 in Waterford, Wisconsin, by Richard Schwinn, a member of the Schwinn bicycle-manufacturing family, and became closely associated with the specialist craftsmanship traditionally represented by Schwinn’s Paramount racing-bicycle operation. Marc Muller, a former Schwinn designer who had worked on Paramount bicycles, was also an important early business partner. Waterford’s central proposition was made-to-order steel construction rather than mass-market production. The company built both TIG-welded and lugged frames, allowing customers and dealers to specify unusual geometries, dimensions, materials, and configurations. Its work covered road, criterium, stage-racing, track, cyclocross, touring, and other performance-oriented applications. Waterford also sold complete bicycles as well as frames, with reported prices for its high-end products ranging from approximately $2,500 to $8,500 depending on configuration. The brand’s appeal rested on individualized fit, traditional framebuilding knowledge, durable steel construction, and a close relationship between customer, designer, and builder. The company also produced the Gunnar Cycles line. Gunnar used TIG-welded steel-alloy frames and forks for off-road, touring, racing, and recreational riding. Gunnar products were positioned at a lower price than custom Waterford bicycles, in part because they generally used standardized sizing rather than Waterford’s full custom-sizing process. This created a two-tier structure: Waterford served riders seeking bespoke, premium construction, while Gunnar offered a more accessible steel-frame alternative. In addition to selling bicycles under its own brands, Waterford manufactured frames for a number of specialty bicycle companies, including Rivendell Bicycle Works, Salsa Cycles, Milwaukee Bicycle Co., and Shinola Detroit. This contract and private-label work connected the company to a wider segment of North American niche bicycle manufacturing and demonstrated its ability to build frames for different design briefs and brand identities. Waterford Precision Cycles and Gunnar Cycles ceased operations in June 2023. The shutdown was attributed to the planned retirement of Richard Schwinn and the retirement of several other employees, rather than to a reported bankruptcy or acquisition. The Waterford name was subsequently revived by John and David Siegrist in Durango, Colorado. John Siegrist brought substantial prior experience in the cycling industry, including the founding of DEAN Titanium Bikes in Boulder, Colorado, in 1989. The revival links the Waterford name to a new operating team while preserving its association with specialist American framebuilding. Because the available reference material does not establish the full scope, production volume, product catalogue, or distribution footprint of the revived operation, details about its current commercial activities remain limited.

Waterford Precision Cycles emerged from the specialist side of the Schwinn bicycle business. Richard Schwinn, a great-grandson of Schwinn founder Ignaz Schwinn, had served as Schwinn Bicycle Company’s vice president of production. The company’s early expertise was also connected to Marc Muller, who had worked as a designer on Schwinn’s hand-crafted Paramount racing bicycles. Against this background, Waterford was founded in 1988 in Waterford, Wisconsin, with a focus on premium steel framebuilding and individualized bicycle production. Rather than competing primarily through volume, Waterford concentrated on frames built to order. Its production included both TIG-welded and lugged steel construction, two techniques with different aesthetic and structural characteristics. The company served road and racing cyclists as well as riders seeking specialized frames for criterium racing, stage racing, track use, cyclocross, touring, and related applications. Custom sizing and unusual frame requirements were central to the Waterford proposition. The resulting bicycles occupied the high end of the market, with reported prices of approximately $2,500 to $8,500 for some products. Waterford’s manufacturing role extended beyond its own branded bicycles. It built frames for specialty companies including Rivendell Bicycle Works, Salsa Cycles, Milwaukee Bicycle Co., and Shinola Detroit, along with other smaller bicycle businesses. This work made Waterford an important behind-the-scenes supplier in the niche North American bicycle sector and required the company to adapt its framebuilding capabilities to multiple brand concepts and product specifications. The business also manufactured Gunnar Cycles. Gunnar frames and forks used TIG-welded steel alloy and covered off-road, touring, racing, and recreational categories. Gunnar was differentiated from Waterford through a more standardized approach: it generally did not provide the same custom sizing available for a Waterford frame. That limitation helped reduce cost and made the line accessible to a broader group of riders, while retaining a steel-focused manufacturing identity. After more than three decades of operation, Waterford Precision Cycles and Gunnar Cycles ceased operations in June 2023. The stated reason was the forthcoming retirement of Richard Schwinn and several other employees. The available reference material does not identify a bankruptcy, sale to a major bicycle conglomerate, or scandal as the cause of closure. The Waterford business was later resurrected in Durango, Colorado, by John and David Siegrist. John Siegrist had a long background in the cycling industry and had founded DEAN Titanium Bikes in Boulder, Colorado, in 1989. This revival gave the Waterford name a new operating chapter, although publicly available details about the revived company’s current products, manufacturing scale, and markets are limited.

• 2023

  Original Waterford and Gunnar operations close

  [1]Waterford Precision Cyclesen.wikipedia.org

  The businesses cease operations in June as Richard Schwinn and several other employees prepare for retirement.

• 2023

  Waterford is revived under new operators

  [1]Waterford Precision Cyclesen.wikipedia.org

  John and David Siegrist revive the Waterford bicycle business in Durango, Colorado.

• 1988

  Waterford Precision Cycles is founded

  [1]Waterford Precision Cyclesen.wikipedia.org

  Richard Schwinn establishes Waterford Precision Cycles in Waterford, Wisconsin, drawing on the Schwinn family’s bicycle-manufacturing heritage.

Premium American framebuilding centered on custom fit, hand-built steel construction, technical performance, and traditional craftsmanship.

• Custom bicycles · 1988

  Waterford custom steel bicycles

  Waterford’s core products were high-end bicycles built to order from steel. The company offered both TIG-welded and lugged construction and was known for accommodating custom sizing and unusual frame requirements. Its range covered road, criterium, stage-racing, track, and cyclocross applications, with complete bicycles available alongside individual frames.

• Steel bicycles and frames

  Gunnar Cycles

  Gunnar was Waterford’s more accessible steel-bicycle line. It produced TIG-welded steel-alloy frames and forks for off-road, touring, racing, and recreational riding. Gunnar products generally used standardized sizing rather than Waterford’s full custom-sizing service, helping lower the price of a frame-and-fork combination.

• Contract manufacturing

  Private-label bicycle frames

  Waterford manufactured frames for specialty bicycle brands including Rivendell Bicycle Works, Salsa Cycles, Milwaukee Bicycle Co., and Shinola Detroit. These projects extended the company’s role beyond its own brands and demonstrated its ability to produce frames for varied design requirements.

• 2023

  Cease original operations ahead of retirementsStrategy

  Background

  Richard Schwinn and several other employees were approaching retirement after the long-running Wisconsin operation.

  Action taken

  Waterford Precision Cycles and Gunnar Cycles ceased operations in June 2023.

  Aftermath

  The Waterford name was later revived in Durango, Colorado, by John and David Siegrist.

  Source

• 2023

  Revival under John and David SiegristM&A

  Background

  Following the closure of the original operation, the Waterford brand and business were brought back under new operators.

  Action taken

  John and David Siegrist resurrected the Waterford bicycle business in Durango, Colorado.

  Aftermath

  The brand continued under new ownership and a new operating base, but the available reference does not detail the revived company’s production or distribution plans.

  Source

• 2023

  Waterford Precision Cycles and Gunnar Cycles cease operations[1]Waterford Precision Cyclesen.wikipedia.org

  Other · Leadership change

  The Waterford and Gunnar bicycle businesses ceased operations in June 2023 as Richard Schwinn and several other employees approached retirement.

• 2023

  Waterford bicycle business revived in Colorado[1]Waterford Precision Cyclesen.wikipedia.org

  Other · Leadership change

  John and David Siegrist subsequently revived the Waterford bicycle business in Durango, Colorado, bringing new ownership and operating leadership to the brand.

1. 1Waterford Precision Cyclesen.wikipedia.org