"We're going to give it our all," Robert told the Free Press of her bid. "We are really hopeful we can keep the company in Vermont." If she wins the bidding process, Robert said Ibex will be a "very good fit" for Terry Bicycles. "There are a lot of synergies in terms of customer base," she said. Bob Zulkoski, chairman and managing partner of Vermont Works, is another fan, and customer, of Ibex. He credits the company with being a "thought leader" that reintroduced merino wool to the marketplace as performance attire. "Over the years they built up a really nice brand with customers around the country, based on quality design and quality of manufacturing," Zulkoski said. "It was just good stuff." From left, Chief Executive Officer Frank Koster and Chairman and Managing Partner Robert Zulkoski of Vermont Works. The Burlington investment firm is bidding for Ibex together with Liz Robert of Terry Precision Bicycles, also a Burlington company. Zulkoski said the company hit a sales plateau in recent years. Information provided by Hilco Streambank, the firm overseeing the auction of Ibex, shows that annual revenue for the past three years has hovered around $20 million. "Personally I don't believe the plateau they reached in terms of sales was anywhere near the size of the potential market," Zulkoski said.
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