Titec was formerly associated with Keith Bontrager. Keith had a partner in his business named Hans Heim. Hans left Bontrager Cycles and founded his own business, Santa Cruz Cycles. Hans wanted to sell his 40% interest in Bontrager. In trying to finding the value of the Heim interest, an offer from Trek was made for the whole of Bontrager. The sale of Bontrager is widely said by people who claim to know to have been effected for about $1,000,000
It is also believed that Mr. Bontager got a 5 year service contract working for Trek as a designer. In an evening of casual conversation with people close to the transaction, we seemed to find agreement around the the figure of a $125,000 yearly salary for Mr. Bontrager. That number was just speculation among people very familiar with the industry. Mr. Heim's minor interest is not believed to have been bought for cash but will come in the form of payments over time. Most believe that it was a take it or leave it proposition for Mr. Heim, as a minor partner. Titec will now be employing Joe Murray as designer.
