Project 321 Gets Aquired by North Arc Capital



Project 321 is excited to announce they are under new ownership!

Here is what you need to know:

  • Project 321 Inc., a newly created stand-alone Canadian entity, has acquired the Project 321 brand and its hub related assets.
  • Project 321 Inc. has the capacity and ambition to scale into an industry leading cycling component manufacturer that will focus on OEM, aftermarket, and direct sales.
  • A Generation 3 (“G3”) Project 321 hub is currently being tested and its official release date will be announced later this quarter.
  • The Generation 2 (“G2”) hub has been discontinued and is no longer available for sale.
  • Existing warranties will be honored, and spare parts and service will continue to be available.

Project 321 Timeline

Early Days
Project 321 was founded 17 years ago by Jake Liles in Fresno California, and initially produced motorcycle gas caps. The foray into bicycle components began in 2005 with the development of Lefty fork adapters. Bicycle hub manufacturing started in 2011, initially utilizing drive rings and pawls sourced from Industry Nine.

Project 321 introduced its magnet-actuated pawl hubs in January of 2017 with the launch of the G2 Hub. The G2 was equipped with a class-leading 216 points of engagement and unique optionality for both quiet and loud driver configuration. Overall, the G2 offered a compelling combination of high-engagement and low-drag, quickly developing a reputation for outstanding performance and reliability. In late 2017, Jake moved shop from Fresno to Bend, Oregon. The move enabled him to increase quality and production capacity by bringing nearly all manufacturing in-house. In the years following, Jake and his partner Sam grew Project 321 into an internationally recognized brand with a dedicated following.

G3 Hub and Stan’s
With over five years of experience manufacturing and refining the G2 hub design, Jake was confident that any issue observed in the field with early versions had been addressed with running design changes; the G2 was now tested and proven. True to his nature, Jake got restless and started thinking of a new and improved G3. Around the same time, Stan’s No Tubes approached Project 321 for help developing a rear hub, and Jake went to work on a new design.

Project 321 Gets Aquired

Ownership Transition and Moving North
With the launch of the Stan’s MPluse hub (which includes several G3 components manufactured by Project 321), the global increase demand for cycling components, and the commitments of a growing family, Jake and Sam started to feel that it might be time to start to look to transition Project 321. Around this time, Jake was introduced to Bryden Richardson, the CEO of a precision manufacturing company that was exploring the idea of designing and manufacturing bicycle hubs.

It’s funny how the world can work, as they both had exactly what the other was looking for. Jake had a strong brand and a product known for quality and reliability. Bryden and his team had experience scaling businesses in precision manufacturing (North Arc Precision) and sporting goods components (TriggerTech). TriggerTech was founded in 2013 and has grown to become an industry leading supplier of trigger components to OEMs, aftermarket, and consumers in the firearms and crossbow space. To meet the growing needs of TriggerTech, North Arc Precision was created to act as a stand-alone precision manufacturing business with specific expertise in Wire EDM fabrication, CNC machining and complex assembly processes. North Arc Precision has the capacity and expertise to meet Project 321’s growing manufacturing needs on day one.

Research quickly turned to negotiations and after a few months Project 321 Inc. was formed as a stand-alone entity to acquire the brand and hub related assets from Jake and Sam’s holding company, JLSO Inc.

What’s Next?
Project 321 is moving all operations to a 42,000 square foot manufacturing facility in Mississauga Ontario. From Canada, Project 321 will have the capacity and ambition to scale into an industry leading cycling component manufacturer that will supply OEMs, wholesalers, wheel builders, retail shops, and consumers directly.

A brand-new G3 hub is currently in is in the final stages of testing and its official release date will be announced this quarter.

G2 hub production has been discontinued, but service and spare parts will continue to be available. All existing warranties will be honored from the new Canadian headquarters.

We are excited to bring hub manufacturing to Canada and invite you to sign up to follow our story. We look forward to working with you!

-The Project 321 Team

Project 321 Gets Aquired


“To Our Dear Customers, Friends and Family,

How do you begin to say goodbye to something that has been a part of your daily life for nearly seventeen years? For us it starts with THANK YOU.

Thank you to our customers. Who helped us to grow an unknown brand of quality American-made products from an idea in a garage to an international brand. Your trust and support means everything to us.

Thank you to our employees, past and present. We never could have made it this far without a team of people who believed in our vision.

Thank you to all of the friends we have made along the way. We could not have imagined some of the deep and lasting connections that have come from starting and running this company.

Thank you to our families, especially our parents. Without you we could not have survived our children’s early years!

And thank you to the new owners of PROJECT321. Who have given us the opportunity to transition into a new phase of our lives and to watch the brand we started so many years ago develop in big and exciting ways.

This has been an amazing and unique journey and we are beyond grateful to everyone who has been part of it.

With Much Love and Gratitude,
-Jake and Sam”

Project 321 Gets Aquired | A Note from Jake and Sam
Project 321 Gets Aquired

About North Arc Capital Partners
North Arc Capital is a Canadian partnership of capital providers and experienced business leaders that aim to build great businesses with a focus on advanced manufacturing of proprietary products. It has grown TriggerTech to become an industry leading component supplier and developed North Arc Precision as an advanced manufacturer of parts and assemblies. North Arc Capital Partners is actively pursuing new opportunities.

About Project 321 Inc.
The Project 321 Holdings Inc. is a newly formed, stand-alone entity that was incorporated to acquire the Project 321 assets. It will serve as a platform for growth in the cycling components market for North Arc Capital.

About North Arc Precision
North Arc Precision is a precision manufacturing business with specific expertise in Wire EDM fabrication, CNC machining and complex assembly processes. North Arc Precision operates out of a 42,000 sqft facility in Mississauga, Ontario and is capable of handling complex manufacturing and assembly projects at an automotive scale.

About TriggerTech
TriggerTech was founded in 2013 and has become an industry leader in rifle and crossbow triggers. The company pioneered and patented its zero-creep technology and has become a supplier to major OEMs, Custom Builders, Military & Law enforcement operators, and various aftermarket channels. TriggerTech also supplies triggers to support Ukraine’s war effort, something that is particularly meaningful given the high concentration of employees with Ukrainian heritage that the company proudly employs.

About JLSO, Inc.
JLSO has sold all bicycle hub assets, including the Project 321 brand, to Project 321 Inc. JLSO will continue to operate its machine shop in Bend, Oregon and will continue to make its automotive accessories. JSLO, Inc. will remain tooled up for hub production and will support Project 321 with new product development and as a U.S. based backup supplier.

Project 321 Gets Aquired


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