February 4, 2025

An announcement from Concept2’s founders:

We started Concept2 in 1976 in a Vermont barn with the vision of creating innovative, quality rowing products for training and racing. Over the years, we have outgrown the barn, and our product portfolio has expanded. But our mission has remained the same. We strive to design, manufacture, sell, and support unique products of the highest quality and value for the benefit of the Concept2 community: our customers, users, employees, suppliers, and neighbors. 

When we envisioned the company’s future, we wanted to make sure that we preserved the long-held values and mission. It was important to us that Concept2 was never sold off to new owners and always remained true to itself. 

After much consideration, on January 1, 2025, we transferred 100% of Concept2’s ownership to the Concept2 Perpetual Purpose Trust. This model ensures the company will carry on in the hands of its employees. With a Purpose Trust as owner, profits are reinvested into the business, as well as being used to fulfil the designated purpose of the Trust. Company profits do not flow to individual shareholders or beneficiaries. And a Purpose Trust can endure in perpetuity. 

The Concept2 Perpetual Purpose Trust Stewardship Committee, which includes us as well as a number of employees, directs Concept2’s management and operations in a manner that maintains continuity and ensures our commitment to those early values.  

The value we create through our business will be utilized for a greater purpose in serving the Concept2 community. Our vision and mission will carry on in the hands of our talented employee base, and Concept2 will remain the gold standard for providing best-in-class products and unmatched customer service. 

We are excited to see what the future brings.