Concept2 ownership 100% transferred to a Perpetual Purpose Trust

March 13, 2025

Karen Sweaney

The founders of Concept2 - pioneers of modern indoor rowing equipment - Peter Dreissigacker, Dick Dreissigacker, Bari Dreissigacker and Judy Geer announced the 100% transferral of Concept2’s ownership to the Concept2 Perpetual Purpose Trust as of 1st January 2025.

The Concept2 Perpetual Purpose Trust will direct the management and operations of Concept2 in a manner that maintains continuity.

The founders released a statement advising “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 neighbours.

“As we look toward stepping back from day-to-day operations, we have researched options to preserve the company’s long-held values and mission into the future, including Purpose Trust ownership. With a Purpose Trust as owner, profits are reinvested in the business and also used to fulfill 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 value we create through our business will be utilised 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 hope you share in our enthusiasm and will join us on this next phase of our journey as a company."

Concept2 products include:

StrengthErg
RowErg
SkiErg
BikeErg
Dynamic RowErg
Replacement Parts
Clothing & Gear
Accessories
Heart Rate Equipment

Concept2 Partnerships

World Rowing partnership
Concept2 announced in November 2024 a partnership with World Rowing - the international governing body for the Olympic sport of rowing - to elevate connected sport. This collaboration aims to promote the global growth of Indoor, 'Connected' Rowing.

Indoor rowing is experiencing rapid worldwide growth, transforming from a training tool for traditional rowing enthusiasts into a popular machine for a global movement focused on health, wellness, and sports gamification. The discipline is poised to play a significant role in the upcoming Olympic Esports Games, with the inaugural edition set for late 2025.

As part of the new agreement, Concept2 will become a Global Partner of World Rowing and will serve as the presenting sponsor of both the World Rowing and European Rowing Indoor Championships until 2028. The partnership also includes enhanced promotional visibility for Concept2 at various World Rowing events in traditional rowing disciplines.

Peter Dreissigacker, co-founder of Concept2 and a key figure in the development of Indoor Rowing enthused "we are delighted to strengthen our partnership with World Rowing in the coming years. Today, the new digital area with its connectivity, immersivity, and artificial intelligence makes us once more standing on the edge of a new frontier of unchartered areas of innovation and compelling opportunities. We can’t wait to explore the possibilities together!"

Battle Cancer partnership
Concept2 announced a global partnership with Battle Cancer as their exclusive event equipment sponsor. Concept2's RowErg, SkiErg, and BikeErg machines will support their mission to unite people through fitness and raise cancer research awareness.

Battle Cancer events take place worldwide, including locations in UAE, Ireland, the UK, Europe, and the US.

More information on Concept2

Image top. Concept2 rower; Image below: Battle Cancer Ireland. Credit: Concept2

About the author

Karen Sweaney

Co-founder and Editor, Australasian Leisure Management

Artist, geoscientist and specialist writer on the leisure industry, Karen Sweaney is Editor and co-founder of Australasian Leisure Management.

Based in Sydney, Australia, her specific areas of interest include the arts, entertainment, the environment, fitness, tourism and wellness.

She has degrees in Fine Arts from the University of Sydney and Geological Oceanography from UNSW.

search ausleisure

AusLeisure

Latest News