About Us

FleetVelo Corporation was formed to continue supporting the thousands of Waterford, Gunnar and Schwinn Paramount riders, who treasure their bicycles.   Waterfords, Gunnars and many Schwinn Parmaounts were built at a factory in Waterford, Wisconsin.   The factory began building Schwinn Paramounts in 1981.

Waterford Precision Cycles was founded in 1993 by Richard Schwinn and Marc Muller, taking over Schwinn Bicycle Company’s Paramount Design Group research and production facility.

Early on, Waterford established its reputation for innovative design.  It helped popularize cyclocross designs that started a generation of designs suited for a wide range of uses from cyclocross competition to training and even road racing.  With the Adventure Cycle in 1994, Waterford redefined the touring bike to include comfort, tire clearance and creature features.  In 1996, it added road fixed gear for riders with the benefits of fixed gear as a valuable training component.

The factory built bikes for other companies.  Its biggest customer was Standard Byke Company, which built the leading BMX and freestyle bikes of the 1990’s.   It also built quality lug bikes for Rivendell Bicycle Co.  Later, starting in 2012 it built luxury bikes for Shinola.

In 1998, Waterford established a new brand, Gunnar Cycles, to take advantage of its mastery of TIG-welding and the introduction of the new generation of TIG friendly air-hardening steels. 

During this time, Waterford and then Gunnar added a growing range of models, starting with cyclocross, touring bikes of all kinds and a broadening range of mountain bikes, including 29 and 27.5 inch wheel sizes, single speed designs hybrids, that could to both single speed or fully geared.

In 2003, Waterford transformed into a full custom design brand, where essentially every bike was made to order, and at the same time incorporating TIG-welded construction for certain models.

The revolutionary S3 road racing tubeset became the highest pinnacle of road racing construction, while the 14-series designs offered broad flexibility of design with their own OS-2 tube standard.

One thing that continued throughout its history was its commitment for craftmanship matches that for design and innovation.  Waterfords pioneered and continue to expand the use of stainless steel for fittings and even complete frames.

After the covid pandemic and with the retirement of a number of key employees, the factory closed in 2023.  In 2025, Dave and John Siegrist acquired the brands and are bringing forward the designs and craftsmanship for which Waterford and Gunnar are known.

Fleetvelo continues to support Waterford, Gunnar and Schwinn Paramount’s many rider  

It is all in the service of our riders, to whom our business is dedicated.