Im sure you all remember a couple of months back, when Paragon Machine Works (PMW), a well-established manufacturer of bicycle frame-building components and tools, announced that after 43 years, it was closing its doors and shutting down for good. It was really sad news, as PMW was a very major player in the bicycle framebuilding community. The industry-wide response was the hope that Paragon would get picked up and purchased. You know, for someone to carry on the long-standing support they had supplied for so long.Paragon pulled back from the brink by Firsthand(Photos / Firsthand Framebuilding)Well, today we are announcing some great news! It was announced today that Firsthand Framebuilding, a Portland-based framebuilding supply and education company, has purchased Portland Machine Works. And they purchased PMWs complete intellectual property portfolio, too.The acquisition is said to include all of PMWs designs and copyrights. They acquired the brand name, trademark assets, and the manufacturing tooling necessary to produce their entire catalog of frame-building supplies.Whew. This is awesome news!But wait, whos Firsthand Framebuilding?Well, as mentioned, theyre based in Portland, Oregon, and are dedicated to supporting the custom bicycle community. They already do this by providing a large and comprehensive selection of high-quality materials, tools, and expertise. The timing of this acquisition couldnt be better. Firsthand says they will be opening a framebuilding school in the Fall of 2026. The new school will offer a range of bike-making classes both for established framebuilders and those who aspire to be framebuilders.Firsthand Framebuilding was already a longtime Paragon dealer. Theyre also the North American distributor for Reynolds steel and titanium frame tubing. Firsthand focuses on both framebuilding education, as well as supplying tools and equipment for the craft. This existing relationship and the mutual shared focus on the framebuilding community made the acquisition a natural fit between the two companies.With PMWs extensive catalog of components and tools now under Firsthands control, they will be able to offer students AND independent framebuilders access to educational resources and the necessary equipment, all in one place. The consolidation could streamline the supply chain for framebuilders who previously needed to source materials and tools from multiple vendors. This, in turn, potentially makes the craft more accessible to newcomers while serving the existing community of bicycle frame manufacturers.From the Horses Mouth:The Norstad family said of the sale, Were proud of the legacy weve created at Paragon Machine Works. Transitions are never easy, but working with Firsthand to secure Paragons future has been a dream come true. To see the product line not only carried on, but by a company that is truly investing in the future of framebuilding, is more than we could have hoped for. Were thankful for our customers support during the last 43 years, and were delighted that the Paragon product line will live on.Firsthands owner, Chris Blandford, added, Like so many, Ive long admired Paragon. The Norstads and their staff have supported the framebuilding community for decades. I am humbled that they have put their faith in me and Firsthand to uphold and carry forward their substantial legacy. In the coming weeks, we will be contacting Paragons customers regarding our plans, product ordering, and timelines.It Wont be EasyDuring the closure, Paragon cited several reasons for its sudden closure, including declining sales and rising costs. So, the purchase of PMW wont be without its challenges. Blandford is also not naive to those hurdles, saying, If the Norstads cant make this business work as-is, then I definitely cant. What weve bought here isnt an operating business we hope to fix or replicate; its a legacy of framebuilding knowledge and design that needed the right steward. That said, Im extremely optimistic that, with the right approach, manufacturing high-quality, affordable framebuilding bits domestically is still very doable and important in 2026. Paragons closure was a gut-check for all of us. With Paragons IP in hand, Im excited to see what the Firsthand team and I can do to bring a fresh perspective to framebuilding component supply in the future.Well, this is really great news. And Im going to be so bold and speak on the Industrys behalf, and I say, we are really glad Paragon Machine Works will live on! Best of luck to Firsthand Framebuilding on the long road ahead. Im confident you guys can make this work!Firsthand.BikeThe post Paragon Machine Works Legacy Lives On! The Bicycle Industry Celebrates a Win. appeared first on Bikerumor.