 Waterford builds both TIG welded and lugged steel frames to order, and specializes in custom and unique bicycle frames.The company is operated by Richard Schwinn, formerly of Schwinn Bicycle Company, and business partner Marc Muller.Schwinn (great-grandson of Ignaz Schwinn, who founded Schwinn Co. in 1896) was vice president of production for Schwinn Co., and Muller worked for Schwinn as a designer of the company's hand-crafted Paramount racing bikes.