Here are a couple of stories that came across my desk that I think are relevant and interesting to the powersports business community.
1 – Buell Current and Future Products Get Standing Ovation at Daytona – From Buell
The Buell is Back mantra was reaffirmed and reinforced after a strong showing and enthusiastic response from consumers at Daytona Bike Week 2022.
“Thank You, Thank You, Thank You and now it’s back to work,” said Bill Melvin, CEO of Buell Motorcycle Co. “We were humbled by the wildly enthusiastic response from both the media and consumers at Daytona on our current and future models. Their encouragement and insistence to keep expanding the Buell brand into new segments while pushing the power envelope was clearly heard…so as it pertains to new product development – you ain’t seen nothing yet!”
Buell showcased the Hammerhead and 1190 SX models currently in production while unveiling two new prototypes, the Baja DR and SuperTouring, announcing their entry into the off-road and touring segments while maintaining the brand’s coveted DNA customers expect.
The Baja DR will boast the world’s fastest production dirt bike with a 175hp liquid-cooled, 72-degree V-twin engine with 101 ft-lbs. of torque. Add to this the trellis frame, adjustable swing arm for a 66-72” wheelbase, industry-standard 37” seat height with 26.75-degree rake and you’ve got the makings for an unmatched top-of-the-market speed and performance dirt bike. Production is planned for early 2023.
The new SuperTouring model will possess the fastest touring bike in the marketplace producing an industry-leading 185hp. It retains Buell’s famous Fuel in Frame handling but will exhibit a more upright riding position, variable mounting points for hard or soft bags and room for rider customization with aftermarket touring accessories. Production is planned for winter 2022.
Opportunities to reserve a production slot for the Hammerhead, 1190 SX, Baja DR, and SuperTouring models are available now by placing a $25 reservation at http://www.BuellMotorcycle.com. You’ll receive a limited-edition Buell hat too!
“We were blown away by the reception of our future models and listened closely to our customers regarding their likes and dislikes,” said Dean Guard, Chief Product Engineer at Buell Motorcycle Co. “They took the time to evaluate our products and provide us with insights, and we can’t thank them enough for their passionate feedback and input. We will take this information back to our leadership team and make the necessary changes to continue to deliver products that exceed their expectations.”
Buell is headed back more energized than ever to deliver more Hammerhead and SX models, make improvements and prepare to launch their new Baja DR and SuperTouring models and explore opportunities to expand into new product segments as well.
Daytona Bike Week only reaffirmed that Buell is back and delivering excitement at every turn.
For future Buell updates, follow our news page on our website and our social media pages.
2 – HUSQVARNA MOTORCYCLES 2022 12EDRIVE AND 16EDRIVE BIKES BRINGING TWO-WHEEL THRILLS TO THE NEXT GENERATION – From Husqvarna
The Husqvarna 12eDrive and 16eDrive by STACYC™ are the fastest way for children to get up to speed with the basics of two-wheel balance and control. With the thrill and excitement of power delivery from a twist-action throttle, the 12eDrive and 16eDrive make learning so much fun. Skills grow in no time and tentative first steps quickly lead to confidence in control.
The 12eDrive is designed for kids aged 3 to 5 years old with an inside leg range of 35-51 cm. Tomorrow’s champions can start at their own pace, with a choice of three levels of power, starting at up to 8 km/h in training mode to a maximum of 14 km/h in advanced mode.
A true twistgrip throttle gives linear delivery, so children learn how to operate a proper throttle and manage power output. The 12eDrive’s ultra-low seat height of just 33 cm lets young riders keep their feet firmly on the ground at standstill, and also ‘dab’ easily with a foot to maintain balance on the move.
The 12eDrive has 12” composite wheels with pneumatic tyres, and a child-friendly, manageable light weight of 7.7 kg (including battery).
The Husqvarna 16eDrive extends the concept to kids aged 4 to 8 years old up to 34 kg, and with an inside leg range of 45-61 cm. The 16eDrive has 16” composite wheels with pneumatic tyres. Three power modes allow speeds up to 21 km/h, so when children feel confident, they can go quicker with an easy turn of the twist-action throttle.
Riding skills increase quickly with confidence, and the 16eDrive is designed to build the trust of young riders. Seat height is a manageable 43 cm, and at just 9 kg including the battery the 16eDrive is easy to push around and pick up, so kids will soon be back in action after a tumble.
Both the 12eDrive and 16eDrive offer battery runtime of up to 60 minutes. The 12eDrive’s 2 Ah battery takes 30-60 minutes to recharge and the 16eDrive has a 4 Ah unit with a charge time of 45-60 minutes. Rapid charging means the action doesn’t stop for long and can keep on going with an optional second battery. With their low weight, both balance bikes are easily lifted into a car boot to take on family days out.
The Husqvarna 12eDrive and 16eDrive are available now at authorised Husqvarna Motorcycles dealers. Availability may differ from country to country. For all details on pricing and availability, please refer to your national Husqvarna Motorcycles subsidiary or importer.
3 – LDR Growth Partners acquires Mustang Motorcycle Products LLC – From Powersports Business
A veteran-founded and growth-oriented investment firm, LDR Growth Partners, has added to its portfolio by acquiring one of the most popular brands in aftermarket seats.
LDR Growth Partners has acquired Mustang Motorcycle Products LLC, maker of Mustang Seats and related motorcycle accessories, in a private transaction that closed last Friday. Mustang, known for high-quality, handmade motorcycle seats, was founded in 1980 near Three Rivers, Massachusetts, where the company maintains factory operations. Mustang was purchased out of Motorsport Aftermarket Group, owned by a group of investors, led by Monomoy Capital Partners.
“Mustang Seats presents a tremendous opportunity for us at LDR,” said William Brame, partner at LDR and co-head of its acquisition business. “Our unique approach is in providing growing companies the resources they need to continue to expand while identifying areas for new value creation. We’ll invest in people, technology, and the machinery the company needs to help deliver the iconic Mustang Seats to motorcycle riders looking for our products domestically and internationally.”
Mustang employs 85 people in a historic facility in Three Rivers. The company was founded by Al Simmons and named after the legendary P51 military aircraft from World War II. Mustang designs and manufactures a variety of styles of seats, with fitments for all major brands of motorcycles. The company also offers rider and passenger backrests and seating-related products.
LDR Growth Partners is a private investment firm focused on acquiring and growing unique, cash flow generating businesses in the manufacturing, industrial products, and transportation sectors. The company currently owns and operates Whitman Controls, a 50-year manufacturer of process automation controls with large, multinational customers across a range of industries. LDR, founded in 2011 by three U.S. Army officers, is also the owner of LDR Advisory Partners and LDR Leadership, firms which focus on improving company, employee and leadership performance.
LDR intends to keep Mustang’s operations in its current primary location as it adds manufacturing technology, production capacity and marketing capabilities to the organization. The company has added nearly 20 additional employees since September of 2021 and the new owners anticipate hiring additional resources in the coming months to accomplish their goals.
“We believe in Mustang’s product, in its people and in the strength of the motorcycle accessory market,” continued Brame. “Our leadership is excited about entrenching ourselves in this company and in the riding community. We look forward to meeting our loyal customers and partners at rallies and events this year.”
“The leadership and employees here at Mustang couldn’t be happier about the news,” said Mustang GM Mike Cornelius. “The additional investment from LDR will help us take the next step forward. Our orders show that riders want Mustang Seats and our team is excited to continue to deliver them to our loyal dealers and customers.”
4 – Dealership snags three District Dealer of the Year awards – From Powersports Business
Make some space in the trophy case. That’s the goal for a highly successful dealership team that recently received three District Dealer of the Year awards from BRP.
Mosites Motorsports in North Versailles, Pennsylvania, was named 2021 Can-Am Off-Road, Can-Am On-Road and Sea-Doo District Dealer of the Year.
Mosites reports on its Instagram that “total sales volume is a criteria, but also includes brand support from our parts and service departments. We’re proud to be able to support the local riding community, but more importantly humbled and appreciative that you entrusted us with your continued patronage of this goofy place we call a home away from home. Thank you all so much for not only the opportunity to pursue this title, but for allowing us to be your local, hometown, family owned dealership.”
5 – Dealership owners sell two locations after 30 years due to retirement – From Powersports Business
A longtime Harley-Davidson husband-and-wife owner couple has sold its two locations that had been heavily involved in the community thanks to their love of the Harley-Davidson brand. The new owner, meanwhile, was a member of the inaugural Powersports Business 40 Under 40 Dealers in 2021.
6 – Big Island Harley-Davidson in Kailua, HawaiI Closes Doors at the End of the Month – From Powersports Business
7 – The STKR® TRi-Mobile Rechargeable Work Light
STKR Concepts is no slouch when it comes to innovative lighting, and they continue to impress with their new TRi-Mobile Area Work Light. This new mobile light has a structural design unlike any other, and it is that exact unique structure that gives the TRi-Mobile the ability to change shape and provide endless lighting solutions.
The TRi-Mobiles’ key design feature is its 3 individual LED panels. Each of these panels nestles into the body, nicely protected when in storage, but put this light to work and watch the LED panels convert into lighting workhorses. The three panels are fitted with dual pivoting mounts which allow them to rotate and pivot in all directions, completely independent of one another. They can be rotated to create a 360° lantern or positioned to project light in nearly any array. Face the three LED panels straight down and the Tri-Mobile quickly fills a room, workshop, campsite, or tent. Face all three panels in one direction to light a scene or fold the panels down to fill an entire area when in lantern position.
Set up and positioning of the TRi-Mobile is easy in any space. This light is equipped with many hands-free options including magnets, a hang hook, and a tripod mount. The three magnets embedded in the base allow the user to mount the light to any steel surface and then easily position each LED panel. Great for mechanics, HVAC, and industrial environments. The hang hook nested in the base is fitted with a ball joint, perfect for hanging and rotating the light into the exact position necessary. Screw the Tri-Mobile onto the available STKR tripod and you can elevate the light in any room or outdoor space. The available STKR tripod is sturdy and durable. It lifts the Tri-Mobile over 4 feet in the air and collapses in seconds.
In addition to its directional versatility, the TRi-Mobile also boasts an impressive amount of light. An astounding 2000 True Lumens to be exact. These lumen levels are not typical for battery powered lights, but the Tri-Mobile is able to pull off this feat via 4000 mAh dual lithium-ion batteries combined with the highest quality SMD LEDs. If less light is needed, the user can select between 3 power modes to lower the brightness and preserve battery power. Users can even select between the color of the LED light. There are 2 color modes, 5400K mode and 4000k mode. 5400K is a nice bright white color that is perfect for clarity when working on projects. The 4000k mode is a softer & warmer light that is easier on the eyes. This mode can often be better in less technical situations, such as in a living space or enjoying a relaxing outdoor environment.
Use the Tri-Mobile when working around the house, shop, or garage. Pack it for an upcoming camping or RV trip and let it light up large outdoor spaces. A good light is always necessary, and the TRi-Mobile is exactly what everyone needs. Powerful and durable enough to handle rugged environments, and versatile enough to fulfill all potential area lighting needs.
The TRi-Mobile Area Work Light is available now. For more information, please visit www.riskracing.com
8 – Dealership celebrating 40 years with expansion – From Powersports Business
A dealership shares on an Instagram post that “because our customers continue to remain our highest priority, we are heading into our 40th year with some big changes! Last week we were able to break ground on our newest construction project – an updated service facility! We hope this addition will help us to better accommodate our customers and make our service experience top notch.”
READ THE ENTIRE ARTICLE HERE – https://powersportsbusiness.com/top-stories/2022/04/06/dealership-celebrating-40-years-with-expansion/
9 – Progressive IMS Outdoors Reveals Dennis Kirk as New “Ultimate Builder Custom Bike Show” Title Sponsor, Plus Signs an All-new Program Manager
SANTA MONICA, CA – April 6, 2022 – Progressive IMS Outdoors, the Powersports industry’s leading consumer motorcycle tour that connects enthusiasts with top brands, today announced two strategic partnerships for Ultimate Builder Custom Bike Show (UBCBS).
- Dennis Kirk, the world’s largest retailer of aftermarket parts, apparel and accessories for every powersport, is the new title sponsor of UBCBS.
- Jordan Mastagni, president of Hot Bike Magazine, will take over management of UBCBS.
Builder registration for the 2022 competition is now open – new and returning builders alike are encouraged to sign up for this year’s edition at www.motorcycleshows.com/UBCBS.
Jordan is gearing up to bring his 20+ years in the motorcycle industry as a moto-journalist and builder enthusiast to the Progressive IMS Outdoors staple attraction, which has evolved into the industry’s most prominent competition throughout its 11-year tenure. Year after year, hundreds of builders use the competition as a springboard to showcase their rolling works of art and compete for cash, prizes, and the “King of Builders” title, crowned in the championship round held in Southern California at the last event of the tour.
“It’s an honor to work alongside the Progressive IMS Outdoors team this year,” Jordan says. “I’ve worked closely with the custom motorcycle community throughout my career and have so much respect for the time and creativity it takes to produce a custom build and I look forward to seeing what this year’s group brings to the competition.”
Dennis Kirk, Powersports aftermarket parts and gear leader, signs on as the UBCBS title sponsor.
“UBCBS is one of the most well-known and widely respected competitions in the builder community and we are excited to be on board as the title sponsor for the 2022 edition,” said Tammy Becklin, Chief Marketing Officer of Dennis Kirk. “The opportunity to further align our brand with the custom builder community, while celebrating the grit and talent that goes into motorcycle building, is a remarkable milestone for Dennis Kirk. We look forward to this year’s competition and are eager to introduce Dennis Kirk to the builders and thousands of riders and enthusiasts that attend Progressive IMS Outdoors.
Classes for the 2022 competition include Custom Street, Custom Classic and Freestyle, plus the People’s Choice Award. Winners of the Custom Street, Custom Classic, and Freestyle classes will take home $500 – $1,000 in cash from Progressive IMS Outdoors, plus prizes from sponsors. Winners of each round are invited to compete in the Championship Round at the end of the tour for the title “King of Builders”, $10,000 in cash and prizes.
Custom Street Class
Must start with 2000 and later major OEM engine and frame as a base. Must maintain original engine cradle configuration. The neck may be cut to rake or stretch frame. Hardtail sections and wide tire alterations are acceptable. Must be a two or three-wheel motorcycle configuration as defined by DMV. The vehicle must run and be operable.
Custom Classic Class
Must have a 1999 or earlier OEM engine; replica engines are not allowed. Custom or stock modified frames are acceptable. Must be a two or three-wheel motorcycle configuration as defined by DMV. The vehicle must run and be operable.
Anything goes, two or three-wheel drivetrain/chassis motorcycle configuration defined by the DMV. The only limitation is the builder’s imagination and resources. The vehicle must run and be operable.
“UBCBS is a staple program that people return to year-after-year, as competitors and attendees to see all-new unique builds,” said Tracy Harris, SVP of Progressive IMS Outdoors. “The program is a highlight of each event, as builders travel from all over the nation and compete alongside their peers to showcase the bikes they have been working on for months and, in many cases, years. We’re excited to see new and returning faces on this year’s IMS tour under Jordan’s new management.”
Jordan Mastagni is a seasoned 20-year veteran in the motorcycle industry as a moto-journalist and most recently the head of sales and marketing at ARCH Motorcycle Company, co-founded by Gard Hollinger and Keanu Reeves. Recently, Jordan purchased the intellectual property of Hot Bike, the world’s largest custom V-twin media company, and is working hard to keep this iconic, 50-year-old brand shredding tires for many years to come. Being a fan of all motorcycle makes, Jordan brings a keen eye for attention to detail, making him a great fit to be the ambassador for UBCBS.
Please visit here for more information on judging criteria, awards categories, and prizes. Interested in registering for the 2022 UBCBS competition? Builder registration is now live. Please visit https://motorcycleshows.com/UBCBSto enter.
The 2022 tour is sponsored by Progressive Insurance, with this year’s edition marking Progressive’s role as title sponsor for the 13th consecutive year.
10 – Pocono Mountain Harley-Davidson owners sell dealership – From Powersports Business
Performance Brokerage Services, North America’s highest volume dealership brokerage firm, has announced the sale of Pocono Mountain Harley-Davidson of Tannersville, Pennsylvania from Jim and Linda Schlier to Steve and Anne Deli of American Road Group.
READ THE ENTIRE STORY HERE – https://powersportsbusiness.com/top-stories/2022/04/07/pocono-mountain-harley-davidson-owners-sell-dealership/
11 – Kawasaki reveals Ichiban dealers for 2021 READ THE POST AT https://powersportsbusiness.com/top-stories/2022/04/07/kawasaki-reveals/
12 – J&P Cycles Celebrates the Grand Opening of New Scottsdale Store – From Motorcycle and Powersports News
J&P Cycles has announced the opening of its brand-new store in Scottsdale, Arizona.
To celebrate the new location, J&P Cycles is hosting its Grand Opening Motobash from April 6-10, 2022, on-site at the store. The retail store features a vast selection of parts and accessories along with a full line-up of motorcycle gear, including helmets, apparel for men and women, parts and more. Motorcycle, powersport and adventure enthusiasts along with community members and residents are welcome to this free event.
In addition to the opening of the new store, J&P Cycles will be a destination store and one of the sponsors for Arizona Bike Week (April 6-10, 2022).
READ THE ENTIRE ARTICLE HERE – https://www.motorcyclepowersportsnews.com/jp-cycles-celebrates-grand-opening-scottsdale-store/
13 – CDK Global To Be Acquired By Brookfield For $54.87 Per Share In Cash
HOFFMAN ESTATES, Ill. – April 7, 2022 – CDK Global, Inc. (Nasdaq: CDK), a leading automotive retail technology company, has entered into a definitive agreement to be acquired by Brookfield Business Partners, together with institutional partners (collectively “Brookfield”), for a total enterprise value of $8.3 billion.
Under the terms of the merger agreement, Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK. CDK shareholders will receive $54.87 per share in cash upon completion of the transaction, which represents a 30% premium to the unaffected closing price of CDK stock on Feb. 18, 2022, the last full trading day prior to market speculation regarding a potential sale of the company. The agreement was unanimously approved by CDK’s Board of Directors, which recommends that CDK stockholders tender their shares in the offer.
“This transaction is an exciting next step for CDK that provides our shareholders with both certainty of value and a meaningful premium. It also allows CDK to continue executing our long-term strategy to connect our industry at every level and create an open and collaborative future,” said Brian Krzanich, president and chief executive officer, CDK Global. “In consultation with our outside advisors, CDK’s Board of Directors carefully evaluated a range of strategic and financial alternatives over several months and determined that this transaction is superior to all other available alternatives.
“Brookfield recognizes the unique value our products bring to more than 15,000 retail locations in North America and shares our vision of transforming the future of automotive retail. We are excited about the opportunity to further sharpen our focus on elevating the dealer and consumer experience when selling, buying or owning a vehicle. I am grateful for our team’s incredible work in providing an integrated experience —from sourcing to retail sale, and beyond.”
As the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group, Brookfield Business Partners is focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Brookfield Asset Management is a leading global alternative asset manager with approximately $690 billion of assets under management.
The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of CDK’s outstanding shares, the expiration or termination of the antitrust waiting period, and other customary conditions, after which CDK’s common stock will no longer be listed on the Nasdaq Global Select Market. Following the successful completion of the tender offer, Brookfield will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. This transaction is expected to close in the third quarter of 2022.
Morgan Stanley & Co. LLC is serving as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to CDK. Davis Polk & Wardwell LLP is acting as legal advisor to Brookfield.
About CDK Global, Inc.
With approximately $2 billion in revenues, CDK Global (NASDAQ: CDK) is a leading provider of retail technology and software as a service (SaaS) solutions that help dealers and auto manufacturers run their businesses more efficiently, drive improved profitability and create frictionless purchasing and ownership experiences for consumers. Today, CDK serves over 15,000 retail locations in North America.
The tender offer for the outstanding common stock of CDK Global, Inc. (the “Company”) has not yet commenced. This communication does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell the Company’s securities. An offer to purchase shares of the Company’s common stock will only be made pursuant to an Offer to Purchase and related tender offer materials. At the time the tender offer is commenced, Central Merger Sub Inc., a subsidiary of Brookfield Business Partners, will file a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. The tender offer materials (including the Offer to Purchase, a related Letter of Transmittal and other tender offer documents) and the Solicitation/Recommendation Statement on Schedule 14D-9 will contain important information. The Company’s stockholders are urged to read these documents (including the Offer to Purchase and related Letter of Transmittal and certain other documents), and the Solicitation/Recommendation Statement, as may be amended from time to time, carefully when they become available because they will contain important information that they should consider before making any decision regarding tendering their Shares. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov. Additional copies of the documents may be obtained for free on the Company’s website at www.cdkglobal.com.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. By their nature, forward-looking statements involve risks and uncertainty because they relate to events and depend on circumstances that will occur in the future, and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Forward-looking statements include, among other things, statements about the ability of the parties to complete the proposed transaction and the expected timing of completion of the proposed transaction; as well as any assumptions underlying any of the foregoing.
The following are some of the factors that could cause actual future results to differ materially from those expressed in any forward-looking statements: (i) uncertainties as to the timing of the tender offer and the merger; (ii) the risk that the proposed transaction may not be completed in a timely manner or at all; (iii) uncertainties as to the percentage of the Company’s stockholders tendering their shares of common stock in the tender offer; (iv) the possibility that competing offers or acquisition proposals for the Company will be made; (v) the possibility that any or all of the various conditions to the consummation of the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances that would require the Company to pay a termination fee or other expenses; (vii) the effect of this announcement or pendency of the proposed transaction on the Company’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, its business generally or its stock price; (viii) risks related to diverting management’s attention from the Company’s ongoing business operations; (ix) the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; and (x) other factors as set forth from time to time in the Company’s filings with the SEC, including its annual report on Form 10-K for the fiscal year ended June 30, 2021 and any subsequent quarterly reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are based on information currently available to the Company, and the Company expressly disclaims any intent or obligation to update, supplement or revise publicly these forward-looking statements except as required by law.