Thursday, January 26, 2017

Textron to buy Arctic Cat for nearly $250m

Big news for the snowmobile world came earlier this week.

Textron Inc. (TXT), an industrial, aircraft and automotive manufacturing company, has announced that it will be acquiring Arctic Cat Inc. (ACAT) as a new addition to its Specialized Vehicles business for approximately $247 million. Plans are that the Arctic Cat brand will be fully preserved when the acquisition occurs. According to the company's original announcement, the joining will position the brand to grow in its positioning within industry leadership and "allow more aggressive investment" in product development.

Based out of Minnesota, Arctic Cat reported an annual revenue of over $640 million in the 2016 Fiscal Year. ACAT President and CEO Christopher Metz noted the distinct value of the acquisition in an article published by Dealer News:

"This transaction presents increased opportunities for the business to leverage our combined scale, accelerate growth and enhance product innovation in ways that will benefit our customers, dealers and employees."

Based out of Minnesota, Arctic Cat reported an annual revenue of over $640 million in the 2016 Fiscal Year.

Source: Grand Forks Herald

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Up your Dealership's Digital Presence with a Website Upgrade to a .Motorcycles URL

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Site Migration Overview

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This is an important step. You want to make sure your prospects and customers can still find your website, and you don't want to lose any of your traffic or search rankings you've worked so hard to get. It will take a little time for Google Search to process, but when it’s complete your new .Motorcycles URL will work just like your old website address.

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Motorcycle Industry Council's 2017 Board of Directors Announced

Early this month, the Motorcycle Industry Council published a press release presenting the results of their BOD elections for 2017.

Newly elected Paul Puma will be joining Arnold W. Ackerman and Andy Leisner, both of whom were recently reelected. "Our 2017 Board of Directors is solid," said President and CEO of MIC, Tim Buche. "[It's] made up of individuals who aer fully committed to the success of our industry and ready to tackle the key opportunities facing all of us in the years to come."

A few things to note about these pretigious members include:

Arnold Ackerman 
Current Chair of the MIC Aftermarket/Allied Trades Committee
-Chariman Emeritus/Founder, Motorsport Aftermarket Group (MAG)
-Background of top positions in manufacturing, powersports, and even aerospace industries
-Described as an "experienced businessman, professional investor, and lifelong motorcyclist"

Andy Leisner
-VP/Group Publisher, Bonnier Motorcycle Group
-Previously managing partner of Hardcard Holdings LLC
-Garnered top positions with Cycle World, AMA Pro Racing, and Mazda Raceway Laguna Seca.
-Began riding at the age of 6
-Rode motocross even into the AMA 250 Grand Prix Nationals and 250 World Championship

Paul Puma
-Executive VP, Wells Fargo Commercial Distribution
-Worked for ITT Commercial Finance as Motorsport Unit manager
-Accumulated numerous acquisitions, including that of Wells Fargo in early 2016
-Motorcycle enthusiast for 50+ years, working in industry for over 3 decades

You can read the entirety of the press release here, on the Motorcycle Industry Council's blog.

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