Custom Chrome names new president
Holger Mohr has accepted a new position as president of Custom Chrome while continuing to act as managing director of Custom Chrome Europe.
He will report to John Lott, CEO of Global Motorsport.
“Holger will be responsible for Custom Chrome globally,” Lott said, adding that Mohr will be responsible for ensuring overall brand cohesion and market representation, including directing improved external communications, dealer development, growth and general procedural improvement, including but not limited to fill rates, overall sales, enhancement to product portfolio, inventory management plus a more focused customer service approach.
Mohr says he has already drafted new business goals and strategies.
Featherlite merges with Universal Trailer Holdings
Featherlite, Inc., the Cresco, Iowa-based manufacturer and marketer of specialty aluminum trailers, transporters and luxury motorcoaches, has signed a definitive agreement to merge with a subsidiary of Universal Trailer Holdings Corp., Cincinnati, Ohio, a corporation with majority ownership by Dubin Clark & Co., a private equity investment firm. The transaction is valued at approximately $108.6 million.
Under the terms of the agreement, a subsidiary of Universal Trailer will merge with and into Featherlite. Featherlite will become a wholly owned subsidiary of Universal Trailer, and Featherlite shareholders will receive $6.50 in cash for each outstanding share of Featherlite common stock. This price represents a 52.9 percent premium over the closing price of Featherlite stock on July 26. The aggregate consideration to be paid to Featherlite shareholders and option and warrant holders is approximately $79.5 million, and Universal Trailer will assume approximately $29.1 million in debt obligations.
A special committee of Featherlite’s outside directors has approved the merger. The merger is expected to be completed by Oct. 31 and is subject to various conditions.
Camoplast acquires Tatou
Camoplast Inc. has purchased ATV undercarriage specialist Tatou, Inc.
Privately held Tatou, Grand-Mère, Québec, specializes in snow undercarriage systems for ATVs. The company’s products are sold throughout Canada, the United States and Europe.
Camoplast is a private corporation headquartered in Sherbrooke, Québec. A manufacturer of rubber tracks, undercarriage systems and composite and plastic components for the powersports, agricultural, transportation and industrial markets, Camoplast has 2,000 employees in 12 manufacturing sites in the United States, Canada and Europe.
“Camoplast is the leading manufacturer of rubber tracks and will provide tremendous new opportunities in the ATV undercarriage systems,” said François Thiffault, president of Tatou.
The transaction was finalized June 29.
Pro Moto Billet acquires Fastway Performance
Pro Moto Billet announced it has purchased Fastway Performance.
As part of the acquisition, all of Fastway Performance’s manufacturing, sales, racer support and marketing will be relocated to Pro Moto Billet’s corporate headquarters in Nampa, Idaho. Pro Moto Billet will continue production of all Fastway Performance products.
Pro Moto Billet, which currently has nine employees, will be adding roughly four new employees to accommodate the Fastway line. “It’s a perfect fit to our Pro Moto Billet product line,” said Lynn Hodges, president and owner of Pro Moto Billet. “The growth potential with Fastway Performance’s reputation of quality, performance and product line is tremendous.”
During the transition period, all Fastway dealer and consumer product questions should be directed to Pro Moto Billet at 208/466-4762.
Carlisle Power names new president
Carlisle Power Transmission, a division of Carlisle Companies, Inc., has named a new president, William Marcum.
Carlisle Power Transmission is a leading manufacturer of snowmobile and ATV drive belts.
Marcum has more than 26 years of experience managing domestic and international operations, strategic planning and organizational development activities in the industrial power transmission market. He most recently was vice president of international operations for the Fluid Power Division of Gates Corp.
Custom Chrome updates catalog
Custom Chrome Inc., Morgan Hill, Calif., showed updates to its parts catalog while displaying product in Sturgis. Under new management, the company is centering its growth plans on investing in research and development as well as distribution.
Included in the update are new products from Arlen Ness and Kuryakyn, as well as Adjure headlight buckets, PVC hose and wire coverings from Namz Custom Cycle Products, a starter housing combined with an integrated solenoid starter button from Spyke Stealth Starters, frames from Maximum Metalworks, carburetor jets from Motor Factory, an all-electronic distributor with a Hall Effect ignition from Mallory, and a battery charger in a chrome V-twin engine housing from Battery Tender.
Taiwan alliance develops LED headlamp
A Taiwan research alliance consisting of automobile and motorcycle producers, aftermarket suppliers, electronics companies and research institutes has developed a light-emitting diode (LED) headlamp.
The fourth-generation LED headlamp prototype features several advantages over conventional lamps, including a product life that is 10 times longer, energy savings of up to 50 percent and a response time that is 330 times quicker.
The alliance, which began its work in 2004, estimates LED headlamps will contribute an additional production value of $470.7 million to the Taiwanese parts industry during the next half-dozen years. psb
Copyright 2006 Powersports Business