The Motorsport Aftermarket Group (MAG) is on the move, both literally and figuratively. The parent company to a host of aftermarket industry leading brands, including DragonFire, Küryakyn, Mustang Seats, Performance Machine, Progressive Suspension, Renthal, Roland Sands Design and Vance & Hines, recently relocated headquarters from Irvine, California, to Irving, Texas. Now MAG is staffing up, starting with the addition of a new CFO, Rick Walters.
“I’m pleased to announce that Rick Walters will be joining the MAG leadership team as Chief Financial Officer,” stated MAG President & CEO Andy Graves. “Rick is based at our new MAG headquarters in Irving, and is reporting to me.” Most recently the CFO of the $1 billion auto collision repair company Service King, Walters brings a wealth of financial experience to the MAG role. Prior to Service King, Rick served as a Group CFO at Sun Capital Partners in southern Florida, where he supported multiple portfolio companies, including work in auto supply and electronic components companies, as well as retail (furniture, restaurants, and department stores).
“His breadth of business experience across multiple industries, and businesses faced with diverse challenges, will serve him well at MAG,” noted Graves. “He brings a strong strategic perspective, extensive experience in process and profit improvement, and a passion to drive long-term value creation.”
Walters replaces Bill Himebrook, who has been MAG’s interim CFO since the merger of MAG/Tucker Rocky under the LDI umbrella in May, 2014. “We are grateful to Bill for stepping into this role at such a critical time for our new company,” added Graves. “And thankful for his insights, support and many contributions over the past 16 months. We look forward to continued support and dialog with Bill, as he transitions back into his full-time CFO role at LDI in Indianapolis.”
Originally from Wausau, Wisconsin, Walters has lived and worked across the U.S. He currently lives in McKinney, TX, a northern suburb of Dallas, with his wife and two daughters.