According to a LinkedIn post, Christopher Bronstorp, formerly with BMW Motorrad USA, has been named director of Dealer Operations at Motos America.
You’ll find the LinkedIn post below.
Last month, Motos America closed its first round of financing, raising $5 million from private investors. This offering was placed by the executive team of the company, without commissions or other direct compensation. There were a total of 29 subscribers to this private placement of shares and other securities.
The company plans to use the proceeds of this offering for working capital to expand its base of luxury brand motorcycle dealerships across the U.S., including the acquisition of three dealerships in Florida: Motorcycles of Orlando, Motorcycles of Tampa and Motorcycles of Daytona, retailers of BMW, Triumph and Ducati motorcycles.
“We are well on our way to achieving our dealership acquisition target,” said Vance Harrison, CEO of Motos America. “The company sees a particular opportunity in BMW, Ducati and Triumph motorcycle dealerships. “These luxury brands, with their well-heeled customer base, are expected to continue to add to their aggregate market share in the coming years, and we expect to help that happen.”
BMW, Ducati and Triumph, each have a total of less than 160 dealers in the U.S. This is as opposed to the four Japanese motorcycle brands (Honda, Suzuki, Yamaha and Kawasaki) and Harley-Davidson each having between 700-1,500 domestic dealers, according to Motos America.
“The low number of BMW, Ducati and Triumph motorcycle dealers nationally dampens intra-brand competition and supports margins,” Odwarka said.
The company intends to parlay its increased financial strength as a result of this offering into a $12 Million “B-Round” in the near future.