American Motorcycle Dealer AMD 229 August 2018 | Page 18

MAG signs Buettner and
BRIEFS Peiser to Board of Directors
BIZ
Polaris Industries Inc.
announced the declaration of a
regular quarterly $0.60 per
share cash dividend payable on
September 17, 2018 to
shareholders of record at the
close of business on August 31,
2018.
Scotts Valley, California based Fox
Factory Holding Corp. has reported
sales up by +29.8% for 2018 Q2.
Net income was $18.4 million, or
11.7% of sales and $0.47 of
earnings per diluted share. Adjusted
EBITDA was $32.4 million, or 20.7%
of sales.
BRP has announced it is to
acquire Lansing, Michigan
based Triton Industries,
manufacturer of the Manitou
pontoon range as a next step,
the second Marine Division
company purchase in what it
describes as its “global marine
strategy.” The news comes a
few weeks after Polaris
announced a definitive
agreement to buy $560m in
sales Boat Holdings, LLC, which
it describes as “the leading
manufacturer of pontoon boats
in the U.S.”
Deliveries of BMW Motorrad
premium motorcycles and maxi
scooters in the first half of the year
were close to the extremely high
level achieved last year. In the year-
to-date, a total of 86,975 units were
delivered to customers, a decrease of
1.6% year-on-year. BMW Motorrad
is significantly refreshing its model
line-up in 2018, with nine new
models being introduced, and the
related adjustments in production
are affecting deliveries. BMW
Motorrad continues to strive for
sales growth across the full calendar
year.
KTM Industries AG reported a
record first half for 2018 with
motorcycle sales of 126,808
units (+15%). At € 821.8m,
revenues were +8% with EBIT
+19% at € 78.4m – the KTM
balance sheet position was
boosted by the sale of the
Pankl-Group to Pierer Industrie
AG-Group for € 103.5m. KTM
EBITDA was up at € 126.2m
from € 105.8m and says its
market share in Europe was up
by +36% (YoY) to a market
share of 11.3%, stimulated by
the successful launch of the
two-cylinder 800 cc KTM 790
Duke and the 401
Svartpilen/Vitpilen and 701
Vitpilen Husqvarna road
models.
18
Motorsport Aftermarket Group (MAG),
the parent company for several
leading powersports brands,
distributor of aftermarket products
and powersports retailers (Vance &
Hines, Performance Machine, Tucker
Distributing, Kuryakyn and J&P Cycles
among them) has named Mike
Buettner interim CEO of MAG and Bob
Peiser as Chairman of the MAG Board
of Directors.
Buettner is joining the MAG Board of
Directors and serving as interim CEO
until the search is completed for a
permanent CEO to replace the retiring
Andy Graves.
He previously served as MAG’s Chief
Financial Officer and SVP of Finance
and Administration from 2005-2007.
His experience also includes Chairman
of the Board for S&S Cycle and
executive positions within Moog
Automotive.
“I’m excited to come home and re-
engage in the powersports market,”
said Buettner. “I’m looking forward to
seeing old friends and establishing
new relationships. As guardian of
some the most iconic brands in the
industry, we must support not only the
brands but also the industry.
“While the market is going through a
transformation, our strong balance
sheet, growing new product pipeline,
and an employee base whose
horsepower is about to be unleashed,
I see only exciting times ahead.”
With fifteen years of CEO experience
and as many years of Board
experience, MAG say that “Peiser is a
natural addition to the senior
leadership team as Chairman of the
Board of Directors. He brings valuable
knowledge from working with
Bob Peiser becomes Chairman of
MAG after a long career in senior
powersports industry management,
including at America’s Powersports
Inc., a leading dealership group
America’s Powersports Inc., a leading
dealership group representing Harley-
Davidson, Honda, Polaris, BMW and
other OEMs, and strong aftermarket
distribution experience.”
“Like Mike, I am excited to join MAG
and look forward to working with our
entire management team to serve our
vendors, as well as our dealer and rider
Mike Buettner returns to MAG
having been Chief Financial Officer
and SVP of Finance and
Administration from 2005-2007.
Since then his experience also has
included being Chairman of the
Board for S&S Cycle and executive
positions within Moog Automotive
customers during the industry’s
transformation,” said Peiser.
Both leaders will join the MAG team
at the 78th annual Sturgis Motorcycle
Rally to meet dealers, vendors and
customers. They will also participate in
the American International Motorcycle
(AIM) Expo in October.
“The addition of these experienced
leaders demonstrates the investor
groups’ commitment to growth via
leveraging powersports expertise,”
said David Robbins, a member of the
MAG Board of Directors and a
Managing Director of Monomoy
Capital Partners, one of the company’s
major shareholders.
“The fact that dealer registrations for
the 2019 Tucker Dealer Show are
already expected to be 20 percent
higher than last year is proof that our
dealer and vendor customers support
our strategic direction.”
www.maggroup.com
Indian and Progressive Partner
on U.S. Display and Test Ride Tour
Indian’s Cruisers, Baggers and Touring
models are to go coast-to-coast in the
United States to reach riders at events
and dealerships across the country.
Partnering with Progressive
Motorcycle Insurance, the Indian
Motorcycle demo tour will travel to key
events and dealerships around the
United States to provide riders the
opportunity to test-ride Indian
motorcycles. The demo tour will visit
nearly every Indian Motorcycle
dealership in the calendar year, along
with 18 of the major motorcycle rallies
in the U.S.; demo rides will be free of
charge and riders can test as many
models as many times as desired.
Indian Motorcycle on Tour is a
traveling display that showcases select
models at various motorcycle and
AMERICAN MOTORCYCLE DEALER - AUGUST 2018
lifestyle events, including boat shows,
air shows, festivals and more. It allows
the brands to connect with both
existing and new riders in a very
grassroots and approachable manner.
“We’re excited to be collaborating
with Progressive on our display and
demo tour,” said Reid Wilson, Seni