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.” 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