Investcorp (the Bahrain Sovereign Investment fund/BIC), who bought Dainese from founder Lino Dainese in 2014 (for € 130m), has judged that the time is right to do what most private equity investors do with their acquisitions sooner or later - take the profit and "flip the asset." In a deal said to be worth some € 630m ($692m) including debt, the new owner is Washington D.C. headquartered private equity investor The Carlyle Group (CG.O). During its ownership, Investcorp says it more than doubled Dainese's sales to € 250m euro and expanded core earnings (EBITDA) at a double-digit rate annually. Lino Dainese is credited with many firsts, not least the back protector, knee sliders and the wearable air bag. He diversified his business by adding the legendary 1947 founded Italian AGV helmet brand in 2007.
Performance Brokerage Services (PBS) reports the sale of Four Corners H-D and Four Corners Powersports of Farmington, New Mexico, by owners Tom McCreery and Gary Almond to Joe Washburn and Pete Tabor. Originally founded in 1963 as Desert Sports, McCreery and Almond themselves acquired the businesses in 2002 and these days sell for H-D and Polaris from a state-of-the-art downtown Main Street purpose-built facility. Retirement beckons for the former owners - McCreery additionally recently sold his Salem, Or. dealership. Former telecomms professionals out of Denver, in 2015 Washburn and Tabor bought Fun Center Cycles - a motorcycle, off-road and PWC store. These days they have two such outlets in Colorado. Reflecting the ongoing 'churn' in the powersports industry, especially among H-D store owners, PBS has advised on the sale of over 250 dealerships of all kinds in the past five years - 72 in 2021 alone.
SEMA reports that U.S. Representative Bobby Rush (D-Ill.) has introduced the 'Right to Equitable and Professional Auto Industry Repair' Act (REPAIR Act). "This crucial Federal legislation is introduced to provide consumers rights to their vehicle's data and safeguard a free and fair repair market." The move is applauded by SEMA plus The Automotive Aftermarket Suppliers Association (AASA), Auto Care Association and CAR (Consumer Access to Repair) Coalition. "The legislation will ensure the preservation of consumer choice, a fair marketplace, and the continued safe operation of the nation's 288 million registered passenger and commercial motor vehicles, 70% of which are maintained by independent repair facilities." www.sema.org
Wally Brown Racing has confirmed the signing of James Rispoli for 2022 - WBR is to campaign a KTM 890 Duke in a limited schedule in the Mission Production Twins presented by Vance & Hines class. Rispoli earned the 2020 Mission Production Twins championship on the strength of seven wins and four runner-ups and returns to the class following a season competing in the premier Mission SuperTwins category. The New Hampshire native is a two-time AMA Pro roadracing national champion, a British Superbike vet, and a two-time AMA Bonneville Salt Flat Land Speed Record holder.
GOMR (Grumpy Old Men Racing) has signed Brandon Price to compete in the 2022 Mission SuperTwins presented by S&S Cycle class aboard an Indian FTR750. GOMR - which previously competed as BriggsAuto.com Racing - will continue to be overseen by Johnny and Sarah Goad, with mechanical assistance from Tom Draina and Caylee Goad; Russ and Illene Briggs will provide the resources to back the operation. GOMR will also field rising star Tyler Scott in the Parts Unlimited AFT Singles presented by KICKER class. Scott - the reigning MotoAmerica Junior Cup champion - will run a limited Progressive AFT schedule in conjunction with his roadracing efforts. Scott's dad, former professional flat track racer Mike Scott, will serve as his builder/tuner, with Davey Loikits rounding out the crew.
The 2017 Parts Unlimited AFT Singles presented by KICKER Champion Kolby Carlile is to compete on the H-D XG750R for the 2022 Mission Production Twins presented by Vance & Hines Championship under the KC36 banner with title sponsorship from Las Vegas Harley-Davidson. After claiming five career victories and a national title aboard 450 cc single-cylinder machinery, the New York native stepped up to twin-cylinder competition full time in 2019.
AFT has announced that veteran sportscaster Ralph Sheheen will join the "Voice of AFT" Scottie Deubler in the broadcast booth to provide in-depth coverage of the 2022 season. Deubler will be calling a 14th straight season for AFT, while Kristen Beat will provide key insights from the pits. Sheheen is one of the most recognized voices in US motorsports with more than three decades of nationally televised broadcasting experience. Riki Rachtman - master of mayhem in both the motorsports and music worlds - will return for a third consecutive season to provide additional color from the pits at select rounds.
Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news, RideApart.com, Motor1.com, Cycle World, motorbikewriter.com
