Holley Revs Its Acquisition Engine, Acquires Four Enthusiast Brands in Highly Strategic Product Categories
10 Janvier 2022 - 1:30PM
Business Wire
Adds to Holley’s Capabilities in Performance
Vehicle Appearance, Braking, Suspension, and Wheels
Holley (NYSE:HLLY) (“Holley” or “the Company”), the largest and
fastest growing platform for performance automotive enthusiasts,
today announced it has acquired substantially all of the assets of
Arizona Desert Shocks (ADS), Baer Brakes, Brothers Trucks, and
Rocket Racing Wheels during the fourth quarter of 2021.
“We are excited to welcome Arizona Desert Shocks, Baer Brakes,
Brothers Trucks, and Rocket Racing Wheels to the Holley family of
enthusiast brands,” said Tom Tomlinson, Holley’s President and CEO.
“These acquisitions are in highly strategic product categories that
are powertrain agnostic with applicability to the emerging
opportunity in electric vehicles and electric powertrain
conversions. The acquisition of ADS augments Holley’s existing
capabilities in on-road performance suspension systems by adding
off-road expertise. Baer Brakes introduces a new product category
to Holley and brings us tremendous brake system expertise, moving
us closer to our goal of providing complete vehicle solutions to
our enthusiast consumers. Brothers Trucks further enhances our
offerings in truck and SUV appearance items and Rocket Racing
Wheels strengthens our offerings in wheels for both cars and
trucks.”
“These acquisitions reflect our commitment to invest
strategically to broaden and diversify Holley’s range of
performance products, focusing on vehicle platforms our enthusiast
consumers love,” said Vinny Nimmagadda, Holley’s Executive Vice
President of Corporate Development & New Ventures.
“Importantly, we believe they help unlock and expand new and large
addressable markets of strategic importance to the Company.”
Holley completed these acquisitions for approximately $56
million during the fourth quarter of 2021. The transactions were
financed through a combination of cash on hand and Holley’s new
credit facility. For 2022, Holley expects these acquisitions to
contribute net sales of approximately $30 million.
About Holley
Holley Inc. (NYSE:HLLY) is a leading designer, marketer, and
manufacturer of high-performance products for car and truck
enthusiasts. Holley offers the largest portfolio of iconic brands
that deliver innovation and inspiration to a large and diverse
community of millions of avid automotive enthusiasts who are
passionate about the performance and personalization of their
classic and modern cars. Holley has disrupted the performance
category by putting the enthusiast consumer first, developing
innovative new products, and building a robust M&A process that
has added meaningful scale and diversity to its platform. For more
information on Holley, visit https://www.holley.com.
Forward-Looking Statements / Safe
Harbor Statement
Certain statements in this press release may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Holley’s future financial or operating
performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“or” or the negatives of these terms or variations of them or
similar terminology. Such forward-looking statements are subject to
risks, uncertainties, and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. These forward-looking statements
are based upon estimates and assumptions that, while considered
reasonable by Holley and its management, are inherently uncertain.
Factors that may cause actual results to differ materially from
current expectations include, but are not limited to, the ability
to recognize the anticipated benefits of the acquisitions, which
may be affected by, among other things, competition, the ability to
maintain relationships with customers and suppliers and retain
management and key employees, and other risks and uncertainties set
forth in the section entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in the Prospectus filed with
the U.S. Securities and Exchange Commission (“SEC”) filed on July
28, 2021, and that are otherwise described or updated from time to
time in Holley’s filings with the SEC. Although Holley believes the
expectations reflected in the forward-looking statements are
reasonable, nothing in this press release should be regarded as a
representation by any person that the forward-looking statements or
projections set forth herein will be achieved or that any of the
contemplated results of such forward looking statements or
projections will be achieved. There may be additional risks that
Holley presently does not know or that Holley currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. Holley undertakes any duty to
update these forward-looking statements, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220110005274/en/
Investor Relations Ross Collins or Stephen Poe Alpha IR
Group 312-445-2870 HLLY@alpha-ir.com
Holley (NYSE:HLLY)
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