Mergers & Acquisitions
By The Online Investor Staff, updated Wed., Feb. 26, 5:36 PM
| This Slide: #68 of 100 |
Slide #68. Fox Factory Holding Corp — SCA Performance Holdings, Inc.
Acquirer:
Fox Factory Holding Corp (NASDAQ:FOXF)
Acquiree:
SCA Performance Holdings, Inc.
Details:
Fox Factory Holding Corp. (NASDAQ: FOXF) ("FOX" or "the Company") announced today that its subsidiary, Fox Factory, Inc., has signed a definitive agreement to acquire 100% of the issued and outstanding capital stock of SCA Performance Holdings, Inc. ("SCA") from Southern Rocky Holdings, LLC, a portfolio company of Kinderhook Industries. The $328 million transaction, exclusive of vehicle inventory, will be financed through an expanded and syndicated credit facility led by Bank of America. The Company also agreed to an additional $13 million of contingent, performance-based retention incentives for key SCA management payable over the next two years. The transaction is expected to close late in the first quarter of fiscal 2020, subject to customary closing conditions, and to be accretive to FOX's fiscal 2020 financial results.
Fox Factory Holding is a holding company. Through its subsidiaries, Co. is a designer, manufacturer and marketer of products and systems used on bicycles, side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. In its powered vehicle product categories, Co. provides products under the FOX, BDS Suspension, Zone Offroad, JKS Manufacturing, RT Pro UTV, 4x4 Posi-Lok, and Tuscany brands. Co.'s bike product offerings are used on a range of mountain bikes and road bikes under the FOX, Race Face, Easton Cycling and Marzocchi brands.
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