This Week in Powersports Business

For the week of January 16th, 2022. Here are a couple of stories that came across my desk that I think are relevant and interesting to the powersports business community.

1. PARTS UNLIMITED WELCOMES NEW SOUTHWEST REGION SALES REP -

Parts Unlimited announced the newest sales rep for the Southwest region covering South Texas: Joe Nava.

Nava’s industry experience includes parts department selling and inventory in various Texas dealerships as well as previous racing in the Torcs series for several years.?He owns a 2015 YZ250F and 2020 ZX6R for his weekend riding.????

Outside of motorcycling, Nava enjoys playing basketball, trying new restaurants, and traveling.

2. The Toro Company Acquires Intimidator Group, Manufacturer of Spartan Mowers

BLOOMINGTON, Minn.--(BUSINESS WIRE)--Jan. 14, 2022--?The Toro Company?(NYSE: TTC) today announced that it has acquired privately-held?Intimidator Group, based in?Batesville, Arkansas.?The Intimidator Group?designs and manufactures Spartan Mowers, a professional line of zero-turn mowers known for exceptional performance, durability and distinctive styling. Sold through an established dealer network, Spartan Mowers has strong brand recognition in southern regions of?the United States, appealing to rural markets and large acreage customers.?Intimidator Group?also designs and manufactures an attractive line of powerful and versatile side-by-side utility vehicles that perform well in the toughest terrains.

“The addition of Spartan Mowers to our portfolio strategically positions us to be an even stronger player in the large and rapidly growing zero-turn mower market,” said?Richard M. Olson, chairman and chief executive officer of?The Toro Company. “Spartan’s product lineup complements our innovative?Exmark?and Toro branded equipment and provides unique opportunities to further leverage technology and design, procurement and manufacturing efficiencies. We are confident the combined efforts of our teams will help advance our strategic priorities while providing unparalleled products, technologies and service to our customers. This move also reinforces our commitment to disciplined capital deployment, including prudent investments in our business, strategic acquisitions, dividend growth and share repurchases, all of which position us to deliver compelling shareholder returns long-term.”

“Our success and growth is the result of our dedicated team of employees, dealers and supply partners for which we are truly thankful and excited to be taking this next step in our journey together,” said Robert and?Becky Foster, owners of?Intimidator Group. “The Toro Company has a rich history and proven track record of growing brands with the resources to fuel our future growth. With a shared commitment to furthering innovation, serving customers and supporting our people and communities, we look forward to joining?The Toro Company?and continuing to provide best-in-class products and service to our customers.”

The transaction has already received customary regulatory approvals. The purchase price was?$400 million, which was paid with a combination of cash on hand and short-term borrowings under the company’s existing revolving credit facility.?The Toro Company?expects this acquisition to be modestly accretive to fiscal 2022 adjusted earnings excluding transaction and integration expenses.

For calendar year 2021,?Intimidator Group?net sales were approximately?$200 million. To learn more about the?Intimidator Group?and Spartan Mowers, visit?www.intimidatorgroup.com.

The Toro Company?expects to provide updated full-year guidance that includes the acquisition of?Intimidator Group?when it reports its fiscal 2022 first quarter results.

3. Devine departs role with S&S Cycle - From Powersports Business - https://powersportsbusiness.com/top-stories/2022/01/17/devine-departs-role-with-ss-cycle/

4. Record sales in 2021 for Ducati, KTM, BMW - From Canada Moto Guide - https://canadamotoguide.com/2022/01/18/record-sales-in-2021-for-ducati-ktm-bmw/

5. Volcon Tops 36 Dealers with Close to 350 Dealership Applications Now in the Queue - from Motorsports Newswire - https://motorsportsnewswire.com/2022/01/18/volcon-tops-36-dealers-with-close-to-350-dealership-applications-now-in-the-queue/

Adds Two More Key Industry Veterans To Manage Growing Dealership Demand – Growing Roster of Talented Powersports Industry Salespeople as Volcon Starts 2022 off In High Gear

AUSTIN, TX –?January 18, 2022– (Motor Sports NewsWire) – Volcon Inc. (NASDAQ:?VLCN), the first all-electric, off-road powersports company, today announced that it has signed its 36th dealer and retained two industry veterans to manage the growing roster of dealerships across?the United States.?Steven Christian?and?Johnny Hayes, longtime motorsports industry veterans, join Volcon, effective immediately, to manage the Southern and Northwest territories, respectively.

Follow the link above to read the entire press release.

6. Dealership group grows to nine locations with acquisitions - The first month of 2022 is off to a strong start in the dealership acquisition space, continuing to show that well-run dealerships remain coveted purchases. And now there's another buy/sell transaction to report.

MOMS, the Manchester, New Hampshire-based family-owned dealership group, has acquired family-owned, multi-line dealerships in Connecticut and western Massachusetts in recent weeks.

READ MORE AT POWERSPORTS BUSINESS - https://powersportsbusiness.com/top-stories/2022/01/18/dealership-group-grows-to-nine-locations-with-acquisitions/

7. Nivel Parts & Manufacturing Acquires SnorkelyourATV - https://motorsportsnewswire.com/2022/01/19/nivel-parts-manufacturing-acquires-snorkelyouratv/

8. DEALERNEWS TOP 100 WOMEN IN POWERSPORTS PRESENTED AT AIMEXPO

30 years ago?Dealernews?magazine launched its Top 100 program to salute the outstanding achievements of North America’s powersports retailers. Today the Top 100 Women In Powersports were recognized at a luncheon held at?AIMExpo, the industry’s trade show. Ranging from racers and dealers to OEMs and influencers, recognition for women in this industry is long overdue.?

Read the entire press release HERE - https://www.dealernews.com/Home/post/dealernews-top-100-women-in-powersports-presented-at-aimexpo/2022-01-19

9. RICKY CARMICHAEL DELIVERS KEYS TO SUCCESS DURING AIMEXPO KEYNOTE - from Motorcycle Powersports News - https://www.motorcyclepowersportsnews.com/ricky-carmichael-delivers-keys-to-success-during-aimexpo-keynote/