Post by DynoDave on Nov 27, 2018 20:31:19 GMT -5
Holley Performance trades hand among private equity firms
"There’s money to be made in aftermarket performance parts. Just take a look at the recently completed SEMA show in Las Vegas. Or, just ask Sentinel Capital Partners, which recently acquired Holley Performance Products in a private deal with another venture capital firm...None of these acquisitions and divestitures should surprise anyone. Holley has not been part of the Holley family for decades and business is simply business. These firms find opportunities they think will bring them money and they go for it. As for the acquired companies, people get into business to make money. If they make enough, they get noticed and the investors start lurking around. While consolidation might seem scary in some regards (redundant products or employees being phased out among them), it also means that there is a strength with so many of these aftermarket brands under one umbrella, and that the investors want to grow these businesses and make money with them.
UPDATE (27. November 2018): We checked in with Driven Performance Brands, and director of marketing Matt Kehoe got back to us with some answers regarding the future of Holley, its affiliated companies and competing brands under the Driven umbrella. Mark let us know that Tom Tomlinson, Holley’s president and CEO since 2009 will now be the boss of all of Driven Performance Brands, that Holley will remain in Kentucky, that the company has no current plans to reduce any existing brands, and that the company will remain consumer focused with an emphasis on “exciting new products” and “reinvigorat[ing] the brands that have recently been added to our portfolio.” Mark describes his boss, Tomlinson, as a “gearhead” running the business “on a day-to-day basis with the support of his team of gearheads.”
Read the whole story HERE
"There’s money to be made in aftermarket performance parts. Just take a look at the recently completed SEMA show in Las Vegas. Or, just ask Sentinel Capital Partners, which recently acquired Holley Performance Products in a private deal with another venture capital firm...None of these acquisitions and divestitures should surprise anyone. Holley has not been part of the Holley family for decades and business is simply business. These firms find opportunities they think will bring them money and they go for it. As for the acquired companies, people get into business to make money. If they make enough, they get noticed and the investors start lurking around. While consolidation might seem scary in some regards (redundant products or employees being phased out among them), it also means that there is a strength with so many of these aftermarket brands under one umbrella, and that the investors want to grow these businesses and make money with them.
UPDATE (27. November 2018): We checked in with Driven Performance Brands, and director of marketing Matt Kehoe got back to us with some answers regarding the future of Holley, its affiliated companies and competing brands under the Driven umbrella. Mark let us know that Tom Tomlinson, Holley’s president and CEO since 2009 will now be the boss of all of Driven Performance Brands, that Holley will remain in Kentucky, that the company has no current plans to reduce any existing brands, and that the company will remain consumer focused with an emphasis on “exciting new products” and “reinvigorat[ing] the brands that have recently been added to our portfolio.” Mark describes his boss, Tomlinson, as a “gearhead” running the business “on a day-to-day basis with the support of his team of gearheads.”
Read the whole story HERE
