Yeah that’s right, it looks as though you’ll soon be able to buy shares in Fox Racing Shox! The company has put in their application to join the stock market and go public, with the aim at first being to raise $120 million. A chunk of this money will go towards clearing their debt of $52.9 million. That may sound like a huge amount of debt, but it’s not uncommon for a company of Fox’s size to operate with this kind of debt, and in 2012 they turned a profit of $14.2 million.
The price of the shares, and the number of them is yet to be decided, but if you’ve always fancied owning … More
Hero MotoCorp Ltd (HMCL) has purchased a minority stake in Erik Buell Racing. The Indian manufacturer will invest $25 million in the American company, earning a 49.2% share. Hero will have two directors and one observer on the EBR board of directors, but EBR founder Erik Buell will remain Chairman and CEO.
A press statement from Hero announcing the move states the $25 million investment will be … More
Snow Summit and Bear Mountain are for sale because some shareholders want to cash out, according to Richard Kun, president of Snow Summit Ski Corp., owner of the two Big Bear Lake resorts.
“We’re a fairly old, mature company, 60 years in existence,” Kun said Tuesday during a phone interview. “A number of shareholders have been with us that entire time, and some want to liquidate.”
Summit is not directly dealing … More
Volcom announced today that it is pulling the plug on its motocross program to focus its resources on the core channels that fostered the brand—skate, snow, and surf, as well as music and art.
“In an increasingly competitive and specialized global market it is imperative that we continue to simplify the Volcom brand message so that we can achieve maximum differentiation and voice amplification,” said Jason Steris, Volcom’s CEO, in the press release announcing the decision. “We have been extremely proud to have been a part of the motocross family for several years. However … More