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Source: Holley announcement
BOWLING GREEN, Ky.– Holley (NYSE:HLLY), the largest and fastest growing platform for performance automotive enthusiasts, announced it has acquired substantially all of the assets of Baer Brakes, Arizona Desert Shocks (ADS), 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.
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Baer Brake System for Ford F-100 Project Truck
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.
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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.
