Adds to Holley’s Capabilities in Performance Vehicle Appearance, Braking, Suspension, and Wheels
Holley (NYSE:HLLY) (“Holley” or “the Company”), the largest and fastest growing platform for performance automotive enthusiasts, today announced it has acquired substantially all of the assets of Arizona Desert Shocks (ADS), Baer Brakes, 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. 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.
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.
Forward-Looking Statements / Safe Harbor Statement
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Holley’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “or” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Holley and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the ability to recognize the anticipated benefits of the acquisitions, which may be affected by, among other things, competition, the ability to maintain relationships with customers and suppliers and retain management and key employees, and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Prospectus filed with the U.S. Securities and Exchange Commission (“SEC”) filed on July 28, 2021, and that are otherwise described or updated from time to time in Holley’s filings with the SEC. Although Holley believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements or projections set forth herein will be achieved or that any of the contemplated results of such forward looking statements or projections will be achieved. There may be additional risks that Holley presently does not know or that Holley currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Holley undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Ross Collins or Stephen Poe
Alpha IR Group