Arctic Cat Acquires Motorfist
March 02 2015 - 6:30AM
Business Wire
Addition of Motorfist expands Arctic Cat’s
line of high-performance technical riding gear
Arctic Cat Inc. (Nasdaq:ACAT) today announced that it has
completed the acquisition of Motorfist, LLC, a privately owned
company based in Idaho Falls, Idaho, that designs, develops and
distributes high-performance technical riding gear. Founded in
2009, Motorfist does business throughout North America, as well as
Russia, Sweden, Norway, Finland, Japan, Iceland and Greenland.
Terms of the transaction were not disclosed.
Motorfist Rekon Jacket (Photo: Business
Wire)
“This acquisition complements our garment and riding-gear
business, and is an example of our strategy to grow through small,
bolt-on acquisitions,” said Christopher T. Metz, Arctic Cat
president and CEO. “Motorfist is an innovative, growing company in
the power sports apparel market with a strong reputation as a
provider of technical snowmobile riding gear. Adding an outstanding
brand like Motorfist gives us a broader PG&A product offering
for our North America and international markets. We are excited to
welcome Motorfist’s employees into the Arctic Cat family.”
Arctic Cat will maintain the Motorfist brand positioning and
name, and Motorfist will continue to operate independently with its
current staff in Idaho Falls.
Brad Ball, Motorfist’s founder and president, said: “Our success
over the past six years speaks to our passion for providing the
riding community with the highest quality gear. I am proud of what
we have built at Motorfist, and I am excited to enter a new chapter
of growth with Arctic Cat.”
After only a few years of manufacturing, the Motorfist brand has
set a high benchmark for premium snowmobile gear. Motorfist’s
products are engineered with its proprietary eVent® waterproof,
windproof and breathable fabric, delivering rugged solutions for
harsh conditions.
About Motorfist
Motorfist designs, develops and distributes technical snowmobile
riding garments and accessories. Motorfist provides a head-to-toe
array of premium apparel products and support accessories,
including boots, helmets and gloves. For more information, visit
www.motorfist.com.
About Arctic Cat
Arctic Cat Inc. designs, engineers, manufactures and markets
all-terrain vehicles (ATVs), side-by-sides and snowmobiles under
the Arctic Cat® brand name, as well as related parts, garments and
accessories. Its common stock is traded on the NASDAQ Global Select
Market under the ticker symbol “ACAT.” More information about
Arctic Cat and its products is available at www.arcticcat.com.
Forward-Looking
Statements
The Private Securities Litigation Reform Act of 1995 provides a
safe harbor for certain forward-looking statements. The Company’s
Annual Report, as well as the Report on Form 10-K, its Quarterly
Reports on Form 10-Q and other filings with the Securities and
Exchange Commission, the Company’s press releases and oral
statements made with the approval of an authorized executive
officer, contain forward-looking statements that reflect the
Company’s current views with respect to future events and financial
performance. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from historical results or those anticipated. The
words “aim,” “believe,” “expect,” “anticipate,” “intend,”
“estimate” and other expressions that indicate future events and
trends identify forward-looking statements including statements
related to our fiscal 2015 outlook, business strategy, benefits of
our co-branding partnership with Yamaha and expected product
demand. Actual future results and trends may differ materially from
historical results or those anticipated depending on a variety of
factors, including, but not limited to: product mix and volume;
competitive pressure on sales, pricing and sales incentives;
increase in material or production cost which cannot be recouped in
product pricing; unexpected delays in the introduction of new
products; changes in the sourcing of engines; interruption of
dealer floorplan financing; warranty expenses and product recalls;
foreign currency exchange rate fluctuations; product liability
claims and other legal proceedings in excess of reserves or insured
amounts; environmental and product safety regulatory activity;
effects of the weather; general economic conditions and political
changes; interest rate changes; consumer demand and confidence; and
those set forth in the Company’s Annual Report on Form 10-K for the
year ended March 31, 2014, under heading “Item 1A. Risk Factors.”
The Company does not undertake any obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
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Arctic Cat Inc.Chris Eperjesy, 763-354-1791Chief Financial
OfficerorPadillaCRTShawn Brumbaugh,
612-455-1754shawn.brumbaugh@padillacrt.com
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