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News Breaks
March 6, 2014
08:14 EDTFOXFFox Factory to acquire assets of Sport Truck USA for $44M
Fox Factory announced it has entered into a definitive agreement to acquire the assets of Sport Truck USA, a full service, globally recognized distributor of aftermarket suspension solutions. Sport Truck primarily designs, markets, and distributes high quality lift kit solutions through its brands, BDS Suspension and Zone Offroad Products. FOX will acquire Sport Truck in an asset purchase transaction for approximately $44M due at closing. The transaction is being financed with debt and includes a potential earn-out opportunity of up to a maximum of $29.3M payable over the next three years contingent upon the achievement of certain performance based financial targets. In 2013, Sport Truck generated approximately $34M in net sales and adjusted EBITDA of approximately $7M based upon Sport Truck's unaudited historical financial statements. The transaction is expected to be slightly accretive to FOX's FY14 earnings excluding transaction costs with the majority of the financial benefit to be realized in FY15. The company anticipates the transaction to close by the end of March.
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July 16, 2014
16:22 EDTFOXFCompass Diversified announces partial divestiture of Fox Factory
Compass Diversified (CODI) announced today that Fox Factory Holding Corp. (FOXF) closed on a public offering of 5.75M shares held by certain FOX shareholders, including the company, at a price of $15.50 per share for total net proceeds to selling shareholders of approximately $84.4M. As a selling shareholder, the company sold a total of 4.47M shares of FOX common stock, including 633,955 shares sold in connection with underwriters' exercise of the over-allotment option in full, for total net proceeds of approximately $65.5M. Upon completion of the offering, CODI's ownership in FOX was lowered from approximately 53% to 41%, or 15,108,718 shares of FOX's common stock.

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