Fox Acquires Race Face & Easton for $30.2M

This topic contains 0 replies, has 1 voice, and was last updated by  Xandei 4 years, 3 months ago.

Viewing 1 post (of 1 total)
  • Author
    Posts
  • #475


    Xandei
    Participant


    FOX will acquire Race Face/Easton in an asset purchase transaction for approximately $30.2 million. The transaction was financed with debt and includes a potential earn-out opportunity of up to a maximum of $17.4 million payable over the next two fiscal years contingent upon the achievement of certain performance-based financial targets. On a combined basis, Race Face/Easton generated approximately $23.6 million in unaudited net sales and unaudited Adjusted EBITDA of approximately $4.3 million in its fiscal year ended October 31, 2014. FOX expects Race Face/Easton revenue growth in the high single digit range, and expects to invest in Race Face/Easton to strengthen its infrastructure and maximize the long-term potential of the business. The Company plans to provide 2015 guidance along with its fourth quarter and fiscal 2014 earnings announcement. The Company anticipates the transaction to close by the end of 2014.

    Source / Read More: http://www.pinkbike.com/news/fox-race-face-easton-2014.html

Viewing 1 post (of 1 total)

You must be logged in to reply to this topic.