The Minneapolis Star Tribune newspaper is reporting that Arctic Cat Inc. has acquired Idaho-based Motorfist LLC, a maker of high-performance snowmobile clothing and accessories.
Motorfist, based out of Idaho Falls, Idaho, is privately held, and terms of the deal were not disclosed.
Motorfist was founded in 2009 and sells its products in North America, Russia, Sweden, Norway, Finland, Japan, Iceland and Greenland. The company makes jackets, bibs/pants, boots, helmets and gloves.
“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 Metz, Arctic Cat’s president and CEO told newspaper.
It is the first acquisition under new CEO's Chris Metz’s tenure. He was named CEO in November and was most recently a managing director of Sun Capital Partners.
“I am proud of what we have built at Motorfist, and I am excited to enter a new chapter of growth with Arctic Cat,” said Brad Ball, Motorfist’s founder and president, added to interview.
With over 30 employees, Motorfist’s will continue to operate independently out of their Idaho Falls location.
Source: Minneapolis Star Tribune
