Genuine Scooters undergoes recapitalization
May 10, 2011
Filed under Features
Livingstone Partners LLC, an international investment banking firm, announced the srecapitalization of its Chicago-based client, Genuine Scooters LLC. Livingstone acted as exclusive financial advisor. Terms of the deal were not disclosed.
Genuine Scooters has flagship brands Buddy and Stella. Genuine also sells scooter parts and accessories and operates a scooter dealership in Chicago, under the names Scooterworks USA and Scooterworks Chicago, respectively.
“Livingstone understood the brand value of Genuine Scooters,” said Phil McCaleb, Genuine’s founder and CEO. “They positioned us to secure the equity we needed to continue to grow and compete with the big guys and had our backs at every turn.”
“Genuine Scooters is a great company with an extremely bright future,” Livingstone director Joe Greenwood said. “Despite the challenging market conditions of the past several years, the Genuine management team has done a tremendous job positioning the company at the forefront of the American scooter market.”