ONE Industries acquired by private equity group
July 23, 2013
Filed under News
Los Angeles-based private equity firm Transom Capital Group announced that it has acquired ONE Industries, a pioneer in the action sports industry since 1997. The transaction will allow ONE Industries to expand its position as a leader in the motocross and mountain bike industries and continue to develop award-winning products. The company sells its products worldwide through several thousand dealers, both brick-and-mortar and online.
"ONE Industries represents a cornerstone acquisition for our portfolio and offers a platform from which we hope to expand our presence in the industry," said Ken Firtel, Managing Director of Transom Capital. "The brand has a reputation for excellence in the industry and substantial room to grow. We believe that Transom Capital can add a level of operational sophistication that will improve its performance both from a top and bottom line perspective."
"We believe Transom Capital is the right firm to steward the next stage of ONE's growth," said Tim Wadman, Managing Director of ONE Industries Europe and Rhett Souders, Chief Operating Officer & Chief Financial Officer of ONE Industries, in a joint statement. "It was important to us that the company find a partner that demonstrated a real commitment to the ONE and SixSixOne legacies. Transom Capital was simply the right fit. They exhibited passion for the industry and quickly understood the key issues and dynamics that underlie the company's success. We are eager to see where the company goes from here."
Russell Roenick, Managing Director at Transom Capital, added "We strongly believe that motorsports are primed for a major rebound and that mountain biking will continue to be an area of growth. What better way to participate in these spaces than to acquire four premium brands in ONE, SixSixOne, Sunline, and TAG Metals."
Terms of the transaction were not disclosed.