MINNEAPOLIS--(BUSINESS WIRE)--Arctic Cat Inc. (Nasdaq:ACAT) today announced that it has completed the acquisition of Motorfist, LLC, a privately owned company based in Idaho Falls, Idaho, that designs, develops and distributes high-performance technical riding gear. Founded in 2009, Motorfist does business throughout North America, as well as Russia, Sweden, Norway, Finland, Japan, Iceland and Greenland. Terms of the transaction were not disclosed.
“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 T. Metz, Arctic Cat president and CEO. “Motorfist is an innovative, growing company in the power sports apparel market with a strong reputation as a provider of technical snowmobile riding gear. Adding an outstanding brand like Motorfist gives us a broader PG&A product offering for our North America and international markets. We are excited to welcome Motorfist’s employees into the Arctic Cat family.”
Arctic Cat will maintain the Motorfist brand positioning and name, and Motorfist will continue to operate independently with its current staff in Idaho Falls.
Brad Ball, Motorfist’s founder and president, said: “Our success over the past six years speaks to our passion for providing the riding community with the highest quality gear. I am proud of what we have built at Motorfist, and I am excited to enter a new chapter of growth with Arctic Cat.”
After only a few years of manufacturing, the Motorfist brand has set a high benchmark for premium snowmobile gear. Motorfist’s products are engineered with its proprietary eVent® waterproof, windproof and breathable fabric, delivering rugged solutions for harsh conditions.
About Motorfist
Motorfist designs, develops and distributes technical snowmobile riding garments and accessories. Motorfist provides a head-to-toe array of premium apparel products and support accessories, including boots, helmets and gloves. For more information, visit www.motorfist.com.
About Arctic Cat
Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles under the Arctic Cat® brand name, as well as related parts, garments and accessories. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements. The Company’s Annual Report, as well as the Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission, the Company’s press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words “aim,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that indicate future events and trends identify forward-looking statements including statements related to our fiscal 2015 outlook, business strategy, benefits of our co-branding partnership with Yamaha and expected product demand. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to: product mix and volume; competitive pressure on sales, pricing and sales incentives; increase in material or production cost which cannot be recouped in product pricing; unexpected delays in the introduction of new products; changes in the sourcing of engines; interruption of dealer floorplan financing; warranty expenses and product recalls; foreign currency exchange rate fluctuations; product liability claims and other legal proceedings in excess of reserves or insured amounts; environmental and product safety regulatory activity; effects of the weather; general economic conditions and political changes; interest rate changes; consumer demand and confidence; and those set forth in the Company’s Annual Report on Form 10-K for the year ended March 31, 2014, under heading “Item 1A. Risk Factors.” The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
