US Highland Idles Factory While Looking for Funding

01/20/2011 @ 5:09 pm, by Jensen Beeler9 COMMENTS

US Highland Idles Factory While Looking for Funding us highland viking 950 vtwin 635x423

Six months after US Highland lost three members of its executive team in a tragic small-plane accident, the American company has announced that it will be idling its Tulsa plant while it continues to finish its latest round of funding. Despite this news, US Highland is reportedly close to achieving its fundraising goals, and hopes to have production rolling again once the fundraising is complete.

The Southbridge Advisory Group (SAG) has been brought in to help find a new executive team for US Highland, and is also helping the motorcycle manufacturer find new investors. While any one of these goals would be a large undertaking on its own, having to contend both with raising capital and finding a new executive team is a daunting task.

“Negotiations are in final stages for the funding,” said SAG Managing Director Ron Brewer to Tulsa World. “Upon completing funding, US Highland will commence full operations in Tulsa (Mounds) again for the manufacturing and sale of their new product lines launching in 2011.”

Before the plane crash, US Highlands had 30 employees at its 33,000 square foot production plant in Mound, Oklahoma, just outside of Tulsa. Hopefully the company can find the necessary bridge capital to get motorcycle production going again, and complete the waiting customer orders.

Source: Tulsa World

Comment:

  1. Greg says:

    Erik Buell should team up with US Highland. He talked about getting into dirt bikes and they’ve already got the ball rolling in that department. A recognizable name like Buell’s might also get the attention of investors.

  2. Tom says:

    This announcement is not really a surprise. The leadership died at once and there has to be a restructuring and new leadership to even woo investors. If they are still closed say, 6 months from now, that would be a cause for concern.

  3. Pete says:

    I had the Buell thought too.

    Here is a motorcycle company without an executive.

    Erik is a motorcycle chief executive without a company.

    Worth a first date?

  4. Never say never, but there’s a funny thing about people who name companies after themselves…

  5. skadamo says:

    Thx 4 linky RT @Asphalt_Rubber: US Highland Idles Factory While Looking for Funding – http://aspha.lt/8b #motorcycle

  6. BikePilot says:

    If only we knew of an energetic, fresh JD/MBA type with an intimate knowledge of both business and the motorcycle industry…

  7. Damo says:

    I am still clinging to the hope that we will see Erik Buell solidify a deal with Rotax and start making bikes. Keep hearing rumors about it.