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Well before the firing of Harley-Davidson CEO Matt Levatich (and it was a firing, no matter how much the Bar & Shield brand touts its “mutual decision” narrative), there has been a wrestling of control over the future of the iconic American motorcycle brand.

Dwindling share prices on the New York Stock Exchange necessitated a change of regime at Harley-Davidson, as shareholders saw a continued loss on their investment with the Milwaukee firm; and thus, a loss of confidence in management’s ability to run the company.

Now with Matt Levatich out and Jochen Zeitz taking on the role of interim CEO and President of Harley-Davidson, a new battle is being fought – what is known in the investing world as a proxy fight.

Motorcycle racing is a profitable business, it turns out. The leading UK financial paper Financial Times reported yesterday that Bridgepoint Capital, the private equity firm that owns Dorna, among many other assets, has hit upon a relatively novel way of paying out investors, by transferring the roughly 40% of Dorna that it owns between one Bridgepoint fund and another. 

The proposed sale is a result of a review carried out by merchant bankers Lazard at the end of last year, with the aim of fixing a value and finding potential buyers. According to the FT, several private equity firms expressed an interesting in buying Bridgepoint’s stake, including former owners CVC. 

It surprising to us that there is so little investment in technologies and business in the two-wheeled space by the established players.

Maybe it is the conservative nature of the motorcycle industry, or maybe it is because motorcycle companies are just miserably bad at corporate development. Whatever the reason may be, it makes today’s headline an intriguing one.

This is because Yamaha Motor Corp. in Japan has just set aside $100 million to invest in technologies and business startups, over the next 10 years. 

Interesting news today on the business front of the powersports industry, as Tenneco Inc. announced its intention to purchase Öhlins Racing A.B. for $160 million.

The move would see Tenneco own a majority stake in Öhlins, while a minority position in the company would remain with founder and namesake Kenth Öhlin.

The move is an interesting one since Tenneco has been in the suspension business before, owning the Marzocchi suspension brand.

One of the more interesting developments announced at the EICMA show in Milan, Italy was the debut of the Arc Vector electric superbike, which is being back by InMotion Ventures, the investment arm of Jaguar Land Rover. Yes, as in the car manufacturer.

The link to Jaguar Land Rover was an easy one, as Arc founder Mark Truman was formerly part of the company’s skunk works team, called White Space. Other funding partners include Mercia Fund Managers, the Proof of Concept & Early Stage Fund which is part of the Midlands Engine Investment Fund, and a number of industry specialist angels.

Arc has been teasing the Vector for the past several weeks, with plenty of buzzwords to go along with its electric motorcycle offering. The company plans a multi-pronged approach to get into the motorcycle industry, which includes creating a line of smart apparel (co-developed with Knox) that includes a helmet with a heads-up display (HUD).

Bad news from San Francisco today, as we learn that Alta Motors has ceased business operations, effective immediately, sending the company’s staff home as the electric motorcycle manufacturer looks for future funding.

Talking to an anonymous source, Asphalt & Rubber has been told that Alta Motors is in the midst of a strategic wind down, as it looks for an outside acquisition or investment.

We bring you big news this first day of March, as Harley-Davidson has announced its strategic investment in Alta Motors, which will see the two American companies co-developing two new electric motorcycle models.

As one can imagine, the news has big ramifications for both brands. For Harley-Davidson, it means having access to cutting-edge electric vehicle technology, and a technical partner that can help them navigate the coming shift to electric drivetrains.

And for Alta Motors the news is perhaps even more impactful, as Harley-Davidson brings not only a key monetary investment into the San Francisco startup, but the deal likely provides access to a variety of assets for Alta, namely purchasing power with parts supplier, access to a worldwide dealer network, and instant credibility with other future investors.

For the immediate future though, Harley-Davidson and Alta Motors foresee their collaboration including two new electric motorcycles, which will be branded under the Harley-Davidson name. 

MV Agusta has finally closed a very important funding round, getting equity investment from ComSar Invest, which is backed by the Black Ocean Group, which in turn is owned by Russian billionaire Timur Sardarov.

The move sees MV Agusta able also to repurchase its stock from Mercedes AMG, which previously owned a 25% stake in the Italian motorcycle manufacturer.

The details of the ComSar deal however have not been disclosed, though we do know that the deal includes enough cash to finish MV Agusta’s recapitalization plan with its creditors and to begin its new, more focused, business plan for new models and motorcycle production.

Reuters continues to dish on Ducati’s possible divestiture from the Volkswagen Group, with news that several bids have been placed on the Italian motorcycle brand. Reuters says that amongst the bidders are several key brands like, Polaris, Bajaj, and Royal Enfield’s owners Eicher Motors.

Noticeably absent from the list of potential buyers however was the much talked-about Harley-Davidson, a name that the same Reuters reporters first offered as Ducati’s potential future owner.

Now Reuters offers us another name as the likely front-runner, pointing to Italy’s Benetton family (as in, the United Colors of Benetton), which has reportedly submitted a bid of $1.2 billion, through its investment arm Edizione Holding.