The past year has been a tumultuous one for the Motorcycle Aftermarket Group (MAG). In November 2017, the conglomerate filed for Chapter 11 bankruptcy protections, as it restructured its debt from missteps during the economic recession.
That process concluded in April of this year, with the company’s creditors (Monomoy Capital Partners, BlueMountain Capital, and Contrarian Partners) taking control and ownership of MAG.
Now trying to move forward, MAG has announced that Mike Buettner will become the company’s interim CEO, while Bob Peiser will serve as chairman of MAG’s Board of Directors.
The news comes as the Sturgis motorcycle rally kicks off in South Dakota, where both Buettner and Peiser will be in attendance, in order to meet customers and dealers who were affected by MAG’s restructuring. The pair will also be at the AIMExpo and the Tucker Dealer show, later this year.
The Motorsport Aftermarket Group (MAG) announced that it has successfully concluded its Chapter 11 proceedings, after the bankruptcy court accepted the company’s plan for reorganization and debt recapitalization.
As a result of the bankruptcy process, MAG is under new ownership, with creditors Monomoy Capital Partners, BlueMountain Capital, and Contrarian Partners now in control of the massive motorcycle parts, apparel, and commerce conglomerate.
For those who don’t recall, MAG entered Chapter 11 back in November 2017, with the debts of the company spreading out through the group’s many owned brands.
In Episode 67 of the Two Enthusiasts Podcast we cover some big news in the industry. We start by talking about the MAG Group’s recent bankruptcy announcement, and Yamaha’s recent stock buyback, both of which came within a week of each other and are rather complicated to explain.
Our focus then moves to racing, as Ben Spies announced that he will be returning to motorcycle racing, though now on a dirt bike. This launches us into a discussion about bringing up talent to the top levels of motorcycle racing, and how yesterday’s formula for making a champion doesn’t apply to today.
This then spurs a conversation about the changing landscape of the motorcycle industry, and how two-wheeled brands will have to adapt from baby-boomer focused strategies to a focus on younger generations.
The show is pretty interesting and covers a wide-range of topics that are percolating in the industry right now. We hope you will join the conversation, and leave us some audio comments at our new email address: email@example.com
One last note for our Californian listeners, we will be doing a live show at the Dainese D-Store in San Franciscoon December 13th, at 6:30pm (the show mentions an incorrect time, as schedules have changed since we recorded the show). We hope to see you there!
You can listen to the show via the embedded SoundCloud player, after the jump, or you can find the show on iTunes (please leave a review) or this RSS feed. Be sure to follow us on Facebook and Twitter as well.
The Motorsport Aftermarket Group (MAG) is not a name that motorcycle enthusiasts are usually familiar with, but the family of brands that the company owns certainly is: Performance Machine wheels, Roland Sands Design, Renthal handlebars, Vance & Hines exhausts, Tucker Rocky, J&P Cycles, etc. The network of brands has been struggling over the recent years though, and today we learn that many of them will be filing for Chapter 11 bankruptcy, while the overarching MAG Group business restructures its debt and finds new ownership. While this is not the sexiest news story to happen in the motorcycle industry this year, it is certainly one of the most important and complicated. As such, we will try to break it down in a digestible way for you.
There is more movement in the online retail space for motorcycles, as the Motorsport Aftermarket Group (MAG) is reported to be merging its two online stores: Motorcycle-Superstore and J&P Cycles.
According to Powersports Business, the Motorcycle-Superstore will be merged into J&P Cycles some time in 2017, consolidating its two online stores into one. It is expected that many of the staff at Motorcycle-Superstore will be let go during the merger.
The MAG Retail Group has completely divested itself of its media holdings, as we can now bring you word regarding the sale of Cycle News to the newly formed Powersport Media LLC company, which was founded by Sean Finley, Bryan Robb, and Jesse Ziegler. In the interest of transparency, Asphalt & Rubber readers should be aware of the fact that Finely and Robb also own Digital Throttle, an advertising network that caters to the motorcycle and automotive industries, and that Asphalt & Rubber is one of Digital Throttle’s clients, as is Cycle News. Back to the matter at hand, industry gossip suggests that this deal likely saved Cycle News from following the fate of its sister publication, Motorcycle USA, which was shutdown last week.
After 20 years of service, Motorcycle USA is going to shut its doors at the end of this week. The news is a shock to anyone in the industry, as Motorcycle USA was one of the largest daily news outlets in the space, with extensive industry knowledge, racing coverage, and bike reviews on its pages. The news came over Twitter, though we are sure that the MotoUSA team will have a prepared statement on their site shortly, which will explain the MAG Retail Groups decision more clearly. On a personal note, it will be a shame to see the publication close it doors. Without exception, Motorcycle USA employed some of the best people in the business, and it was always a pleasure to see them at industry events and press launches.
Motorsport Aftermarket Group (MAG) is probably not a name that many of our readers are familiar with, but it is the company behind brands like Performance Machine wheels, Roland Sands Design, Renthal handlebars, Vance & Hines exhausts, along with a list of other lesser-known aftermarket brands. Straying from its namesake, MAG made some waves recently when it acquired the Motorcycle Superstore online retail outlet.
Another story of interest involves a division of Motorsport Aftermarket Group: the MAG Media Group (MMG), which bought Cycle News back in 2010 and acquired Motorcycle USA with the Motorcycle Superstore purchase. Owning one of the oldest print publications in the business, as well as the largest web-based publication in the industry, MAG has realigned its MMG operations to consolidate the management of the two publications, with longtime editor Paul Carruthers taking on the role of Editorial Director in the business reshuffling.
The Motorcycle Aftermarket Group (MAG) continues to be a force of acquisition in the motorcycle industry, as the group has announced its purchase of Motorcycle Superstore. Forming from the purchase a Death Staresque retail group with Motorcycle Superstore and J&P Cycles, MAG has added one of the largest online retailers of sport, street, & off-road motorcycle products to its existing interest in the largest online v-twin parts and accessories retailer.
“Since founding Superstore 14 years ago, I’ve seen it grow from a humble start-up to one of the nation’s largest retailers in the powersports industry,” said Motorcycle Superstore Founder Don Becklin. “Joining forces with J&P Cycles and creating the Retail Group represents an exciting new opportunity. Superstore has found a strategic partner that opens the door to more success and growth for all parties involved.”
After 40 years of covering the motorcycle industry, weekly magazine Cycle News ceased publishing nearly three months ago, survived only its website. It looks like the brand will live on though, as Cycle News has been acquired by the Motorsport Aftermarket Group (MAG), the owner of such brands like Vance & Hines, Renthal, and Performance Machine. MAG will now own and operate the cyclenews.com site, and will bring back former editor Paul Carruthers, who left Cycle News right before it stopped publication. MAG plans on focusing with an online publication strategy, with the possibility of a print edition coming out at some later time.