Fox Recapitalizes...Pete Fox Returns

Altamont Capital Leads Recapitalization of Fox Head; Pete Fox Named Chief Creative Officer

 

Altamont Capital Partners announced today that it has entered into a deal to lead the majority recapitalization of Fox Head, Inc. Recently, Altamont has been involved in deals to invest in HUF and Brixton, and earlier this year the investment firm also acquired Dakine and Mervin Manufacturing.

As part of the new deal with Fox, Pete Fox—former CEO of the company—has been named the Chief Creative Officer. 

 Altamont Capital Partners (Altamont) today announced it is leading a majority recapitalization of Fox Head, Inc. (Fox), the number one global motocross equipment, apparel and accessory brand. The current owners of the business, the founding Fox family, will continue to own a significant minority interest in the company. The transaction is expected to close in the next 7-10 days.

In addition to Altamont and the Fox family, the shareholder group participating in the deal includes Ricky Carmichael, the most successful motocross rider of all time and Fox athlete since 1988; Carey Hart, freestyle motocross legend and Fox athlete since 1997; and Hybrid Apparel, which will also become a strategic supply chain partner to the company. Fox will continue to operate as a private, independent company out of its headquarters in Irvine, California.

“With deep roots in motocross history, the Fox family has built a strong, authentic brand that consumers trust and respect, proven by decades of success,” said Keoni Schwartz, Co-Founder and Managing Director of Altamont Capital Partners. “Altamont is thrilled to have the opportunity to apply our expertise to help Fox continue to grow and reach its longer-term goals.”

The Fox brand was founded by Geoff Fox in 1974 as a distributor and manufacturer of high-performance motocross parts and within three years boasted a top-ranked professional motocross team. Hand-selected by Geoff Fox, the team’s apparel became increasingly popular with fans, leading to Fox’s emergence as a successful player in the U.S. motocross apparel industry. Fox is now the most recognized and best-selling brand of motocross apparel, boots and accessories in the world. The brand has since expanded its activities into MTB, BMX, surf and wakeboarding and has become an international leader in action sports.

“I have never been more optimistic about the future of the brand or the business,” said Geoff Fox, Founder of Fox Head, Inc. “We’re excited to work with Altamont as we prepare for a new chapter in our story. I’m confident that Altamont’s strategic advice and relevant experience guiding brands to reach their full potential will allow Fox to strengthen its business while preserving the integrity of the brand.”

Today Fox also announced changes to its management team, including the appointment of Pete Fox as the company’s Chief Creative Officer. Additionally, Nick Adcock, CEO, and Bill Bussiere, CFO, will leave the company to pursue other opportunities. Scott Olivet, who will be Executive Chairman on an ongoing basis, will become Interim CEO while executive searches are underway. Olivet has extensive experience in the action sports industries, having served as VP of Nike Subsidiaries, where he led the acquisitions of Hurley and Converse; as the CEO of Oakley Inc.; and as a current Director of Skullcandy. He is also an Operating Partner at Altamont Capital Partners and serves as Chairman of the Board of Dakine, Mervin, HUF and Brixton.

“I want to thank Nick Adcock and Bill Bussiere for their leadership, focus and accomplishments in helping to build a solid business. I wish them well on their next endeavor,” said Geoff Fox. “With Pete rejoining the team and a partnership with Altamont to support the ambitions of the business, Fox is poised for a very bright future.”

“The Fox team has done a tremendous job the last few years weathering a challenging market and positioning itself for the future,” said Scott Olivet. “The Fox brand is authentic and relevant across a number of action sports so we are in the enviable position of being able to choose from a range of growth opportunities. But it’s clear that building on our leadership in motocross will always be our first priority. We will be focused on gaining leadership in product categories where we are not currently number one, increasing the pace of innovation for our consumers, and harnessing our innovation, technologies and athlete and brand stories to serve the market in a compelling way. I’m honored to be part of what Geoff, Greg, Pete, Josie, Anna and John Fox have built over 40 years and to help write the next chapter of success.”

Fox Head Appoints Pete Fox as Chief Creative Officer 

Irvine, Calif., Dec. 10, 2014 – Fox Head, Inc., the number one motocross equipment, apparel and accessory brand, today announced that Pete Fox will rejoin the company in the newly created role of Chief Creative Officer (CCO). Fox will report directly to Interim CEO Scott Olivet with his appointment being effective immediately. 

Formerly the company’s President and CEO, Pete Fox is rejoining the business in an executive management capacity with responsibility for the creative direction of the brand. As CCO, he will directly manage the Design, Marketing and Sports Marketing teams. In addition to his new role at the company, Pete will be a substantial minority investor and will maintain his seat on the Board of Directors 

“I have always been passionate about developing high-performance products for our athletes and telling unique brand stories, and I couldn’t be more excited to have the opportunity to focus on it full time,” said Pete Fox. “I’m going to renew my efforts of 28 years to accelerate our innovation, focus our brand message and sharpen our storytelling. The newly created CCO position is an ideal fit and will allow me to have the greatest impact on the company. I look forward to working with Scott and the entire leadership team to take Fox to the next level of performance. 

Since joining the company full time in 1986 at the age of 18, Pete Fox has been integral to the brand vision, marketing and design innovation of Fox products, such as the 360 Racepant, V-Series of motocross helmets and the revolutionary Instinct boot. In addition, Pete directed all marketing campaigns and has recruited and worked closely with the biggest names in motocross – Rick Johnson, Doug Henry, Jeremy McGrath, Jeff Emig, Ricky Carmichael, James Stewart, Ryan Dungey, Chad Reed and Ken Roczen 

For more than 40 years, the world’s best riders have turned to Fox for cutting-edge MX performance gear. “With our new partner’s long-term perspective and additional financial resources, we are going to maintain our focus on our athletes and core riders and significantly ramp up the pace of innovation,” continued Fox. “We have incredible insights into the needs of athletes across all product categories, including racewear, boots, helmets and body armor. Our customers and retailers are telling us they want more and they want it faster and we intend to deliver on this request.”

“Fox is at an exciting juncture in its history and is poised for growth,” said Executive Chairman and Interim CEO Scott Olivet. “Pete is passionate about the brand, our athletes, our customers and our employees. We are thrilled that he will be leading the company’s creative direction, focusing on innovation and creating a bigger brand voice. Over his long career with Fox, Pete has held many roles, including Creative Director, Co-President and CEO. During that time, he gained key insights into the needs of motocross riders, created invaluable relationships throughout the industry and developed an intimate knowledge of the brand. Pete is a truly creative mind who will add immediate value to product innovation and play an integral role forming the next phase in the company’s evolution.”

New Jersey Tinton Falls’ residents would leave if motocross passes

Asbury Park Press

TINTON FALLS – Some residents of the borough said they would consider leaving if a proposed three-track motocross before the Zoning Board is approved.

“I would absolutely. It’s (the motocross) good for out-of-towners but it’s not fair to residents here,” said Laura Negron, a 60 year-old Fox Chase resident. “The noise will carry, the traffic will grow. We’re already contending with a landfill; now we’ll have to deal with this.” The applicant, Jersey Shore MotoCross, is asking the Zoning Board for a use variance to build its track on 21 acres of land currently owned by Dominick Mazza on Shafto Road. A motocross is not a permitted use in town, said Thomas Hirsch, the attorney for the Zoning Board. The complete proposal includes a 3,200-square-foot registration and pro-shop building, a 2,400-square-foot maintenance building and parking for 405 vehicles.

The application hearing began in October 2013 and drew crowds of concerned residents, forcing the township to hold hearings in a larger facility. There was no need Thursday evening to seek different accommodations. Though the hearing was well attended, the number of residents easily fit in the township’s regular meeting room in the municipal complex. “There are a lot of problems with it. It’s very unclear what’s going to happen here,” said Christopher Payne, 29, and also a resident of Fox Chase. “They say it’s just going to be a practice facility with occasional races — that’s going to draw crowds.”

Payne said he thinks the motorcross may also devalue property in the borough. On Thursday, the Zoning Board heard testimony from the applicant’s sound expert and engineer. Of significant concern to the Zoning Board and its experts was the design of the parking lot. The applicant is asking for a waiver to build a gravel parking lot without landscaping, which Zoning Board Engineer Jeff Rauch said are both requirements of borough ordinances. The applicant’s engineer, Timothy Lurie, said the applicant has revised its plan and will pave half of the parking lot. However, Rauch suggested full pavement. “I have an objection to granting that use because when you have gravel parking lots you can’t have striping designating parking. I believe that it should be paved and striped,” Rauch said. “The other issue I have is people with the bikes will be doing maintenance in the parking lot. You have gravel, if you have spillage of gasoline or oil it could percolate into the ground.”

Mark Aikins, the applicant’s attorney, said bike maintenance would not be allowed in the parking lot. “Maintenance would be conducted under a roof in a building.” said Aikins.

The hearing will resume on Jan. 15 at the borough’s municipal complex.

Works Connection Christmas

Celebrating 25 years of delivering high quality, innovative dirt bike parts.

Hangtown 1991...The Real Story

Recently an old video showed up of the infamous Hangtown Mud race in 1991. This was the year when torrential rains pounded the Sacramento area for days and before the Dirt Diggers had poured thousands of tons on new dirt onto the track. Slippery as snot doesn't begin to describe track condtions in '91. This was still the era of the high powered two stoke. Nobody really likes a mud race and the factory pros balked at riding in these conditions. The officials were faced with a dilemma, cancel and lose big $$$$ or try to force the pros to ride. Fortunately a solution presented itself. The solution involved our very own #33...here I'll let him tell it. 

"We (The Vet Pros) were sitting on the line while the riders were having a meeting with the AMA and wanting to cancel because it was not possible to make a lap. We were getting cold sitting there when Kevin Henry from the Dirt Diggers walked by and I asked him what the hold up for our race was. He said the Pro riders did not want to ride and the AMA was going to cancel because no one could get around the track. I told Kevin I could and he said show him and he would run us. So he hopped on the back of my bike and I rode him to the first turn let him off then took off to bust out a lap laughing my ass off all the way around as the spectators began cheering because they wanted to see a race and they were getting cold and bored.

When I came back to the line Cheryl gave me new goggles and Kevin told us to fire the bikes up and let us go.

We completed our moto and the Pros were lined up when I came off the track, they couldn’t say no one could make a lap when a bunch of geezers just rode, they would have looked pretty lame to the spectators!  They were not happy. I won and Dave Coupe’ got second. But it saved the Dirt Diggers literally tens of thousands of dollars by not being cancelled and having to refund ticket and sponsor money.

Thanks for the reminder, it made my day!"

#33

The local boys were not deterred by the conditions and the day was saved. The fans, despite the cold, wet day had a blast and got to see some good racing although it was sometimes tough to identify their favorite rider. Now you know the rest of the story.

If you were there let us know what you remember. 

Fly Racing Christmas Goodies!

Fans, athletes enjoy motocross for Thanksgiving

St. George Daily Spectrum

Brandon Mullens 12/1/14

While families were enjoying turkey and stuffing at home on Thanksgiving, motocross athletes and fans were enjoying young men, women and kids racing on the dirt.

The 2014 Mesquite MX Winter Nationals was held this past week at the Mesquite MX Park, where about 300 riders from all classes, ranging from pee-wee to 450cc, raced Thursday through Saturday.

All eyes were on professional supercross rider, Mike Alessi, who won all the races he competed in, including the supercross main event Saturday night.

Alessi won the grand prize of $3,000 for his victory in the main event, which featured pro racers such as Alessi, Kyle Partridge, Jared Hicks, Tyler Bowers, Michael Leib and other pro riders.

"It was a great week here and I enjoyed it," Alessi said. "I couldn't of asked for a better weekend spending with all the fans and local racers here."

There was no other place he'd rather be than on a motocross track on Thanksgiving weekend, he said.

Alessi also said the event helped him prepare for Anaheim One.

It was the first time new Mesquite MX owners, Jason, Yvette and Connie Shaw hosted the event.

"I think the event turned out to be good, but we hoped it would be a bigger turnout," Jason said. "It was awesome having all these big name brands come out to compete."

Jason said he hopes to draw bigger crowds and more racers next year by making new track layouts, and having riders vote for a schedule in which they get to choose when they want to race and practice.

On Thanksgiving Day, the riders and families were able to feast on a Thanksgiving dinner while watching riders race. Some fans also won prizes during Winter Nationals like motocross gear and bikes.

For more information on Mesquite MX, visit www.mesquitemx.com.

Atlas - Reimagined for 2015

 For 2015 we have completely re-done our entire product line. By refining, reimagining, and studying every aspect of our revolutionary Atlas Original and Atlas Carbon - We were able to create the best products we have ever made. Sleek, weightless, more comfortable, and more adjustable than ever... Welcome to a reimagined 2015.

www.atlasbrace.com

YZ 295 Project

We have wrapped up our YZ project, at least for now. It has been a lot of fun and we made some significant changes to make an old bike remain competitive. I'm sure we will revive this project in the spring to see if we can make more improvements.

Matrix Concepts The Beginning

 

Matrix Concepts began shipping in the spring of 2010 from a small 700 sq. ft. building in Valencia, California. Though it has not always been during this tough market and economy, we have kept the throttle wide open and want to share some key milestones we have had since the beginning.

• We are still headquartered in Valencia, California but have expanded and grown into an 18,000 sq. ft. building in which we are thrilled to celebrate our 20,000th shipment that was shipped last week and also finished out our best third quarter! We also have an additional office/warehouse in Vancouver, Canada, and in spring of 2015 we will be opening an office/warehouse in Europe in the UK. We are very pleased to have fifty world-class distributors around the world stocking and selling our brands.

• We started with five products: plastic composite Stands, Ramps, Utility Cans, Tie Downs, and Work Mats. We have expanded our product line to include many new garage and track necessities and now offer over 500 part numbers.

• We launched 1.7 Cleaning Solutions and will be launching a complete line of high-end performance controls called NEXT COMPONENTS this December.  

• While our brand is used and endorsed by some of the best teams, and most famous riders in the world such as Ryan Villopoto, Chad Reed, and James Stewart to name just a few, we have also won over fifty amateur and professional championships. In addition, we have legends like Bob Hannah and Jeremy McGrath on our development team!

During this time of celebrating Thanksgiving in the United States, we want to applaud and say thank you to all of our employees, vendors, business partners, distributors, dealers, team riders, media, family, supporters, and customers for their continued support. We can't wait to show you what we have in store for you in 2015 and beyond! Happy Thanksgiving to all! 

To Join Team Matrix: We are now accepting 2015 Rider Resumes. http://www.matrixracingproducts.com/sponsorship http://www.hookit.com/brands/matrixconcepts/

Works Connection Sales Day!

 

BLACK FRIDAY SALE!!! 

One day only!

30% off*

Free Freight**

Use promo code  BLACKFRIDAY14  at checkout.
24 HOUR SALE!!!
Friday November 28th, 2014 from 12:00am - 11:59pm (PST)

* Offer valid on online orders only, and limited to 'in stock' items only.

Not valid on sale or closeout items. 30% off of Retail Pricing.

Cannot be combined with any other discount offer.
** FREE FREIGHT (ground) on orders over $ 150 (after discount).

Free Freight available to 'Continental US only'.

About Works Connection:

Established in 1989 with the desire to produce ‘Works’ type products and make them available to the general riding public, Works Connection continues that original idea today through constant evolution and expansion of their unique product line developed from ‘race-tested’ feedback and product research. 

For more information on Works Connection products, go to www.worksconnection.com