Fox Factory Holding Corp. Announces Definitive Agreement to Acquire Custom Wheel House, LLC, a Leading Designer, Marketer, and Distributor of High-Performance Wheels, Performance Off-Road Tires, and Accessories | Fox Factory Holding Corp.Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”) announced today that its subsidiary, Fox Factory, Inc., signed a definitive agreement to acquire Custom Wheel House, LLC (“CWH”) from Thompson Street Capital Partners and other sellers. The purchase price for the transaction, which is subject to customary adjustments, is based on an enterprise value of $131.6 million and will be financed through a combination of cash on hand and borrowings from the Company’s line of credit. The transaction is expected to close late in the first quarter of 2023, subject to customary closing conditions, and to be accretive to the Company’s fiscal 2023 financial results.
CWH, based out of Rancho Dominguez, California, designs, markets, and distributes high-performance wheels, performance off-road tires, and accessories. The family of brands includes their premier flagship brand Method Race Wheels, along with Tensor Tire, and GMZ Race Products, which are geared towards the manufacturing and distribution of off-road performance products for automotive, truck, and utility vehicles. This acquisition is complementary to FOX’s upfitting and lift kit business and further broadens its product offering in a growing segment of the automotive industry.
