ONE Industries, an acquisition platform focused on the motocross aftermarket parts and accessories industry, has acquired Rush Racing, a UK-based importer and exporter of racing equipment. No financial terms were disclosed. ONE Industries is a portfolio company of Wedbush Capital Partners
Los Angeles, CA – September 16, 2009 – (Motor Sports Newswire) – Wedbush Capital Partners portfolio company Triple 7 Group, Inc. announced that its wholly-owned operating company, ONE Industries, acquired Rush Racing. Based in Honiton, Devon, United Kingdom, Rush Racing will operate as ONE Industries Europe with Tim Wadman remaining as managing director.
The Triple 7 Group family of companies includes ONE Industries, Valencia Sport Group and TAG Metals. Together, these companies design, market and distribute helmets, casual wear, protective gear, hard parts and accessories under the brands ONE, 661, TAG, Sunline and Royal for motorcycle, ATV and mountain biking enthusiasts. Wedbush Capital Partners, together with Riordan, Lewis & Hayden, invested in Triple 7 Group in 2007 to provide growth capital.
“ONE Industries Europe will provide a focused marketing, sales and distribution gateway into Europe for both ONE Industries and 661 Moto products, and will allow sister company VSG Europe to focus on bicycle product lines,” said Neil Calvesbert, president and CEO of Triple 7 Group, Inc. and One Industries. “With our own team on the ground, in the same time zone, we can further develop the European market. This will improve the competitiveness of our products while also providing strong profitability.”
“We are exceptionally pleased to have Tim Wadman join Neil and the rest of the Triple 7 team,” said Geoff Bland, managing director of Wedbush Capital. “Tim brings valuable relationships and has grown to become a recognized figure in the European Motocross Industry over the last 10 years.”
About Triple 7 Group
Triple 7 Group, Inc. was formed by two industry veterans to acquire and grow market leading brands in the motocross aftermarket parts and accessories industry. The Triple 7 family of companies includes ONE Industries, Valencia Sport Group and TAG Metals. Together, these companies design, market and distribute helmets, casual wear, protective gear, hard parts and accessories under the brands ONE, 661, TAG, Sunline and Royal for motorcycle, ATV and mountain biking enthusiasts. For more information, please visit www.oneindustries.com.
About Wedbush Capital Partners
Wedbush Capital Partners is a private equity firm focused on recapitalizations, growth investments, and management-led buyouts of lower middle-market companies. Wedbush Capital acquires and builds growing, profitable companies headquartered in the Western U.S. with revenues ranging from $10 to $50 million at the time of the investment. The firm’s preferred initial investment is $2 to $10 million of equity. Since 1980, Wedbush Capital and its professionals have invested in more than 80 companies in industries including consumer products and services, business and financial services and niche manufacturing. Wedbush Capital is an affiliate of Wedbush Morgan Securities, founded in 1955 and one of the largest investment banks and brokerage firms in the Western United States. For more information, please visit www.wedbushcapital.com or call (213) 688-8012.