FirstPathway Partners Commits $20 Million in EB-5 Funding to Erik Buell Racing LLC

MILWAUKEE, WI – July 24, 2012 – (Motor Sports Newswire) – Investment fund manager FirstPathway Partners LLC today announced it has committed $20 million in EB-5 investment funding to Erik Buell Racing LLC, the East Troy manufacturer of the EBR brand of world-class sport motorcycles. The funding will allow EBR to design and produce additional models of street sport motorcycles and to grow its international exports. EBR also will expand its facility, directly create several hundred new, good-paying jobs for Wisconsin workers and support hundreds of additional indirect jobs.

“EBR motorcycles are made in America and in great demand worldwide. This investment will create good manufacturing and engineering jobs in Wisconsin and greatly strengthen a local company’s position in the global marketplace,” said Bob Kraft, chairman of FirstPathway Partners.

Erik Buell, founder and owner of the company that bears his name, is a recognized pioneer in racing motorcycle technology. A former Harley-Davidson engineer, he started a company – Buell Motorcycle Company, which later became a subsidiary of Harley-Davidson – in 1983. In 2009, Harley ended the Buell line to focus on its own brand. Mr. Buell launched Erik Buell Racing later that year. The company produces high-end, limited-edition street motorcycles under the EBR brand, provides engineering design services, and also runs a successful race team sponsored by Hero MotoCorp and AMSOIL. The team races EBR 1190RS in the top U.S. motorcycle series, AMA Pro Racing Superbike. EBR is currently third in the manufacturers’ championship, behind Yamaha and Suzuki, and has a rider in fourth place in the riders’ championship.

“Our research shows a very strong global market for this kind of motorcycle, and this funding will allow motorcycles designed and assembled in East Troy to be used all over the world. It’s a great boost for our company, for Wisconsin’s exports and for American business as a whole,” Mr. Buell said. Erik Buell Racing will do all design, testing and assembly work in East Troy and plans to focus a substantial portion of its spending on Wisconsin, Midwest and American vendors, although many highly specialized motorcycle parts will be sourced overseas. The company anticipates exporting more than half of its products within three or four years.

 

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