Six Business Units, including Tucker Powersports and J&P Cycles,
to Become Stand-Alone Businesses
“We’ve asked each of our senior leaders to focus 100% of their efforts on creating value, delivering growth and expanding the entrepreneurial mindset within their business unit and their brands. When we do this, we will become more nimble, more aggressive and have a greater focus on the market and on our customers. We’d rather have a portfolio of successful companies with complete independence than force them to integrate, which turned out to be detrimental to several of our brands,” said Hugh Charvat, CEO of Motorsport Aftermarket Group.
“While our business units will continue to collaborate where helpful, there will be no corporate mandate to do so. And we’ll ensure complete independence between Tucker Powersports, J&P Cycles and our four other business units by making them stand-alone businesses. This demonstrates our commitment to supporting our dealer customers.”
“We now have great talent leading each of our business units, so the board and I feel that this is the time to unleash those individuals and all of our great employees to return our brands to the status they’ve enjoyed in the past without the operating restraints that have been in place as MAG.”
Known internally as “Unwinding the Vertical,” Charvat indicates that the change will be good for all the company’s stakeholders. “Aggressive companies led by great leaders will certainly have a positive impact on the powersports industry. Our goal is to lead in every product category where we compete.”
In the past several months, MAG has pursued and hired top industry talent to fill significant roles including powersports industry veterans Mike Kennedy, Greg Heichelbech, John Potts and Greg Blackwell.
About Motorsport Aftermarket Group
MAG is based in Coppell, Texas and includes six independent business units which manage 18 consumer brands. The company’s brands include Answer, BikeMaster, Burly, First Gear, Dragonfire Racing, J&P Cycles, Kuryakyn, Mustang Seats, Performance Machine, Progressive Suspension, ProTaper, QuadBoss, Roland Sands Design, Speed and Strength, Tucker, Tucker V-Twin, Twin Power and Vance & Hines. MAG business units employ 1500 people throughout the United States.
Source: Motorsport Aftermarket Group