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Fox Acquires Ridetech

In a move to expand its powered vehicles business, Fox Factory Holding Corp. has acquired substantially all assets of Air Ride Technologies, which does business as Ridetech, a manufacturer of suspension systems to enhance the handling and ride quality of muscle cars, trucks, sports cars and hot rods.

Fox acquired the assets of Ridetech for roughly $14 million. The transaction was financed through a combination of cash on hand and newly issued unregistered shares of common stock.

For 2019, Fox expects Ridetech to contribute sales of $6 million to $8 million after the elimination of inter-company sales.

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