Ridetech Is Now Part of the FOX Team of Companies

[Larry Callahan]

Ridetech is very proud to announce that it is now part of Fox Factory Holdings. Ridetech will serve as cornerstone for the new Fox Street and Performance division. Founded in 1996 by Bret and Sharon Voelkel as Air Ride Technologies, the company transitioned to the Ridetech brand name in 2010 to reflect expansion into coilover suspension systems. Innovation and technological development have always served as the driving force at Ridetech. Those areas will be expanded under Fox's ownership.

Ridetech founder Bret Voelkel commented, “I could not be more excited for the entire Ridetech family! The compatibilities between Fox and Ridetech make this acquisition a perfect match. Fox shares our vision for innovation, technology and market leadership. I’m personally very excited about my new role as Director of Innovation for the Fox Powered Vehicles Group. We have some great new products coming for our customers!”

Moving forward, longtime Ridetech/Air Ride Technologies Executive Vice President & General Manager, B.J. Elmore has been named to lead the company in this endeavor. Elmore had this to say about the transition, “I’m very excited about the opportunities, resources and brand equity afforded by our partnership with the Fox organization. We’ve worked very hard over the last several years to build a team of professionals that are hugely passionate about the automotive industry and its culture. With Fox’s added horsepower, Ridetech will set new standards for quality, performance and customer satisfaction in the automotive aftermarket. It’s truly my honor to continue to lead our team into the future.”

Industry veteran Jim Cozzie also remains with Ridetech's leadership as Director of Business Development. “I am very excited about the teaming of these two, great industry-leading companies. Ridetech's management is passionate, forward thinking and will bring an expanded approach to the automotive aftermarket”, stated Cozzie.

The company will continue to grow under the powerful Ridetech brand. Products will continue to be designed, tested and manufactured in Ridetech's Jasper, Indiana factory.

https://i.hmjimg.com/images/2019/05/08/camaro-fox.jpg (https://www.hostmyjunk.com/image/ucRKN)

[stab6902]

Sounds like a good arrangement for everyone. Hopefully the new synergies and economies of scale will help bring down prices for the end consumer.

[Steve Chryssos]

So far.. so good. It's business as usual -- which is how Fox operates. They buy successful companies and take them to the next level. Fox has been one of Ridetech's main vendors for years, so the chemistry is built-in. Anyone who runs our shocks already knows.. The strong Ridetech brand is intact, as is the entire team. I'm excited to learn FOX as well as apply their resources and backing.
Steve

[jlcustomz]

All sounds like a good thing. First air ride stuff I looked into was bags, mounts, & looked like same p.o.s. Monroe shocks or something you buy from auto parts store yourself.
Seeing the fox name branded to the shocks & shockwaves several years ago definitely made products look next level.
Think it would be hard to find a professional dirt bike or off road truck racer that doesn't know who fox is.

[D-Man]

Seems like every really good small company gets gobbled up sooner or later into a faceless mega company.

[TheJDMan]

My opinion of holding companies is not positive. I have seen far too many instances where a holding company comes in and buys up a viable target company and then runs it into bankruptcy. Remington is a good example.

[David Pozzi]

Fox started from racing and is a committed performance company with a great track record. Any company can suffer from bad leadership but Fox is doing very well.

[D-Man]

My opinion of holding companies is not positive. I have seen far too many instances where a holding company comes in and buys up a viable target company and then runs it into bankruptcy. Remington is a good example.

Yes, investors will now drive business decisions. First thing they will do is nix any completing products between lines. Next step will be to transfer product production where ever possible to offshore. Fox already has the factories in Taiwan.

[Motoracer838]

Fox started from racing and is a committed performance company with a great track record. Any company can suffer from bad leadership but Fox is doing very well.

Yes, Fox started out as Motoxfox back in the 70's and has had amazing growth with exceptional products, I ran their shocks racing MotoCross back in the day. I'm not surprised that they have risen to where they are.

Joe

[MonzaRacer]

All sounds like a good thing. First air ride stuff I looked into was bags, mounts, & looked like same p.o.s. Monroe shocks or something you buy from auto parts store yourself.
Seeing the fox name branded to the shocks & shockwaves several years ago definitely made products look next level.
Think it would be hard to find a professional dirt bike or off road truck racer that doesn't know who fox is.

Actually according to Brett when I got my air ride for my 78 C10(actually made a 99% bolt on rear setup 3 yrs before Ridetech made it even better) the monroe made shocks were valved per Air Ride Technologies/Ridetech specs.
Why spend more to make them look special and fancy, they made them functional.

[bret]

After a few days of “decompression” from the intensity of a year long plus acquisition process, I think I can put together some thoughts.

About 3 years ago Sharon and I decided we had taken Ridetech about as far as we knew how, or even wanted to. We were profitable and still having fun, but after surviving 2 significant economic downturns, we knew it might be time to look for a big brother. Private Equity type goups were not considered because of the situations some of you have referred to above. We needed a group that mirrored Ridetech, only with a larger resource pool. Fox wa the first and most obvious choice. They are a racing company filled with hotrodders right to the top. Incoming CEO Mike Dennison just debuted a 51 Hudson that won several awards this spring at the West Coast Goodguys shows.
http://www.kennysrodshop.com/projects/current_projects/mike_dennison_-__51_hudson_wasp/

When Fox participates in a market, they dominate it, by a lot. The Bicycle, Powersports, and Offroad divisions have demonstrated this for years. They do that by developing and manufacturing innovative and durable products. The new Fox Street and Performance Division now contains Ridetech as the anchor company. Thats the kind of train I want to be on, not under.
My new position is Director of Innovation for Fox Powered Vehicles Group. That includes not only Ridetech, but offroad and Powersports as well. That means I get to help develop all kinds of zoomy cool new products and technology...with no distractions from sales, production, marketing, HR, etc, etc, etc. I have won the lottery.
What does this mean for Ridetech customers and dealers? Nothing except an increasing amount of cool products and exceptional technology. The show and race schedule remains the same...Smitty, Andy, and I are still running the Motorsports program with Fox/Ridetech as the major sponsor. You shocks still have a 1,000,001 mile warranty. The sun still shines!

I rejected 2 significant buyout offers over the years, mostly because all they had to offer was money. For me, fun is more important than money. Fox has the whole package. If you think we’ve done some cool stuff the last 23 years...stand by!

[BonzoHansen]

Good luck Bret and the ride tech team!

[andrewb70]

Bret,

Best of luck to you and your family. I hope to catch up at some event this year (probably LS Fest) and enjoy some adult beverages!

Andrew

[WildCherry66]

After a few days of “decompression” from the intensity of a year long plus acquisition process, I think I can put together some thoughts.

About 3 years ago Sharon and I decided we had taken Ridetech about as far as we knew how, or even wanted to. We were profitable and still having fun, but after surviving 2 significant economic downturns, we knew it might be time to look for a big brother. Private Equity type goups were not considered because of the situations some of you have referred to above. We needed a group that mirrored Ridetech, only with a larger resource pool. Fox wa the first and most obvious choice. They are a racing company filled with hotrodders right to the top. Incoming CEO Mike Dennison just debuted a 51 Hudson that won several awards this spring at the West Coast Goodguys shows.
http://www.kennysrodshop.com/projects/current_projects/mike_dennison_-__51_hudson_wasp/

When Fox participates in a market, they dominate it, by a lot. The Bicycle, Powersports, and Offroad divisions have demonstrated this for years. They do that by developing and manufacturing innovative and durable products. The new Fox Street and Performance Division now contains Ridetech as the anchor company. Thats the kind of train I want to be on, not under.
My new position is Director of Innovation for Fox Powered Vehicles Group. That includes not only Ridetech, but offroad and Powersports as well. That means I get to help develop all kinds of zoomy cool new products and technology...with no distractions from sales, production, marketing, HR, etc, etc, etc. I have won the lottery.
What does this mean for Ridetech customers and dealers? Nothing except an increasing amount of cool products and exceptional technology. The show and race schedule remains the same...Smitty, Andy, and I are still running the Motorsports program with Fox/Ridetech as the major sponsor. You shocks still have a 1,000,001 mile warranty. The sun still shines!

I rejected 2 significant buyout offers over the years, mostly because all they had to offer was money. For me, fun is more important than money. Fox has the whole package. If you think we’ve done some cool stuff the last 23 years...stand by!

Looking forward to more great products for more makes and models! (Fox/Ridetech HQ shocks in a coilover kit for my 2011 MINI Cooper S would be amazing!) Love the products for the Chevelle but would be great to run them on the late model daily driver/track day car as well! Thanks for all you do for this gearhead community to keep it growing, Bret!

[TheJDMan]

I completely understand Bret and Sharon's motivation for selling Ridetech. At some point we all get burned out and just need to make a lifestyle change. Now the future of Ridetech is in someone else's hands and we can only hope they have the same focus going forward. Personally, I have never owned or used any FOX product so I have no direct experience with them. But after seeing this announcement and being somewhat familiar with Ridetech's product line and quality, I was curious about the stock so I did some research on FOX Factory Holding Corp. and I have since added it to my stock watch list. I anticipate the RideTech acquisition will boost the FOX stock price so I'm probably in the market now to buy FOX stock. In case anyone is interested, the stock ticker is FOXF.

[chuckd71]

Hopefully the new synergies and economies of scale will help bring down prices for the end consumer.

I predict zero chance this will happen, even after Fox sends production over to Taichung.
Selling out/up/whatever is totally understandable though, you can't just keep doing the same thing over and over. Onward and upward (and if things take a turn there are plenty of other brands). Life goes on.

[andrewb70]

Why is everyone convinced that Fox will all of a sudden go overseas?!

[badazz81z28]

Prices go down with pure competition. With mergers, oligopolies, monopolies...prices tend to go up. It doesn’t matter if the product can be produced cheaper, that just means more profit for the manufacturer. Fox really eliminated a competitor...that’s it. They now produce the product how they see fit. There’s no competing company selling the same product...I wouldn’t count on the transition being seemless consumer. Warranties...customer service will change.



I predict zero chance this will happen, even after Fox sends production over to Taichung.
Selling out/up/whatever is totally understandable though, you can't just keep doing the same thing over and over. Onward and upward (and if things take a turn there are plenty of other brands). Life goes on.

[chuckd71]

Why is everyone convinced that Fox will all of a sudden go overseas?!

What do you mean all of a sudden? They've been in Taiwan for years.

[andrewb70]

What do you mean all of a sudden? They've been in Taiwan for years.

Why is that necessarily a bad thing? We live in a global economy and we use foreign made parts daily.

[badazz81z28]

Yeah, quality is my concern, not where it’s made. The best OEM steering parts I have used on the Camaro where made in Taiwan.


Why is that necessarily a bad thing? We live in a global economy and we use foreign made parts daily.

[CampbellshotrodsAZ]

I don't think this will be a bad move at all. I know Fox is a huge name in the offroad world, so this partnership will work well for Ridetech and their fans, as it's all about being the best in their respective industries. I've definitely seen the influences of what happens when a leader in the automotive aftermarket is bought by a larger company that does not understand the market they're buying into, seeing that at the company I work at now unfortunately.

[NOT A TA]

I owned a bicycle store for 25 years and sold Fox products on new bikes as well as aftermarket replacement/upgrade parts. They were one of the best companies in the industry as far as warranties, customer service, tech support, etc. Congrats to Bret to have built a successful business, AND then being able to "cash out" so to speak.

[chuckd71]

Why is that necessarily a bad thing? We live in a global economy and we use foreign made parts daily.

Why would it be a good thing? I doubt the people who would be losing their jobs will find comfort in the notion that it's okay because the economy is global. Not that Ridetech has outsourced or is planning to, but it would be surprising if they didn't eventually. Doesn't affect me at all either way, but it affects somebody. That aside, at any given time I have several Fox products on my mountain bikes and have no issues with the quality.

[andrewb70]

Why would it be a good thing? I doubt the people who would be losing their jobs will find comfort in the notion that it's okay because the economy is global. Not that Ridetech has outsourced or is planning to, but it would be surprising if they didn't eventually. Doesn't affect me at all either way, but it affects somebody. That aside, at any given time I have several Fox products on my mountain bikes and have no issues with the quality.

You haven't paid enough attention in your MBA classes. ;-)

Andrew

[NCC-1701]

After a few days of “decompression” from the intensity of a year long plus acquisition process, I think I can put together some thoughts.

About 3 years ago Sharon and I decided we had taken Ridetech about as far as we knew how, or even wanted to. We were profitable and still having fun, but after surviving 2 significant economic downturns, we knew it might be time to look for a big brother. Private Equity type goups were not considered because of the situations some of you have referred to above. We needed a group that mirrored Ridetech, only with a larger resource pool. Fox wa the first and most obvious choice. They are a racing company filled with hotrodders right to the top. Incoming CEO Mike Dennison just debuted a 51 Hudson that won several awards this spring at the West Coast Goodguys shows.
http://www.kennysrodshop.com/projects/current_projects/mike_dennison_-__51_hudson_wasp/

When Fox participates in a market, they dominate it, by a lot. The Bicycle, Powersports, and Offroad divisions have demonstrated this for years. They do that by developing and manufacturing innovative and durable products. The new Fox Street and Performance Division now contains Ridetech as the anchor company. Thats the kind of train I want to be on, not under.
My new position is Director of Innovation for Fox Powered Vehicles Group. That includes not only Ridetech, but offroad and Powersports as well. That means I get to help develop all kinds of zoomy cool new products and technology...with no distractions from sales, production, marketing, HR, etc, etc, etc. I have won the lottery.
What does this mean for Ridetech customers and dealers? Nothing except an increasing amount of cool products and exceptional technology. The show and race schedule remains the same...Smitty, Andy, and I are still running the Motorsports program with Fox/Ridetech as the major sponsor. You shocks still have a 1,000,001 mile warranty. The sun still shines!

I rejected 2 significant buyout offers over the years, mostly because all they had to offer was money. For me, fun is more important than money. Fox has the whole package. If you think we’ve done some cool stuff the last 23 years...stand by!

Can't wait to see what happens when you bring these two quality engineering groups together! :firefire: