Officially Official: Ridetech Is Now Part Of The FOX Team of Companies


Officially Official: Ridetech Is Now Part Of The FOX Team of Companies

When we broke the news that FOX was set to acquire Ridetech, there were many questions about the business, how it would shuffle the deck of employees and management, all the normal stuff. Well, the good news is that the company turned out a release yesterday that touched on a few of those subjects mentioned above.

In the span of any acquisition there’s going to be changes and adjustments. The ones that are the most successful are the ones that allow the acquired company to continue doing what they do, how they do it, and aiding them with more leverage and support from the organization that acquired them. Good news, that sure seems to be FOX’s plan at this point.

Read the story below for all the latest information on the Ridetech acquisition.

Here’s the news from RideTech regarding the process forward –

Ridetech Acquired by Fox

Ridetech Is Now Part of the FOX Team of Companies

For Immediate Release

May 8, 2019

JASPER, IND. —

Ridetech Is Now Part of the Fox Team of Companies

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.
About Ridetech  

Ridetech high performance suspension components and systems improve the handling and ride quality of muscle cars, trucks, hot rods and late model performance vehicles. Ridetech offers a wide range of premium products including air suspension systems (air ride), coilovers, shock absorbers, tubular control arms, coil and leaf springs, sway bars, roll bars and much more. Ridetech-equipped vehicles have won every prominent award in the aftermarket including Street Machine of the Year, Street Rod of the Year, Truck of the Year, the Ridler Award, America’s Most Beautiful Roadster, Goodguys Autocross and Hot Rod of the Year.

About Fox Factory Holding Corp.  (NASDAQ: FOXF)

Fox Factory Holding Corp. designs and manufactures performance-defining products for on-road and off-road vehicles and trucks, side-by-side vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles and bicycles. The Company is a direct supplier to leading power vehicle original equipment manufacturers (“OEMs”). Additionally, the Company supplies top bicycle OEMs and their contract manufacturers and provides aftermarket products to retailers and distributors.

FOX is a registered trademark of Fox Factory, Inc. NASDAQ Global Select Market is a registered trademark of The NASDAQ OMX Group, Inc. All rights reserved.


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3 thoughts on “Officially Official: Ridetech Is Now Part Of The FOX Team of Companies

  1. Singapore Hot Rod

    I know a girl from back home who got a Fox symbol tramp-stamp tattoo about 15 years ago. I wonder if she regrets that? Or maybe she’ll add some Ridetech ink to her existing masterpiece…

    Reply
  2. bob

    When the first article appeared I wrote that being swallowed by a large conglomerate is NOT always a good thing. I was part of a company that was purchased by a large company for 54 large, that’s with six zeros, and everything changed. The bottom line is when a company spend big bucks for another company they expect to get that money back. The first thing, the very first thing, is they WILL that a large withdrawal every month, that’s why they bought the company. Everyone will make nice for the cameras, the squeeze will be taking place, that’s what they do. In a year or so they will settle into a new norm, after employee changes take place, and with a little luck it won’t be absorbed into another one of their companies or like in my case go under completley. And life goes on.

    Reply

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