Bad news for some off road companies. Bankrupt Hoonigan.

[Rusty PW]

Read this on another car forum. It effects a lot of aftermarket companies.

https://www.theautopian.com/private...1-75-billion-in-debt-heres-what-happens-next/

Some history on Private Equity.

https://www.ineteconomics.org/persp...ng-america-this-prosecutor-says-we-can-fix-it

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[GeneralMaximus]

The same Hoonigan that was co-founded by Ken Block, who died last year? $1.75 Billion in debt? yikes

 

[Rusty PW]

Here's the companies under that umbrella.

American Force, American Racing, Asanti, Black Rhino, DUB, EFX, Fairway Alloys (you know, for golf carts), Foose, Fuel Off-Road, Gorilla, Helo, Kinesis, KMC Wheels, Motegi, Moto Metal, MSA Offroad Wheels, Niche, Performance Replicas, Petrol, Poison Spyder, Pro Comp, Rotiform, Smittybilt, Status, TSW, U.S. Mags, XD Wheels, Headlight Revolution, Morimoto, The Retrofit Source, G2 Axle and Gear, Logiq Air Suspension Solutions, Readylift, Rubicon, Teraflex, Zbroz, 4 Wheel Parts.

 

[Jaxmax]

It’s happening everywhere , electric generating companies have been bought from utilities after deregulation and assets are being spun off. A large generator in Pa . Just sold off the Data center next to a nuke plant to Amazon for huge profit to the firm, but then sold almost 700 Megawatt of that nuke plants power to Amazon for a fixed ten year term, that’s huge. I’m the electrical manager of a very large construction company with over ninety companies in four states , with all our quarries, various plants and factories we use about 32 Megawatts, across seven utilities I buy all the electric for the company, auction price for electric futures hit recently , we are expecting a big hit. What’s Amazon going to do with all the MW, perhaps sell electricity, maybe EV charging stations perfect just perfect!
Well at least one of our contracting divisions did the site work for the data center…..Jack

 

[arosen1997]

I wonder if this has anything to do with 4WP divesting 25% of there physical stores recently?

 

[Jaxmax]

Rusty looks like 4 Wheel parts and Poison Spyder are being picked up by ARB America.

 

[CrazyCooter]

That whole TransAmerican/4WP buyout was a real pain in my arse! I had a bunch of Fox product on back order queue for months and it was canceled.......Clients had to just wait longer?

Then Wheel Pros does me a favor in creating a new wholesale account with a new sales contact who isn't available all with full retail pricing? Never even pursued it....Goodbye! Wouldn't bother me if they were ended, but really.....what does bankruptcy mean anymore? Bankruptcy seems like it's part of a successful business plan!

This activity seems to just be ruining America from my point of view!

 

[Camaroboi13]

I can’t help but wonder why epic outdoors is posting metalcloak gear over teraflex as of late

 

[Rusty PW]

It’s happening everywhere , electric generating companies have been bought from utilities after deregulation and assets are being spun off. A large generator in Pa . Just sold off the Data center next to a nuke plant to Amazon for huge profit to the firm, but then sold almost 700 Megawatt of that nuke plants power to Amazon for a fixed ten year term, that’s huge. I’m the electrical manager of a very large construction company with over ninety companies in four states , with all our quarries, various plants and factories we use about 32 Megawatts, across seven utilities I buy all the electric for the company, auction price for electric futures hit recently , we are expecting a big hit. What’s Amazon going to do with all the MW, perhaps sell electricity, perfect!
Well at least one of our contracting divisions did the site work for the data center…..Jack

I worked for Duke Energy for 15 yrs as a senior control operator at a 700 Mw natural gas power plant in south west Pa. Part of my duties was suppling the data to the gas traders to buy from $30m to $40m of natural gas every day. Other duties was in contact with PJM grid operations.
Duke sold our plant and 10 other plants along the Ohio river to Dynegy in 2015. Dynegy had just come out of bankruptcy 2 year earlier. They went from 1,800 employee's to 4,500 employee's over night. That was a nightmare. I retired in 2016 because of the bullshit that was going on. They did a leverage buy of us. Sold junk bonds to cover the buy. Vistra Energy Corp bought Dynegy in 2018. Dynegy was in trouble again at that time.
I know of a lot of small natural gas plants being sold and bought a number of times. I have a couple of friends at one plant that has been sold 5 times since the 1990's.

 

[aFatBird]

I can’t help but wonder why epic outdoors is posting metalcloak gear over teraflex as of late

I have no complaints with a Canadian company supporting a great made in USA company. Although teraflex has a few really nice kits for smaller things.

 

[RobbertCole]

its the way it goes with private equity.

buy it up, squeeze it for what its worth, make shit cheap, sell it off.

 

[PuddleJumper]

It’s happening everywhere , electric generating companies have been bought from utilities after deregulation and assets are being spun off. A large generator in Pa . Just sold off the Data center next to a nuke plant to Amazon for huge profit to the firm, but then sold almost 700 Megawatt of that nuke plants power to Amazon for a fixed ten year term, that’s huge. I’m the electrical manager of a very large construction company with over ninety companies in four states , with all our quarries, various plants and factories we use about 32 Megawatts, across seven utilities I buy all the electric for the company, auction price for electric futures hit recently , we are expecting a big hit. What’s Amazon going to do with all the MW, perhaps sell electricity, maybe EV charging stations perfect just perfect!
Well at least one of our contracting divisions did the site work for the data center…..Jack

One standard Data center consumes about 36 MW. A Hyperscaler even more and its all growing very fast. Most data center companies are expanding 1.2-3 GW a year. That 700MW could easily be consumed by Hyperscaler Data only in 5 years.

 

[cranbiz]

Wheel Pros overpaid for Trans American. Not as much as Polaris did but still overpaid for what they actually got.

They screwed me when they closed all the 4WP stores that were local and therefore invalidated the warranties I have on my axles (which I need to use for my rear locker in the JK).

 

[exsploroverland]

This will have a definite ripple affect!

 

[m1n0t4rr]

The same Hoonigan that was co-founded by Ken Block, who died last year? $1.75 Billion in debt? yikes

wonder how much of this is to get the family off of the business....

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