Brembo

Brembo announces acquisition of Öhlins Suspension

Leading Sweden based powersports industry suspension specialist Öhlins has been acquired by Brembo in a first major strategic buy into an 'adjacent' business sector for the Bergamo, Italy based global brakes products manufacturer and brand owner.

The deal is primarily being touted by Brembo as an automotive market play, with the October 11 announcement saying that with this acquisition "Brembo expands its offerings for the automotive market".

Brembo stated that "this deal marks the largest acquisition in Brembo's history and further strengthens the Group's brand portfolio. Öhlins has a strong racing heritage and presence in major championships as a renowned supplier for MotoGP, Formula 1, Superbike, NASCAR and others".

The deal (for a 100% stake in Öhlins Racing) was with U.S. conglomerate Tenneco, which only acquired Öhlins in late 2018 from founder Kenth Öhlin some months after Tenneco's $5.4bn acquisition of Ferodo brake pads owner Federal Mogul earlier that year. Tenneco folded Öhlins into 'Driv' - a then newly formed division with Ferodo and other brands.

In turn, Tenneco (described as a "portfolio company of funds") is managed by "affiliates" of New York based 'alternate' asset manager Apollo Global Management, Inc. Tenneco is also the owner of Monroe Shocks and former owner of Italian suspension manufacturer Marzocchi.

Matteo Tiraboschi, Brembo Executive Chairman, said: "Öhlins is a strong fit for Brembo. It is a world-renowned brand, with a solid business and an unrivalled reputation - both on the racetrack and the road. 

"We welcome Öhlins to our Group as a great opportunity to expand our offerings for the automotive market. With this addition, we take another step forward in our strategy to provide integrated intelligent solutions to our customers, leveraging synergies across key technologies in the vehicle's corner."

Founded by Kenth Öhlin in Upplands Väsby (Stockholm) in 1976, Öhlins Racing has a strong international footprint. It employs approximately 500 people across two production facilities and R&D centres located in Sweden and Thailand and four distribution and testing branches in the U.S., Germany, Thailand and Sweden.

In 1986, Kenth sold a majority stake in Öhlins to Yamaha, taking back 95% ownership from them in 2007. 

Öhlins Racing is projected to close 2024 with a turnover in the range of $144m, with an expected adjusted EBITDA margin between 21% and 22%. Brembo's purchase price is put at $405m on a cash free/debt free basis. The deal is subject to the customary regulatory approvals and is expected to close in early 2025.

The sale comes at a time when Tenneco is seeking to "streamline our business portfolio and strengthen our balance sheet" as it continues to "execute on our long-term vision".

Öhlins Racing CEO Tom Wittenschlaeger is quoted as saying: "As we join forces with Brembo, we are excited to unlock new growth opportunities and leverage our respective strengths and assets to drive innovation and deliver even greater value to our customers and employees. 

"Öhlins Racing is committed to developing the next generation of mechatronic suspension technology for both road and track. This innovation-driven approach will reinforce Brembo's mission to be a solution provider for future mobility."

The acquisition continues Brembo's investment in the motorcycle and motor racing area. In 2021, the Group acquired SBS Friction in Denmark and J.Juan in Spain. In February of this year, Brembo announced its entry into Thailand, and also controls lightweight alloy wheel specialist Marchesini. 

Founded in 1961 in Italy, Brembo cites over 600 motorsport championship title wins in its history, presently employing 16,000 people across 15 countries, 32 production and business sites and nine R&D centres.

The company's turnover was € 3,849m in 2023. The two-wheeler business is said to be worth approximately 13% of total Brembo revenues. 

www.brembo.com

www.ohlins.com

Energica

Bankrupt Italian electric motorcycle manufacturer Energica facing liquidation 

Italian electric sports motorcycle manufacturer Energica Motor Company SpA has announced that it has entered a bankruptcy judicial liquidation process.

The 'Bologna Motor Valley' based business was officially founded in 2014 by CRP Group, as Energica Motor Company Srl, based on a design phase that began in 2009. The company had established itself as one of the world's leading electric motorcycle pioneers, specialising in sport and performance bikes - very much a 'top-end' and highly innovative electric mobility manufacturer.

Shane McMahon, Ideanomics' Executive Chairman, seen here with Energica CEO Livia Cevolini in 2021, when Ideanomics increased its minority ownership stake from 20% to a majority 70%, then eventually 75% position. Though still listed as Executive Chairman, McMahon was not among the existing and former senior Ideanomics executives censured and fined by the SEC in August this year.

Its technical know-how has long been considered the company’s main asset, with Energica "introducing four technological platforms to the market and serving as the unique manufacturer of the fourth MotoGP electric category - the FIM Enel MotoE World Cup - for four consecutive years.

"Despite the challenges posed by the global pandemic, Energica achieved record sales volumes and revenues with the launch of the Experia model. Energica's entrepreneurial vision has been supported and financed from the outset by its founding partners, who in 2016 decided to list the company in the AIM Italia sector (now known as the Milan based Euronext Growth stock market)." 

Unable to sustain the capital demands alone, the listing in a market that is dedicated to "innovative Italian small and medium sized enterprises", the listing secured the necessary capital for growth that it needed at that stage.  The company was listed with a capitalisation of € 37.3m.

In 2021, with the investment from New York Stock Exchange listed Ideanomics Inc., Energica launched the Experia model, achieving record sales volumes and revenues of € 13m, a 200% increase compared to 2021.

"In March 2022, Ideanomics successfully completed a voluntary takeover bid, which allowed the shareholders to transform the company into a private entity, making it more free and flexible in managing financing and agile in its growth".

Ideanomics took a 75% controlling interest in Energica, with the balance of the shares retained by the existing investors and management.

"However, the subsequent crisis in the electric market and the decline in sector investments impacted Ideanomics, and, consequently, compromised Energica's investment capabilities. The company has also faced challenges from the downturn in the automotive market and supply chain, being particularly affected as a small and medium-sized enterprise". 

Having recently avoided eviction from its premises and with talk of strike action circulating, Energica states that its "commitment to its objectives and mission has remained steadfast, as demonstrated by initiatives like the recent solidarity contract [with the Italian Government's Social Security Institute] aimed at safeguarding workers jobs and salaries and overcoming the difficult period. 

"Despite the efforts of the management to actively and extensively pursue a search for new investors, it had become clear that alternative options were not viable, thus leaving the company with no other choice than to open a bankruptcy process - one that will allow repayment of creditors to the greatest extent possible from the proceeds of liquidation".

The October 14 press release announcing the start of the bankruptcy proceedings was drawn up and released by the management and minority shareholders in Italy. They concluded the news release by noting that "Ideanomics has chosen not to comment".

No surprise. The Ideanomics NYSE listing had already been suspended in August, with the value of its shares having been effectively devalued to 'junk' status. The SEC issued former and current company officers and senior executives with fines and penalties totalling several million Dollars, with rumours of possible potential criminal fraud proceedings swirling.

Itself founded in 1970, the highly respected CRP Group is an Italian industrial group specialising in additive manufacturing, Rapid Prototyping and high-precision machining services in the motorsport, automotive, aerospace, marine, design, medical and UAV sectors.

CRP launched the first Energica model, the Ego sportbike in 2013, followed by the Eva hypernaked the following year. That was followed by the retro naked EsseEsse9 in 2017. All three were based on the same powertrain with a 13.4 kWh battery and 150 km range. Battery sizes eventually included 21.5 kWh units. Production started in 2016 following the AIM Italia stock exchange listing. Energica partnered with Dorna Sports for the launch of the FIM Enel MotoE World Cup in 2017. 

After it had been announced that Ducati would replace Energica as manufacturer of the 'Spec' bike for the series, Energica launched Experia, its 21.5 kWh battery powered EMCE engine platform 'Green Tourer' ADV in 2022. That year also saw the company launch its 'Energica Inside' OE supplier business unit and achieve record sales volumes and revenues of € 13m.

www.energicamotor.com

Kellermann

Kellermann relaunch

Kellermann, the internationally recognised Aachen, Germany based manufacturer of innovative, high-quality motorcycle lighting products, has repositioned itself following the successful completion of its reorganisation. A new investor has stepped in and will continue the business as Kellermann Lighting GmbH & Co. KG. "This secures the business and creates a solid basis for continuity and economic success.

"We are relieved and proud that we have been able to secure the future of our company and the jobs of our employees. This has only been possible thanks to the close co-operation of everyone involved. We would like to thank our team, our customers and our business partners for their patience and trust during this challenging time," said Marion Wölki, Head of Marketing and Sales. 

The relaunch is accompanied by a modernisation and focus on Kellermann's proven strengths. "The company's extensive and unrivalled engineering expertise will in future form the basis for a passionate manufacturer of high-quality motorbike lighting. At the same time, Kellermann's proven set of values will continue to point the way.

"More than ever, Kellermann will listen to the wishes of its customers and offer products with which motorcyclists can specifically refine their bikes.

"The aim is to recognise trends more quickly, shape them into unique products with the legendary Kellermann touch and bring them to market. Aachen will remain the location of the manufacturing headquarters in the future and will continue to produce high-quality motorbike headlights with passionate employees."

The MIC

USA Q2 motorcycle sales -6.2%

The MIC has reported that among leading brands that contribute data, sales of new motorcycles and scooters decreased 6.2% through the second quarter of 2024, compared to the same period the previous year. ATVs decreased 4.6% among leading brands.

"Despite a general downturn in most categories, there are notable exceptions that provide reasons for optimism," said Buckner Nesheim, Director MIC Research and Statistics. "Year-to-date sales for sport bikes have surged by nearly 20% over 2023, while touring bikes have seen a significant increase of 7%. The sport bike segment is especially promising, as it attracts the youngest demographic of riders, potentially suggesting a strong future market."

Motorcycles and scooters accounted for 77.5% of total new-unit sales through Q2, and ATVs represented 22.5%. Sales of On-Highway models were 'essentially flat' during the quarter at 172,209 units (-0.5%). Scooters were -13.7% on low volumes (9,031 units nationally). ADV sales (aka 'Dual Sport' models) were down by -4.4% at 43,083 units for the quarter. 

Off-Highway models were down by -17.7% over the year-ago quarter at 71,2745 units.

News Briefs

Kawasaki reports developed market motorcycle sales up by 2,000 units for 2024 Q2 at 53,000 against an annual forecast of 260,000. European sales were up by 3,000 at 21,000 units. Emerging market sales were up by 17,000 units at 63,000, with total global sales of 116,000 units and forecast at 520,000 for the full year (plus an additional 140,000 four-wheelers and PWC 11,000 sold in Q2, down by nearly 50% at 10,000 units).

MotoGP is to make a return to the storied Automotodrom, Brno. The Czech city first staged the Czech Grand Prix on a street circuit in the area and has hosted more than 50 Grands Prix since 1965. The Automotodrom Brno debuted on the calendar in 1987 and staged a MotoGP every year until 2020, barring a one-year break in 1992. Brno is back on the calendar from 2025 until at least 2029 inclusive.

Despite the apparent slowing of consumer, corporate and governmental enthusiasm for electrification of the global transport fleet, in a May business briefing on Direction of Electrification Initiatives and Investment Strategy, Honda reiterated its commitment to the cause. Restating its belief that EVs "are the most effective solution in the area of small mobility products such as motorcycles and automobiles", Honda remains committed to its "target to make EVs and FCEVs represent 100% of its global vehicle sales by 2040. Honda must look ahead to the period of EV popularisation and build a strong EV brand and a strong EV business foundation from a medium- to long-term perspective".

Having restated its commitment to make EVs and FCEVs represent 100% of its global vehicle sales by 2040, June this year saw Honda roll its first Fuel Cell Electric Vehicle off the production line at its Marysville, Ohio Performance Manufacturing Center. The all-new 2025 CR-V e:FCEV fuel cell electric vehicle is the first and so far only FCEV made in America, as well as being the first production hydrogen FCEV in the United States to combine an all-new U.S.-made fuel cell system with plug-in EV charging capability.

Honda Racing Corporation (HRC) and MotoGP class, Repsol Honda Team rider Joan Mir (Spain, 26 years old) have agreed to extend their contract for two more years, beginning in 2025.

Honda announced global Group unit sales up by +13.2% at 5.062 million motorcycles for Q1 of its 2024/2025 financial year (the period to June 30, 2024) - up by 580,000 units (+13.2%) over the same quarter of 2023. Sales in Europe were 138,000 units (+14%/19,000 units); 132,000 units in North America (+12,000); down by -8,000 in Japan at 50,000 units sold; 2,663 million units sold in Asia in total (+485,000), with 467,000 units sold (+72,000) in other regions (318,000 of those were in Brazil, up by +117,500). Honda's largest market in Asia is India with 1.414 million units sold in Q1, followed by Indonesia with 1.122 million units sold, then Vietnam and Thailand. Honda's global motorcycle business operations achieved a record high operating profit of 177.6bn yen for the quarter. Group motorcycle volume sales guidance remains unchanged for the year ending March 31, 2025, at 19.8 million units worldwide, 475,000 in Europe.

The 2023 INRIX Global Traffic Scorecard reports London as the most congested city in Europe, with traffic gridlock costing the UK economy approx. € 9bn a year. The average driver in the UK lost 61 hours a year due to traffic congestion, a four-hour increase compared to 2022. The top 5 most congested cities in the world are New York City, Mexico City, London, Paris and Chicago. The report identified and ranked congestion in nearly 950 cities, across 37 countries.

Rauschenberg, Germany based luggage and accessory manufacturer SW-MOTECH has marked 15 years of Open House and 25 years of SW-MOTECH with some 38,000 visitors at the company headquarters in June. This year saw a wide range of vendors set up at the SW Open House, including Continental, HJC, Heidenau, Shoei, Arai, John Doe, Kurven & Knödel, Held, Macna, Nolan, Shark, Öhlins, Rukka, Schuberth, Stadler, Wilbers, Klim, Michelin, Nexx and Yuasa.

Dell'Orto S.p.A has become an official partner of the annual FIM awards for the next three years. A celebration of the world champions from all motorcycle disciplines that compete under the FIM banner is scheduled for 7th December, 2024, in Palma de Mallorca (Spain). Dell'Orto is the sole supplier of the electronic control unit in the Moto3 category and partner (of the championship) for the data acquisition system in the MotoE category.

Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news, RideApart.com, Motor1.com, Cycle World, motorbikewriter.com

Oxford Products

Advanced 'Oximiser Pro' battery management system

Oxford Products has been designing 'Oximiser' battery managers for more than 20 years and focused on their 'user-centric' design priorities, it says that its advanced new 'Oximiser Pro' range has been "engineered to take 'intelligent' battery optimisers to another level".

Engineered for multiple battery types, they have been designed with built-in ergonomics such as the removable hanger, waterproof body, rubber feet, multiple mounting points, waterproof cable exit with cable strain relief and back-lit display.

An intelligent eight-stage automatic programme helps to extend the life of the battery by ensuring that the battery is correctly and safely charged to the optimum voltage, before switching into maintain-mode.

They feature multiple inbuilt safety systems and multistage automatic charging. The intelligent eight-stage automatic programme helps to extend the life of the battery by ensuring that the battery is correctly and safely charged to the optimum voltage before switching into maintain-mode.

The eight-stage cycle starts with a battery polarity test before analysing the battery condition, desulfation, soft start mode, bulk mode, absorption mode, running a voltage check and switching into maintain-mode.

The 'Oximiser Pro' range of four advanced battery managers is the product of three years of R&D at Oxford Products' UK global HQ.

There are four models in the 'Oximiser Pro' line-up, from the 0.8A/6/12V entry level Pro 900/EL201 (the only one without the desulfation feature) up to the 5.0A/12V Pro 5000/EL204. All except the 900/EL201 can charge lithium batteries. The 900/EL201 and the 1250/EL202 can charge either 6V or 12V batteries, while the larger models (2000/ELO203 and 5000/EL204) are too powerful for 6V and so are suitable for 12V batteries only. 

'Oximiser Pro' battery managers have been engineered for multiple battery types.

A range of compatible accessories is offered, including a 12V battery monitor/SAE connector with an easy-to-read traffic light LED interface, and 2-into-1 design 'Croc-O-Ring' combination crocodile/ring lead SAE connector, where each ring lead is securely clipped into a crocodile clip, saving the need for two separate wiring harnesses.

OXFORD PRODUCTS

www.oxfordproducts.com

K-Tech Suspension

K-Tech suspension components

In addition to replacement Mono and Twin shock absorbers and front fork cartridges, British suspension manufacturer K-Tech offers a wide range of suspension, service and upgrade components.

Seen here is a new WP 46 mm shock absorber body with genuine Kashima coating for reduced friction, smoother suspension action and improved wear resistance. 

Suspension service kits

K-Tech also offers front fork and shock absorber service kits offering a comprehensive solution for maintaining or restoring the performance of a vehicle's suspension system. These kits include all the necessary components for a complete overhaul, making the process simpler and more efficient for both professionals and DIY enthusiasts. 

K-Tech's fully comprehensive kits are designed to ensure all components are either the same or compatible with the original equipment parts, reducing the risk of fitment issues and extending the working and service life of the product.

Kashima-coated replacement shock absorber body

K-Tech's premium replacement front fork and shock absorber springs are available for a wide range of Road and Off-road fitments with optional rates for all disciplines. They are manufactured from high-grade chrome silicone wire for durability and performance, meeting DIN 2095 grade 1 standards. Each spring, undergoes a meticulous manufacturing process.

Cold coiling is followed by precise heat-treatment, pre-setting and exact grinding to length. To ensure long-lasting protection, shock absorber springs have a corrosion-resistant phosphate coating applied, followed by a robust powder-coating finish.

Replacement shock and front fork springs

Fork springs are cold wound, pre-set after heat treatment, then precision-ground to length and polished to a flawless finish. Each spring's rate is laser-etched for easy identification.

K-TECH SUSPENSION

www.ktechsuspension.com