William Blair & Company Advises AIH Acquisition on Purchase of American IronHorse Motorcycle Company
William Blair & Company announces that its client, AIH Acquisition, has closed on its acquisition of American IronHorse Motorcycle Company. William Blair & Company served as financial advisor to AIH Acquisition for the transaction. AIH is an affiliate of Rocky Mountain Choppers and Blackwater Choppers, dealers of high-end motorcycle brands in Montana and Minnesota.
Scott Meyers, president and chief executive officer of AIH Acquisition, stated in a recent press release, "Today marks an exciting new beginning for American IronHorse; we will build on the company's achievements to make a superior brand even greater."
Founded in 1995, American IronHorse designs and manufactures customized motorcycles, including cruisers and choppers. American IronHorse motorcycles are highly sought after by motorcycle enthusiasts and are priced at a significant premium to mass-marketed brands due to the scope of customization and their high level of performance. American IronHorse sells its motorcycles through a network of approximately 50 dealers across the United States.
After its revenue peaked at $100 million, American IronHorse experienced a decline in sales due to several factors, including an oversupply of inventory and tightening retail credit standards. On March 25, 2008, American IronHorse filed for Chapter 11 protection in the United States Bankruptcy Court for the Northern District of Texas.
In March 2008, AIH engaged William Blair & Company to assist with the acquisition of American IronHorse through §363 of the Bankruptcy Code. Within 60 days of its engagement, William Blair & Company secured stalking horse bidder status for AIH; negotiated the asset purchase agreement, new credit agreement, and multiple third-party contracts; and successfully closed the transaction shortly after Bankruptcy Court approval of the transaction.
Scott Meyers, president and chief executive officer of AIH Acquisition, stated in a recent press release, "Today marks an exciting new beginning for American IronHorse; we will build on the company's achievements to make a superior brand even greater."
Founded in 1995, American IronHorse designs and manufactures customized motorcycles, including cruisers and choppers. American IronHorse motorcycles are highly sought after by motorcycle enthusiasts and are priced at a significant premium to mass-marketed brands due to the scope of customization and their high level of performance. American IronHorse sells its motorcycles through a network of approximately 50 dealers across the United States.
After its revenue peaked at $100 million, American IronHorse experienced a decline in sales due to several factors, including an oversupply of inventory and tightening retail credit standards. On March 25, 2008, American IronHorse filed for Chapter 11 protection in the United States Bankruptcy Court for the Northern District of Texas.
In March 2008, AIH engaged William Blair & Company to assist with the acquisition of American IronHorse through §363 of the Bankruptcy Code. Within 60 days of its engagement, William Blair & Company secured stalking horse bidder status for AIH; negotiated the asset purchase agreement, new credit agreement, and multiple third-party contracts; and successfully closed the transaction shortly after Bankruptcy Court approval of the transaction.
