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March 28, 2015 3:14 PM ET

Auto Components

Company Overview of FOX Factory, Inc.

Company Overview

FOX Factory, Inc., doing business as Fox Racing Shox, designs and develops shock absorbers and racing suspension products in the united States and internationally. The company offers its products for snowmobiles, mountain bikes, motorcycles, ATVs, UTVs, off-road cars, trucks, and SUVs. It also designs and offers apparel, race gears, hats, parts, T-shirts, hoodies, and accessories for men, women, and kids through its online store. FOX Factory, Inc. was founded in 1974 and is based in Scotts Valley, California. FOX Factory, Inc. operates as a subsidiary of Fox Factory Holding Corp.

915 Disc Drive

Scotts Valley, CA 95066

United States

Founded in 1974

Phone:

831-274-6500

Fax:

831-768-9342

Key Executives for FOX Factory, Inc.

President
Age: 75
Chief Patent Counsel and General Counsel
Compensation as of Fiscal Year 2014.

FOX Factory, Inc. Key Developments

Fox Announces Earnings Results for the First Quarter of 2014

Fox announced earnings results for the first quarter of 2014. At the company, revenue increased year-over-year by approximately 2% and EBITDA declined 13%. The company's results will continue to be consolidated with the results of other subsidiaries until Compass Diversified Holdings's ownership percentages drop below controlling interests.

Fox Factory Amends and Restates its Existing Revolving Credit Facility Agreement

Fox Factory Holding Corp. amended and restated its existing credit agreement, which credit agreement was dated as of August 7, 2013 and was by and among the company and Fox Factory, Inc., as ‘Borrowers’, the lenders party thereto, and SunTrust Bank, as Administrative Agent (‘Agent’). The existing credit agreement established a $60,000,000 secured revolving credit facility in favor of the Borrowers. Such existing credit agreement was amended and restated to, among other things, add the company’s wholly owned subsidiary, Sport Truck USA Holding Corp. (the ‘Buyer’), as a borrower there under, extend the termination date of the revolving credit facility to March 31, 2019, and provide for a secured term loan in the principal amount of $50,000,000 and maturing, subject to quarterly amortization payments, on March 31, 2019 (the ‘Term Loan’). The proceeds of the Term Loan were used, in part, to fund the purchase of the assets of Sport Truck USA, Inc.

Fox Factory Receives CPSC Approval for Recall of Certain 2013 Evolution Mountain Bike Suspension Forks

Fox Factory recalls Evolution mountain bike suspension forks due to fall hazard. Consumers should stop using this product unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product. Recall Summary: Name of Product: Evolution 2013 Mountain Bike Suspension Forks; Hazard: The suspension fork's damper cylinder/piston can separate and cause the front wheel to detach, posing a fall hazard. Remedy: Repair. Recall Details: Units: About 11,250 in the U.S. and 1,250 in Canada Description: The recalled suspension forks are model year 2013, 32 and 34 Evolution Series with 120mm to 160mm of travel. The Evolution name and logo are on a sticker on the front fork with the FOX brand name logo. Recalled forks can be identified by the serial number, which is found on the underside of the crown after removing the front wheel. The forks were sold as original equipment on some of the following 2013 model year mountain bikes: BMC, Cannondale, Commencal, Diamondback, GT, Kona, Lapierre, Norco, Orbea, Raleigh, Rocky Mountain, Santa Cruz, Scott, Specialized and Trek. A small quantity of suspension forks were sold to retailers or distributors as aftermarket accessories. Incidents/Injuries: Fox received one report of an incident resulting in shoulder injuries in Italy. Remedy: Consumers should stop using the bicycles with recalled Fox Factory suspension forks and bring them to the place of purchase for a free repair. Consumers can check their serial number at www.ridefox.com/, see the link at the lower left of the page, or contact Fox for assistance with discerning whether their bicycle has the recalled product and for instructions on how to return the recalled product and receive the free repair if they cannot bring their bicycle or fork to the place of purchase.

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