Livingstone sells utility vehicle manufacturer
Livingstone’s Industrial sector team has successfully completed the sale of American SportWorks LLC to Ambassador Enterprises. Established in 1959, American SportWorks is a manufacturer and distributor of off-road utility vehicles (“UTVs”) and go-karts for a variety of big-box, mid-box, and independent retailers including Home Depot, Menards and Tractor Supply Company.
The Company is a market leader in producing affordable “lifestyle” UTVs and is a pioneer in the development of versatile consumer-friendly light utility vehicles. The business operates manufacturing facilities in Ft. Wayne, Indiana and Roseland, Louisiana. Ambassador Enterprises is a private investment firm located in Ft. Wayne, Indiana.
The firm seeks to take majority positions regionally proximate companies doing business across a variety of industries. “We are extremely pleased to have forged the relationship between American SportWorks and Ambassador,” said Joe Greenwood, Managing Director at Livingstone Chicago.
“This partnership will enable American SportWorks to continue its market expansion and maintain its leadership position in the UTV and go-kart market.” American SportWorks also represents Livingstone’s 7th Special Situations transaction completed in 2012.
Following successful transactions involving Swisher Mower, Genuine Scooter Company and Pinzgauer, this most recent sale continues Livingstone’s strong track record in the specialist vehicles and outdoor power equipment sectors.
Key Transaction Team