Livingstone’s Special Situations team has completed the successful recapitalisation of Genuine Scooters LLC and its parent Scooter Works USA, Inc. Funding was secured from Chicago Associates, Inc., a private investment company. Terms of the deal were not disclosed.
Genuine Scooters, headquartered in Chicago, IL, is a nationally renowned recreational scooter company that has emerged as the American scooter company with its flagship brands Buddy and Stella, and its reputation for quality and customer service. The Company also sells scooter parts and accessories, and operates a scooter dealership in Chicago, under the names Scooterworks USA and Scooterworks Chicago, respectively.
“Genuine Scooters is a great company with an extremely bright future” said Joe Greenwood, Director at Livingstone Chicago. “Despite the challenging market conditions of the past several years, the Genuine management team has done a tremendous job positioning the Company at the forefront of the American scooter market.”
The Genuine closing represents another successful transaction for Livingstone’s Special Situations practice representing branded consumer product companies with unique capital needs. In the last year, the team has also advised Fundex Games, Ltd. and Swisher Mower & Machine Company, Inc.