SEMA eNews Vol. 22, No. 19, May 9, 2019

Movers & Shakers: Fox Acquires RideTech; Wheelwell Closes $3 Million Financing

Compiled by SEMA Editors

Ridetech Acquired by Fox

Ridetech has announced that it is now part of Fox Factory Holdings. Ridetech will serve as cornerstone for the new Fox Street and Performance division. Moving forward, longtime Ridetech/Air Ride Technologies Executive Vice President and General Manager B.J. Elmore has been named to lead the company in this endeavor. Industry veteran Jim Cozzie also remains with Ridetech's leadership as director of business development. Products will continue to be designed, tested and manufactured in Ridetech’s Jasper, Indiana, factory.

Wheelwell Closes $3 Million Financing

Wheelwell Inc., a social commerce company for the automotive market, has closed $3 million in financing from several investors. This round was led by James Currier of NFX Capital and Hans Tung of GGV Capital. The current round of funding builds on previous angel investments from individuals that included Steve Yankovich (formerly vice president of product at eBay), John Couch (executive vice president of marketing at Apple), and Jeff Bonforte (senior vice president of communications products at Yahoo). As part of the transaction, Currier has joined Wheelwell’s board of directors. Based in San Francisco, Wheelwell combining artificial intelligence (AI), advanced data analytics and deep marketing integrations with Google and Facebook. To fuel expansion, Wheelwell has implemented an AI-controlled ETL database system that enables automatic and instantaneous updates of both new and existing products. Due to these new systems, Wheelwell has been able to double the number of manufacturing partners in 2019 and continue to add close to 100,000 new products every month.

  Dometic
Tiny Idahomes and Dometic have worked together to create the ”Dometic Tiny Home,” also known as the K2 model.
   

Dometic Partners With Tiny Idahomes to Create Tiny Living Experience

Dometic, an RV market supplier, will support the tiny living movement by incorporating its products into tiny homes. Tiny Idahomes and Dometic have worked together to create the ”Dometic Tiny Home,” also known as the K2 model, which includes products from Dometic inside the home and outside on the patio space. The inside has a Dometic range, an 8 cu.-ft. refrigerator, a 320 series porcelian toilet, washer/dryer combo and Dometic blinds system. The outside includes a Dometic 9500 awning, wine chiller, CFX-powered cooler, and portable lithium battery.

Covercraft Names Bashur CFO

Gregg Bashur has been named the new CFO at Covercraft Industries LLC. He joins Covercraft during a period of expansion that includes the marine and recreational vehicle markets as well as an enhanced presence in the automotive market. Prior to joining Covercraft, Bashur served in various CFO and finance leadership roles with privately held and public companies in manufacturing and distribution, including Honeywell, Thermo Fisher Scientific and Collins Aerospace. The newly appointed CFO will be based out of the corporate home office in Pauls Valley, Oklahoma.

Meyer Distributing Announces Barstow, California, Location

Meyer Distributing Inc. has announced the addition of its Barstow, California, location. The cross-dock will have a direct, next-day feed from Meyer’s Ontario, California, distribution hub, which houses a large inventory of automotive accessories and RV parts.

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