Holley’s net sales are estimated at $583 million for the fiscal year ended on December 31, 2020. Holley’s brands cover electronic fuel injection (Holley EFI), electronic tuning (APR, DiabloSport, Edge and Superchips), electronic ignition (MSD and ACCEL), carburetion (Holley), exhaust (Flowmaster and Hooker), safety (Simpson and Stilo) and other product categories. Founded in 1903, Holley is a leading designer, marketer, and manufacturer of high performance automotive aftermarket products, featuring the largest portfolio of iconic brands serving car and truck enthusiasts. Holley is controlled by Sentinel Capital Partners, L.L.C., a leading midmarket private equity firm, who will remain Holley’s largest shareholder upon closing. It is anticipated that the combined company will have approximately $485 million of net debt on its consolidated balance sheet. The company expects to use the proceeds from the transaction to invest in Holley’s growth initiatives, substantially reduce existing debt, support marketing efforts, and provide additional working capital. The transaction was financed through $250 million of cash held in Empower’s trust account, a $50 million forward purchase agreement from MidOcean Fund V, and a $240 million PIPE, which includes investments by Wells Capital Management, Inc. The transaction values Holley at an enterprise value of approximately $1.55 billion. (NYSE: EMPW), a publicly-traded special purpose acquisition company, announced they have entered into a definitive merger agreement that will result in Holley becoming a publicly listed company on the NYSE under the new ticker symbol “HLLY”.
On March 12, Holley, a large and fast-growing performance automotive aftermarket platform and Empower Ltd. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.Willkie represented Holley in the transaction, which values Holley at an enterprise value of approximately $1.55 billion. SUPERCHIPS SHALL NOT BE LIABLE TO YOU FOR ANY CONSEQUENTIAL, SPECIAL, OR INCIDENTAL DAMAGES. Consult your vehicle warranty before using the Product on your vehicle. Use of the Product to change the performance characteristics of your vehicle could invalidate the warranty provided by the vehicle manufacturer. This warranty does not cover damage to your vehicle.
This warranty does not cover Products purchased used nor does it apply to new Products purchased through an auction or entities that are not Superchips' authorized dealers. This warranty does not cover any problem that is caused by abuse, misuse, acts of God, or improper installation or repair by non-Superchips personnel. Superchips will reimburse you for all reasonable shipping charges within thirty (30) days of purchase. This warranty covers parts and labor only. Superchips will repair or replace the defective or malfunctioning Product or any defective or malfunctioning part thereof at no charge. Coverage terminates if you sell or otherwise transfer ownership of the Product. This warranty lasts for one (1) year from the date of purchase. This warranty covers any defects in materials or workmanship in any product sold by Superchips or its affiliates through its authorized dealers ("Product").
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