Holley is going public; expect an IPO this spring
Holley, the brand known for its performance carburetors and fuel-injection systems, just announced that it’s going public. Empower Ltd., a special-purpose acquisition company led by American entrepreneur Matthew Rubel, will use the initial public offering to secure funds to merge with Holley. If all goes according to plan, Holley’s current leadership will remain on board with Rubel becoming the chairman of the board. According to MarketWatch.com, “Proceeds of the deal will be used to pay down debt, support marketing, and for working capital.”
Holley has added several performance products brands to its portfolio in recent years. Brands that fall under the Holley umbrella include several well-known names from the performance aftermarket including Flowmaster, Hurst, and MSD, but also BMW-tuning specialist Dinan, motorsports safety equipment manufacturers Simpson and HANS, and Detroit Speed, makers of Pro Touring suspension for muscle cars and pony cars.
If you want to own a bit of Holley that’s not a double-pumper or a Dominator, the IPO and merger are expected to happen in the second quarter of this year.