RumbleOn Acquires RideNow to Create Omnichannel Powersports Platform
August 31, 2021
RumbleOn, Inc. completed the acquisition of RideNow, acquiring 100% of the RideNow dealership portfolio to form a combined omnichannel powersports platform. The transaction consideration is up to $575.4 million (approximately $400.4 million cash and $175.0 million in RumbleOn Class B common stock) and was financed in part by a $280.0 million term loan commitment from funds managed by Oaktree Capital Management; the combined pro forma business sold more than 63,000 units in 2020 and generated approximately $1.3 billion in revenue.
- Buyers
- RumbleOn, Inc.
- Targets
- RideNow
- Sellers
- RideNow equity holders (including co-principal owners Mark Tkach and William Coulter), Certain minority RideNow equity holders (holders with rights of first refusal noted in filings)
- Industry
- E-Commerce
- Location
- Arizona, United States
- Transaction Type
- Buyout
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