The future of Erik Buell Racing is still unknown. The latest news is that the asstes of the company were bought by mysterious investor going under the name Atlantic Metals Group LLC. According to press leaks, the new owner intends on keeping Buell in the bike business, but the full details of the plans have yet to be detailed.
As the Millwaukee Journal Sentinel reports, “The buyer was identified in court documents as Atlantic Metals LLC. Nothing else was disclosed about the buyer, other than they’ve agreed to acquire all of Erik Buell Racing’s motorcycle manufacturing assets which includes machinery, tooling, motorcycle inventory, parts inventory, accounts receivable and intangible assets.”
Atlantic paid $2.25 million for the company. That’s a very low numbercompared to the $25 million that Hero MotoCorp paid for 49 percent of EBR. The Indian company will take over the consulting side of the business while Atlantic will control the manufacturing business on its own.
There’s no official word on what the mysterious company plans to do with EBR. What we know is that Bruce Belfer will become the new CEO of Erik Buell Racing while Erik Buell will most likely stay president. “Without the consulting work the company was doing for Hero MotoCorp, the motorcycle company was a viable business. In my opinion, what was a viable manufacturing operation had become distracted by a single-customer consulting operation,” said Belfer to the Milwaukee Business Journal.
So is it a new era for Erik Buell Racing? We hope for the best.