Lacks Enterprises Inc. has announced its agreement to acquire a majority stake in Forgeline Motorsports, a custom, made-to-order, lightweight forged aluminum street and racing wheels manufacturer based in Dayton, Ohio.
Brothers David Schardt and Steve Schardt, co-founders of Forgeline Motorsports, will collectively retain a minority ownership of the company. The financial terms of the agreement are not being disclosed.
Ryan Lacks, managing director of the wheel division of Lacks Enterprise, expressed the company’s excitement to work alongside the talented team at Forgeline. He emphasized the communities that the Forgeline brand serves and highlighted the synergy between the two family-owned, U.S.-based wheel manufacturers.
The Forgeline brand is very strong in the racing and automotive aftermarket communities, and we look forward to working alongside its talented team. This is the ideal fit between two family-owned, U.S.-based wheel manufacturers. -Ryan Lacks, Lacks Enterprise
The acquisition is mutually beneficial, as it provides a unique symmetry that compliments both companies. Lacks, being ISO certified and an approved vendor to global automakers, provides Forgeline with an immediate in-road to offer its industry-leading, high-performance wheels to the original equipment market. On the other hand, Lacks gains a well-established wheel manufacturer with strong engineering experience and aftermarket relationships for carbon fiber wheel business growth.
David Schardt, president of Forgeline, noted that the acquisition will provide increased research and development investment and manufacturing capabilities, while Lacks gains access to their aftermarket customers and wheel manufacturing. He described it as a ‘win-win’ with terrific growth opportunities.
This acquisition provides us with increased research and development investment and manufacturing capabilities, while Lacks gains access to our aftermarket customers and wheel manufacturing. It truly is a ‘win-win’ with terrific growth opportunities. -David Schardt, Forgeline.
Furthermore, Ryan Lacks assured that the acquisition will not disrupt Forgeline’s operations in Dayton and emphasized the company’s commitment to its employee base and customers. The new entity will be known as Lacks Forgeline, LLC, and the company envisions immediate growth, expecting to add staff in Dayton and Grand Rapids.
Steve Schardt expressed excitement about the alliance, viewing it as a significant step for…
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