Livingstone, an independent, international investment banking firm, announced the sale of American SportWorks LLC to Ambassador Enterprises. Livingstone acted as the exclusive financial advisor to American SportWorks. Terms of the deal were not disclosed.
Established in 1959, American SportWorks is a manufacturer and distributor of off-road utility vehicles (UTVs) and go-karts for a variety of big-box, mid-box, and independent retailers including Home Depot, Menards and Tractor Supply Company. The company is a market provider in producing affordable “lifestyle” UTVs, and is a pioneer in the development of versatile consumer-friendly light utility vehicles. American SportWorks operates manufacturing facilities in Ft. Wayne, IN and Roseland, LA.
Ambassador Enterprises is a private investment firm located in Ft. Wayne. The firm seeks to make majority acquisitions in regionally proximate companies doing business in a variety of industries.
“We are extremely pleased to have forged the relationship between American SportWorks and Ambassador,” said Livingstone managing director Joe Greenwood. “This partnership will enable American SportWorks to continue its market expansion and help the company remain a leader in the UTV and go-kart market.”
American SportWorks represents Livingstone’s seventh special situations transaction completed in 2012. Following successful transactions involving Swisher Mower and Genuine Scooter Company, the sale of American SportWorks continues Livingstone