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New owner of Erik Buell Racing
14-1-2016 - New owner of Erik Buell Racing says the firm could make a comeback
New owner of Erik Buell Racing says the firm could make a comeback
By Rick Barrett of the Journal Sentinel Jan. 14, 2016 10:54 a.m.
The new owner of Erik Buell Racing motorcycle company says the East Troy firm could make yet another comeback if the right business partners get involved.
Thursday, Walworth County Circuit Court Judge Phillip Koss approved the sale of Erik Buell Racing to Liquid Asset Partners for $2 million.
The Grand Rapids, Mich., firm won the bidding for the motorcycle company that employed 130 people in East Troy until it ceased operations in April and filed for receivership, a state court proceeding similar to bankruptcy.
It was the third auction for the Buell manufacturing assets after two previous auctions failed.
Now, Liquid Asset Partners says it wants to develop a plan that could put Erik Buell Racing back in the business of making high-performance motorcycles.
"We will not be manufacturing motorcycles, as Liquid Asset, but we will be working to put together a plan with a team that can be successful in doing that," said Liquid Asset President Bill Melvin.
"There are no guarantees. A portion of our business is that we are liquidators, but we are also power players in the motorcycle industry," Melvin said.
"We will be working through all of our contacts and networks, and we will be working closely with the management of EBR to put together a viable plan that can succeed long term," he added.