IPO Edge and The Palm Beach Hedge Fund Association hosted a fireside chat with the Chairman & CEO of Empower Ltd. (NYSE: EMPW) and the CFO and EVP of Corporate Development and New Ventures of Holley Performance Products on Thursday, July 8 at 4pm ET to discuss their pending business combination. The live event features Empower Chairman & CEO Matt Rubel, Holley CFO Dominic Bardos, and Holley EVP of Corporate Development and New Ventures Vinny Nimmagadda. The panelists were joined by IPO Edge Editor-in-Chief John Jannarone in a moderated video session lasting approximately 60 minutes including a Q&A with the audience. Sentieo, an AI-enabled research platform, also provided financial data.
All shareholders, regardless of size, are encouraged to vote before the July 13 deadline to ensure the deal proceeds in a timely manner. More information on how to vote can be found at https://www.cstproxy.com/empower/sm2021
Holders of Empower shares who need assistance voting or have questions regarding the Extraordinary Meeting may contact Empower’s proxy solicitor, Morrow Sodali LLC, at (800) 662-5200 (banks or brokers can call collect at (203) 658-9400) or email EMPW.firstname.lastname@example.org.
Holley makes and sells parts including fuel-injection systems, carburetors, engine products and exhaust systems for high-performance cars. Based in Bowling Green, Ky., it markets to car and truck enthusiasts to personalize their vehicles with brands such as MSD, Flowmaster and Accel. The company is merging with special-purpose acquisition company Empower Ltd. in a deal valuing the company at about $1.55 billion.
Empower is a special-purpose acquisition company (“SPAC”) formed to pursue U.S. businesses that complement the leadership team’s broad experience in consumer-facing enterprises at the forefront of evolving preferences, tastes, experiences, and values and that have the potential to offer a differentiated proposition that creates more meaning and connectivity to the modern consumer. Led by former Collective Brands CEO Matt Rubel, the Empower leadership team’s deep consumer-based experience will help the team at Holley as they continue to develop their digital channels.
Messrs. Rubel, Bardos, and Nommagadda wdiscuss:
- How Holley has built the largest and fastest growing platform in the performance enthusiast automotive space
- Holley’s market leading iconic brands and the power of the enthusiast market
- The atypical SPAC – Holley’s impressive track record of profitability, product innovation, and accretive acquisitions
- The opportunity ahead in the Performance EV segment
- Holley’s unique digital and experiential marketing engagement
- Significant growth and opportunity in the high margin DTC channel
- How management will utilize the proceeds from the transaction to further accelerate growth and revenue
About the Speakers:
Matt Rubel serves as Empower’s Chief Executive Officer and Executive Chairman of Empower’s board of directors. Mr. Rubel serves as the Chairman of MidOcean’s Executive Board since joining the firm in 2018, where he leads the Executive Board’s efforts to provide industry insights to MidOcean’s investment teams and portfolio companies. Most recently, Mr. Rubel served as Chief Executive Officer, President, and Board Member of Varsity Brands, a leader in sport, spirit and achievement products, which he strategically focused and integrated. Previously, Mr. Rubel served as Chairman, Chief Executive Officer and President of Collective Brands, Inc., which included Payless ShoeSource, Sperry Topsider, Saucony, Stride Rite and Keds. Prior to Collective Brands, Mr. Rubel was Chairman, Chief Executive Officer and President of Cole Haan LLC, from 1999 to 2005. Prior to Cole Haan, he served in senior management roles at J. Crew Group, Revlon and Murjani International Ltd
Dominic Bardos serves as Chief Financial Officer for Holley. Previously, Mr. Bardos served as Vice President of Finance for Tractor Supply Company, the largest publicly traded rural lifestyle retailer. Previously, he served as Chief Financial Officer for Cambridge Franchise Holdings. Additionally, he held several leadership positions at ServiceMaster including three years as the divisional CFO for Terminix, their largest division. His experience also includes leadership positions in financial planning & analysis, strategic sourcing, supply chain, and customer service operations in large organizations such as Caesars Entertainment, Hilton Hotels, and Harrah’s Entertainment.
Vinod (Vinny) Nimmagadda serves as Executive Vice President of Corporate Development for Holley. Prior to joining the Holley team, Vinny served as Vice President at Jefferies Group, LLC in the Global Automotive Aftermarket team where he played an important role in many of the most-defining M&A transactions, financings, and equity offerings in the performance automotive aftermarket. Vinny graduated from Columbia University, where he earned a bachelor’s degree in Financial Economics. While at Columbia, he also served as President of the University’s chapter of the Society of Automotive Engineers and led a team of engineering students which competed nationally in the Formula SAE series.
IPO Edge Contact:
Jarrett Banks, Editor-at-Large