Comoto Holdings Inc.

Last updated

Comoto Holdings, Inc.
IndustryE-commerce
Motorcycle components
Motorcycle accessories
FoundedFebruary 2016;8 years ago (2016-02)
Founders
  • Nick Auger,
  • Anthony Bucci
  • Matthew Kull
  • J.W. Childs
Headquarters Philadelphia, Pennsylvania
Area served
Worldwide
Key people
Brands
  • BILT
  • Sedici
  • Street and Steel
  • Reax
  • Hot-wired
Subsidiaries
Website www.ridecomoto.com

Comoto Holdings is America's largest motorcycle parts and accessories aftermarket retailer, founded in 2016. The company merged RevZilla and Cycle Gear in 2016. The company acquired J&P Cycles and the motorcycle GPS app REVER four years later. The company's brands include BILT, Sedici, Street and Steel, Reax, and Hot-wired. The company's headquarters are in Philadelphia, Pennsylvania. RevZilla, Cycle Gear, Rever, and J&P Cycles are independent sister companies. In 2021, Comoto Holdings accelerated the fulfillment process with Exotec's Advanced Handling Systems. The robotic solutions and robotic goods-to-person systems will be used to fulfill orders. [1] The President and chief executive officer as of December 2023 is Zach Parham. [2] [3] [4] [5] [6]

Contents

History

In 2016, Cycle Gear and RevZilla, two of America's largest motorcycle parts and accessories aftermarket retailers, merged under Comoto Holdings valued between 400-500 million dollars. [7] Cycle Gear was a California-based company founded in 1974 by David Bertram, the CEO at its acquisition. During that period, the company owned 112 stores in 34 states, had a significant and growing online business, and distributed over 13 million catalogs annually. [3] [8] [9] [10] [11]

RevZilla was an online retailer founded by Nick Auger, Anthony Bucci, and Matthew Kull in 2007. By 2014, the company had 450 employees, and its headquarters were at the Philadelphia Naval Shipyard, which also featured a flagship store. One year later in 2015, RevZilla was valued at 75 million dollars. [12] In 2016, J.W. Childs Associates formed Comoto to merge the two companies. The company already owned Cycle Gear. Four years later in 2020, the company acquired the motorcycle GPS app REVER and J&P Cycles. [13] [14] [15]

Rever was a Colorado-based technology company that connected powersports customers globally through the free Rever app and website. The platform was designed to allow users to discover the best places to ride and drive. It featured tracks and off-road trails, allowing users to share navigation experiences. The app was downloaded more than one million times during its acquisition. [16] [17] [18]

J&P Cycles was founded by John Parham in 1979. The company operated retail stores in Ormond Beach, Florida, in the Daytona area, Sturgis, South Dakota, and Anamosa, Iowa, where the company was originally founded as a small motorcycle shop. The founder, John Parham, was inducted into the Sturgis Motorcycle Hall of Fame in 2006 and the AMA Motorcycle Hall of Fame in 2015. At the time of the acquisition, J&P Cycles had more than 300 employees and was led by John's son, President Zach Parham. Zach became the CEO of Comoto Holdings Inc. in December 2023. [19] [20] [21] [22] [23] [24]

Leadership

Comoto Brands was briefly run by Anthony Bucci one of the founders of RevZilla.  He resigned from the post in late 2016. [25]   Matt Kull one of the other founders of RevZilla took over the helm from 2017 until 2019. [26] During his tenure, RevZilla launched Reax.  The board then hired Ken Murphy to run RevZilla and Cycle Gear technically, Murphy became the President and CEO of Comoto Holdings. [27] Murphy managed the company for over four years from August 2019 until December 2023. During his tenure, the company acquired Rever and J&P Cycles.  Zach Parham became the current President and CEO directing all four companies. [2]

Helmets

In 2011, Cycle Gear founded two motorcycle helmet brands: BILT and Sedici. The company created designs and worked directly with manufacturers in countries like China and Pakistan to eliminate the middleman, allowing it to keep prices low. Initially, the brand offered a five-year warranty on BILT brands and a lifetime warranty on Sedici helmets. The name Sedici means 16 in Italian; it was considered a higher-end, European-inspired line guaranteed for life. By May 2017, one year after the merger with Comoto Holdings, the BILT brand's warranty changed from five years to one year, and the Sedici lifetime warranty was changed to two years. [28] [29]

On January 13, 2023, Comoto Holdings, Inc. issued a safety recall on specific models of the BILT helmets. The recall was for BILT Vertex helmets produced after September 1, 2021, and BILT Route helmets made after March 1, 2020. The National Highway Traffic Safety Administration issued a Safety Recall Report for roughly 18,980 helmets. The helmets did not provide impact protection in the event of a crash, which increased the rider's risk of head injury. The helmets suffered penetration test failures during independent testing, which did not comply with U.S. Department of Transportation standards. A recall was also issued for certain BILT Amped and Grommet helmets. [30] [31]

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References

  1. ↑ Staff Writer (July 26, 2021). "AHS to accelerate Comoto Holdings' fulfillment process with Exotec's robotic solution". Morganville, NJ: Modern Materials Handling. Archived from the original on July 26, 2021. Retrieved March 9, 2024.
  2. 1 2 Jensen Beeler (December 14, 2023). "Zach Parham Named CEO of Comoto Family of Brands". Coppell, Texas: J&P Cycles. Archived from the original on December 21, 2023. Retrieved March 9, 2024.
  3. 1 2 Staff Writers (March 9, 2024). "Cycle Gear History". Benicia, California: Cycle Gear. Archived from the original on December 4, 2023. Retrieved March 9, 2024.
  4. ↑ Staff Writers (February 3, 2020). "J&P Cycles Acquired by Comoto Holdings". Akron, OH: Motorcycle Powersports News. Archived from the original on May 23, 2022. Retrieved March 9, 2024.
  5. ↑ Paige Gross (January 31, 2020). "RevZilla's parent company, Comoto Holdings, just acquired another cycling retailer". Philadelphia, PA: Technical. Archived from the original on December 7, 2023. Retrieved March 9, 2024.
  6. ↑ Sarah Schmidt (November 14, 2020). "Comoto Holdings Acquires REVER, the World's Largest Motorcycle, Off-road, and Adventure GPS App and Community, to Further Expand the Comoto Family of Brands". San Francisco, California: Businesswire. Archived from the original on January 19, 2024. Retrieved March 9, 2024.
  7. ↑ Michael Tanenbaum (February 11, 2016). "Cycle Gear to buy Philadelphia's RevZilla in $400-500 million deal". Philadelphia, PA: Philly Voice Staff. Archived from the original on March 13, 2024. Retrieved March 13, 2024.
  8. ↑ Staff Writers (March 16, 2016). "J.W. Childs Associates Announces Investment In Comoto Holdings, Inc". Akron, OH: Motorcycle Powersports News. Archived from the original on March 9, 2024. Retrieved March 9, 2024.
  9. ↑ Jared Shelly (February 10, 2016). "RevZilla NOT Acquired by Cycle Gear But". Philadelphia, Pennsylvania: Philadelphia Magazine. Archived from the original on December 7, 2023. Retrieved March 9, 2024.
  10. ↑ Staff Writers (March 9, 2024). "Cycle Gear Acquires RevZilla Motorsports". Fort Lauderdale, Florida: Mergr Private Equity and M&A Database. Archived from the original on March 9, 2024. Retrieved March 9, 2024.
  11. ↑ Jensen Beeler (February 8, 2016). "Report: Cycle Gear to Acquire RevZilla?". Portland, Oregon: Asphalt & Rubber. Archived from the original on April 5, 2023. Retrieved March 9, 2024.
  12. ↑ Jared Shelly (July 14, 2015). "Meet the CEO Who Turned His Love of Motorcycles into a $75 Million Business". Philadelphia, Pennsylvania: Philadelphia Magazine. Archived from the original on January 16, 2024. Retrieved March 13, 2024.
  13. ↑ Staff Writers (February 11, 2016). "Revzilla and Cycle Gear to Join Forces". Irvine, California: Motorcyclist. Archived from the original on May 22, 2016. Retrieved March 9, 2024.
  14. ↑ Staff Writers (January 8, 2015). "JW Childs Associates Acquires Cycle Gear". San Francisco, California: Businesswire. Archived from the original on December 3, 2021. Retrieved March 9, 2024.
  15. ↑ Paige Gross (November 17, 2020). "RevZilla parent company Comoto Holdings has acquired motorcycle app REVER". Philadelphia, PA: Technical. Archived from the original on November 1, 2022. Retrieved March 9, 2024.
  16. ↑ Staff Writers (November 14, 2020). "Comoto Holdings acquires REVER". Eagle, CO: Rever Moto, Inc. Archived from the original on December 5, 2023. Retrieved March 9, 2024.
  17. ↑ Sabrina Giacomini (November 16, 2020). "RevZilla And Cycle Gear Parent Company Gets Its Paws On REVER". New York, NY: Ride Apart. Archived from the original on October 3, 2023. Retrieved March 9, 2024.
  18. ↑ Fabiola Cineas (April 4, 2018). "I Love My Job: At 10 Years, RevZilla Cofounder Matt Kull Reflects on the Company's Good Ol Startup Days". Philadelphia, Pennsylvania: Philadelphia Magazine. Archived from the original on December 1, 2022. Retrieved March 9, 2024.
  19. ↑ Staff Writers (February 1, 2020). "RevZilla parent company Comoto Holdings acquires J&P Cycles". Philadelphia, PA: RevZilla. Archived from the original on March 22, 2023. Retrieved March 9, 2024.
  20. ↑ Janaki Jitchotvisut (February 3, 2020). "Revzilla And Cycle Gear's Parent Company Just Bought J&P Cycles". New York, NY: Ride Apart. Archived from the original on February 7, 2023. Retrieved March 9, 2024.
  21. ↑ John McNulty (February 5, 2020). "Prospect Hill Revs Up Comoto". Evanston, IL: Private Equity Professional. Archived from the original on March 9, 2024. Retrieved March 9, 2024.
  22. ↑ Staff Writers (February 5, 2020). "American Motorcyclist Association". Pickerington, OH: American Motorcyclist Association. Archived from the original on October 1, 2023. Retrieved March 9, 2024.
  23. ↑ Sarah Schmidt (January 31, 2020). "Comoto Holdings Acquires J&P Cycles to Further Expand the Comoto Family of Brands". San Francisco, California: Businesswire. Archived from the original on December 3, 2022. Retrieved March 9, 2024.
  24. ↑ Jensen Beeler (February 20, 2020). "The Borg Collective Continues to Grow, As Comoto Buys J&P Cycles". Portland, Oregon: Asphalt & Rubber. Archived from the original on April 1, 2023. Retrieved March 9, 2024.
  25. ↑ Jensen Beeler (December 16, 2016). "Anthony Bucci Steps Aside as CEO of RevZilla". Portland, Oregon: Asphalt & Rubber. Archived from the original on July 13, 2023. Retrieved March 13, 2024.
  26. ↑ Staff Writers (November 22, 2017). "Matt Kull Tapped To Lead RevZilla and Cycle Gear". Akron, OH: Motorcycle Powersports News. Archived from the original on March 9, 2024. Retrieved March 13, 2024.
  27. ↑ Jensen Beeler (August 14, 2019). "RevZilla Quietly Gets a New CEO, Ken Murphy". Portland, Oregon: Asphalt & Rubber. Archived from the original on July 21, 2023. Retrieved March 13, 2024.
  28. ↑ Greg Drevenstedt (March 8, 2013). "Bilt Explorer Motorcycle Helmet Review". Bloomington, MN: Rider. Archived from the original on November 29, 2023. Retrieved March 9, 2024.
  29. ↑ Staff Writer (March 15, 2017). "Cycle Gear to change warranty on BILT and Sedici brands". Toronto, Canada: FZ09.org. Archived from the original on March 9, 2024. Retrieved March 9, 2024.
  30. ↑ Staff Writer (March 9, 2024). "Recall Notice". Benicia, California: Cycle Gear. Archived from the original on June 6, 2023. Retrieved March 9, 2024.
  31. ↑ Janaki Jitchotvisut (January 23, 2023). "Recall: Some BILT Vertex And Route Helmets May Not Protect In A Crash". New York, NY: Ride Apart. Archived from the original on February 7, 2023. Retrieved March 9, 2024.
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