Fox Factory Holding Corp. announced it has entered an agreement to acquire Air Ride Technology, Inc.’s Ridetech, a manufacturer of suspension systems for muscle cars, trucks, sports cars and hot rods.

The move expands the powered vehicle business for FOX, a trademarked brand of Fox Factory Holding Corp.

Ridetech offers a wide range of products including air suspension systems, coil-overs, shock absorbers, coil and leaf springs, tubular control arms, roll bars and sway bars for an array of applications, including restorations, show cars, high-speed autocross cars and track day cars.

"The strategic, accretive acquisition of Ridetech is well-aligned with our mission of improving vehicle performance, delivering best-in-class service, and entering into strategic adjacent markets," said Mike Dennison, FOX's Powered Vehicles Group President. "We believe the powered vehicles market remains an attractive, long-term growth opportunity for FOX and that Ridetech will continue on its path of growth as they leverage our global marketing, engineering, distribution, and supply chain resources."

"We are excited to be joining the FOX team and believe the expected synergies between us will enable Ridetech to more effectively design and optimize suspension systems and quickly broaden our combined customer base by utilizing FOX's infrastructure to efficiently deliver aftermarket on-road car and truck suspension products and services,” Bret Voelkel, founder of Ridetech, said.

FOX expects Ridetech to contribute $6 to $8 million in sales in 2019.

Details of the acquisition were disclosed. The purchase will see FOX pay approximately $14 million through a combination of cash and newly unregistered common stock of FOX.

For more information on the companies, visit the FOX website or the Ridetech website.