PowerSports Business

November 6, 2017

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20 • November 6, 2017 • Powersports Business www.PowersportsBusiness.com FOCUS PSB CPC claims seven-figure victory after lengthy battle Janesville, Wisconsin-based Certified Parts Corporation (CPC) announced in October that it has won a seven-figure damage award against Platinum Equity Advisors LLC and one of its former employees, Rudolf Strobl, president of TecumsehPower, in a recently concluded case in Rock County, Wisconsin. Certified Parts Corporation is a world recog- nized leader in procurement and sales of OEM parts for the off-road industry with 16,000 dealers worldwide. Platinum Equity is a Beverly Hills, California-based private equity firm with more than $11 billion dollars under manage- ment that was founded by Tom Gores. At issue in the recently concluded case (#11-CV-677) was whether Platinum Equity's portfolio company TECUMSEHPOWER had delivered all of the small engine related assets that CPC had purchased from it as part of a 2009 asset purchase agreement (APA). Platinum Equity, and its Connecticut-based attorneys, maintained that CPC received every- thing it was entitled to under the APA. CPC prevailed upon the court that Platinum Equity must be ordered to deliver the assets they still had control over, pay damages for those assets that could not be recovered and their counsel be admonished for withholding critical docu- ments during the trial. After a lengthy trial, the court ruled that CPC was entitled to a variety of intellectual property still in existence and over $1 mil- lion dollars toward the loss of hard assets that Platinum Equity and Strobl were involved in disposing elsewhere. The court also admonished Platinum Equity's counsel for wrongfully withholding Platinum Equity documents from the case. CPC has since recovered the intellectual prop- erty, and received the total judgment paid promptly by Platinum Equity to expedite con- clusion before an appeal by CPC. James G. Grafft, founder and owner of CPC said, "The judgment against Strobl and Plati- num Equity for damages and legal fees com- bined to exceed what I originally paid for the assets. The court agreed with our assertions that Platinum Equity acted in bad faith through its tortious interference and conversion, with an improper motive. It was unfortunate, as the court found, that there were actions done in spite and motivated out of a desire to see CPC fail in our new ventures. We feel vindicated that not only did the court hold Strobl and Platinum accountable, but that the ventures they wanted to see us fail in, are succeeding." Grafft continued, "While we were pleased with the judgment results, we were just as eager to put the intellectual property to use in bringing back engines into production that were long staples in the snow thrower, gen- erator and lawn and garden markets. We are excited to return some of these engines to their former glory under their trademarked names of TecumsehPower, Lauson and Snow King." The Lauson trademark represents one of the first-ever engine companies established in the U.S. PSB of what they want to put on their bikes and be seen riding with. I also witnessed how they've adapted our products to suit their individual lifestyle. I honestly don't believe I could have gotten such thorough feedback any other way, and am stoked to put this feedback in motion on future luggage designs." Sandoval and his Chihuahua Scooter have logged over 100,000 miles using Kuryakyn luggage, including the Pet Palace, which Adam claims to have saved Scooter's life after being struck by a distracted driver in 2016. During his travels, Sandoval has provided Kuryakyn with crucial feedback on every bag he uses. "More and more brands are relying on digi- tal influencers to help with decision-making," said Sandoval. "It's our job to keep our opin- ions genuine and real. People count on that daily. Kuryakyn luggage is designed with func- tion for the road, but still looks great on my bike. They not only care about the quality of their product, but also the service that goes with it. That makes it easy for me to put my name behind this brand and recommend it to riders worldwide." PSB KURYAKYN CONTINUED FROM PAGE 18 Kuryakyn gathered feedback from its XKurision to the Badlands participants to improve its accessories. Certified Parts Corp. awarded damages in suit

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