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of federal affairs at the MIC government relations office . His duties will include engaging OHV enthusiasts , land managers , legislators , federal and state agencies , industry professionals , and others to amplify the powersports industry ’ s efforts to maintain , expand , and protect off-highway trail networks . He will continue supporting ongoing efforts to obtain federal and state funding for off-highway vehicle recreation .
Most recently , Taylor served as the executive director of the National Off- Highway Vehicle Conservation Council ( NOHVC ), where he led a variety of nationwide initiatives to support land access , trail projects , and responsible recreation .
“ We ’ re excited to have Duane back on our team ,” says Erik Pritchard , MIC president and CEO . “ He learned a lot at NOHVCC and we will leverage his and our expertise to serve the OHV community at a time when there is a tremendous opportunity to grow and improve access for OHV recreation . Duane will work ably with land managers , clubs , and industry to support responsible recreation on public lands .”
“ I am thrilled to return to the Motorcycle Industry Council ,” Taylor adds . “ Particularly as I will have the opportunity to focus on issues about which I am most passionate – safe and responsible use of OHVs .”
OCTANE COMPLETES $ 400M ASSET-BACKED SECURITIZATION
Octane Lending , Inc . recently announced that it has closed a $ 400 million securitization ( OCTL 2023−2 ) collateralized by its fixed-rate installment powersports loans issued through its in-house lender , Roadrunner Financial , Inc .
Due to investor demand , Octane was able to secure an upsize of $ 400 million for the transaction from an initial target issuance of $ 300 million . The company says it continues to diversify its investor base by attracting several new investors while also maintaining the support of existing institutional investors . ATLAS SP Partners acted as lead manager and structuring agent , with J . P . Morgan and Truist Securities serving as joint bookrunners . This marks Octane ’ s eighth transaction to date .
“ Our capital markets strategy continues to be a differentiator for Octane and our successful securitization program is a testament to the underlying strength of our business ,” says Steven Fernald , chief financial officer at Octane . “ We ’ re grateful to our institutional investor partners for their support as we connect people with their passions and make buying better .”
“ Octane ’ s end-to-end buying experience has fundamentally changed the way individuals can make lifestyle purchases , and we ’ re thrilled to have supported the company on its revolutionary securitization program ,” says Thomas Pai , head of Auto / Equipment origination at ATLAS SP Partners . “ We look forward to continuing to work with the team at Octane as it continues to innovate to capitalize on strong investor and consumer demand .”
This transaction follows a string of introductions from Octane , including a digital soft pull tool , Prequal Flex , and its business-to-business ( B2B ) loyalty program , Octane Preferred , to its over 4,000 powersports dealer partners nationwide .
MOTOREX CELEBRATES KTM PARTNERSHIP WITH LIMITED- EDITION PRODUCT
MOTOREX has launched an exclusive limited-edition run of high-performance engine oils to celebrate its 20−year partnership with KTM . The POWER SYNT 4T SAE 10W / 50 and CROSS POWER 2T products will be available exclusively at KTM dealers . The companies partnered two decades ago with an understanding that coming in second was not an option . Today , the two companies share 119 world championship titles from motocross to supercross , enduro to rally , and Moto2 to Moto3 . The passion to “ exceed the limits ” has paid off and was most recently represented with a victory at the 2023 Dakar Rally in January , thanks to Kevin Benavides ( Red Bull KTM Factory Racing ).
MOTOREX ’ s Race Laboratory and KTM ’ s R & D Department , under meticulous conditions , are where the findings from the racetrack are jointly analyzed to continually challenge the limits of what is possible .
The MOTOREX limited-edition POWER SYNT 4T SAE 10W / 50 and CROSS POWER 2T products will be available exclusively at KTM dealers . Photo courtesy of MOTOREX
With KTM , MOTOREX has access to some of the greatest riders and teams to constantly test and further develop its products . It is important to MOTOREX that aside from these race teams , all other riders around the globe also reap the benefits of this competitive advantage , so MOTOREX products are not only made in Switzerland , but also engineered in cooperation with KTM .
LIVEWIRE NAMES INDUSTRY VETERAN AS CEO
LiveWire has announced the hire of Karim Donnez as chief executive officer ( CEO ), effective June 12 , 2023 . Donnez will succeed current CEO Jochen Zeitz who , having served as CEO for an agreed period , will remain as chairman of LiveWire Group , Inc .
“ Having successfully stood-up LiveWire as a brand and listed the company on the NYSE , I ’ m excited to pass the baton to Karim and to welcome him as LiveWire ’ s new CEO , following an extensive global search process ,” says Zeitz , chairman , president and CEO of Harley- Davidson . “ Karim is an entrepreneurial business leader with a demonstrable track record of driving transformational growth through both strategy development and implementation . The Board and I look forward to Karim realizing the potential of LiveWire , as we continue on the company ’ s journey to lead the electrification of the sport .”
Donnez joins LiveWire from BRP where he was most recently president of
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