IMAR purchases Classic Roadsters

dscott · #1 (**permalink**) 10-02-2002, 03:05 PM

International Marine and Recreation (IMAR) has purchased Leisure Industries as of October 1st. Classic Roadsters was a division of Leisure. The new company is still locally owned. A new CEO has been appointed (Tom Eide). Gary Rutherford will be the President and head of engineering and design and still retain partial ownership. This purchase will enable the company to further enhance its product line and fullfill all prior obligations in a more timely fashion. With new capital the company is better positioned to ship kits and components without the backorder problems of late. I am very excited about the change as are the employees of Classic Roadsters. I look forward to a good relationship with the new owners.
Don

Double Venom · #2 (**permalink**) 10-02-2002, 03:20 PM

Ohhh...phew!
Finally!

DV

Spanky · #3 (**permalink**) 10-02-2002, 05:38 PM

DScott and DV,
You both seem rather pleased with this news, so I accept that this is good for Classic. Do you have any ideas what we can expect as far as enhancements or is it too soon? Does IMAR have a website?

Spanky, www.spanky@teknett.com

dscott · #4 (**permalink**) 10-03-2002, 07:59 AM

I am pleased. The problem that they were having was with the boat division of Leisure. It seemed to pull all available resources from Classic which caused some problems for them. The new company has made a commitment to the car division to clear up any backorder problems and keep the shelves stocked. It's too early to know what else will be taking place but I would like to see the car line enhanced and updated. Classic has a good product but needs some changes. I've worked with them over the past to try and improve the Cobra and many changes have taken place but more is needed. As soon as the dust settles I'm going to have a meeting with the new owners and see what position they are going to take on improving the line.
Don

jdean · #5 (**permalink**) 10-03-2002, 01:45 PM

Don, I agree. If there were just a few changes, it would make CR really state-of-the art as far as kits are concerned.

FFR - some prefer them, some don't. But I have to give credit to the Smiths. They are constantly improving and making changes, even with the legal distractions of late. If CR can make similar degree of changes, it would take it to a new level.

It seems like many of the changes would be common sense, and not expensive to implement. But then again I am not running a kit car company so maybe I under-estimate what it would take.

John

Jack21 · #6 (**permalink**) 10-03-2002, 04:57 PM

Was hoping that Don and DV would be in a position to become the new owners of CR Cars. Oh well.

Like everyone else, will keep my fingers crossed that this change of ownership doesn't have the same effect the last one did.

Would be a great idea if Don and possibly DV, would pay a visit to new owners in beautiful, downtown Fargo to discuss engineering updates, many of which are long overdue.

Late Mustang front suspension so that all the Mustang Cobra R pieces retrofit. 8.8 or 9" IRS option so all Mustang Cobra R pieces retrofit. Revised assembly manual and parts shopping guide. Better electrical schematics and options in assembly manual. Realistic Ford engine and trans install options. Deletion of all references to Mustang II's. Dramatic downplay of junkyard shopping for donor parts. Realistic vendor references for new and rebuilt components, tubular suspension components, shocks, brakes, steering, electrical, OEM Ford, OEM AC (British parts), etc., etc.

The crime of it all is the CR is a solid piece of work when compared side by side with other brands. Mine is just over a year old (on the street) with about 11,000 miles on the odometer, and am still amazed at how roadworthy (and weathertight) this thing is, yet not tempermental or having any bad habits.

Don · #7 (**permalink**) 10-03-2002, 05:14 PM

Don & DV:

As part of the business plan for the " new " company, they need to have both of you on the Board of Directors. Then watch the enhancements, product enginerring and availability, and all else concerning the Cobra and other kits make substantial progress. Most important, the new company would have direct feedback from the constructors and consumer's point of view.

Don

Double Venom · #8 (**permalink**) 10-03-2002, 07:35 PM

Fellas,

We too are making arrangements to meet with the new owners of "IMAR". I'm hoping that Don and I can time it , to meet with them at the same time.

I haven't talked to Don about this, but feel free to call in our behalf. If I may suggest that you suggest that "they" meet with "us" in ernest.

I've done this before with CR's. I met with them a long time ago with some but limited success. Somehow, I think this time things are all going for the better!

DV

dscott · #9 (**permalink**) 10-04-2002, 08:13 AM

DV, since I'm only 2 hours from Fargo I'm ready whenever you are.

Jack21, Those are exactly the things we need to discuss. I agree the car is solid, with some enhancement it can only get better.

Don, You are right. They need someone from the outside to direct them in what the consumers are wanting. What better way than to have the builders there. I would love to see Classic back on top as they once were for years. There's a lot of potential for the company if someone will spend the time and money on engineering and updating.
Don

Don · #10 (**permalink**) 10-04-2002, 04:59 PM

Don:

Could not find an e-mail address, web site or financial report for IMAR. For those that want to contact IMAR with opinion, suggestions, etc., do you have a name and address at IMAR so everyone contacts the same person , the CEO would be fine ?

Don

Spanky · #11 (**permalink**) 10-04-2002, 05:53 PM

Yeah,
What Don said to Don!!!
Spanky.

dscott · #12 (**permalink**) 10-05-2002, 08:21 AM

Don, IMAR is a new company. I'm sure there is nothing on them anywhere since this has only taken place in the last 60 days or so. I'll see what I can find out about the owners or some of the other companies I know they own. From what I have heard there are 5 investors that purchased Classic. All are business owners in the Fargo and surrounding area. One of the companies was a supplier for the Hummer coachs that Classic builds. I know all are very successful at what they do.
Don

Double Venom · #13 (**permalink**) 10-05-2002, 09:43 AM

Hmm, how to explain this?

The new owners have hired a professional "CEO" if you will. From what I know he is an expert at turning mediocre or failing company's around and making them bigger and better. He cuts waste, upgrades, cleans the fat, then gets the business rolling on the straight and narrow.

From what I understand he is very good at it. Now we will just have to wait and see. I for one have great expectations.

DV

J. T. Toad · #14 (**permalink**) 10-12-2002, 09:12 AM

I can only imagine how much money could be saved in additional shipping costs by avoiding backordered items.