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Author Topic: Corbin  (Read 4156 times)

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bandit

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Corbin
« on: October 20, 2009, 02:53:05 PM »
found on: http://www.asphaltandrubber.com/news/seat-manufacturer-corbin-sale/
posted at: Oct. 17th 09

One of the largest aftermarket parts manufacturers, Corbin Pacific (known best for its Corbin seats line) is up for sale. On the chopping block since early this year, the California based company has been unable to find a buyer. Continue past the job for the financial details.

Investment bankers are asking $11.5 million for the company, which has offices in both California and Florida. With over $14 million in revenue for 2008, that puts the asking price around the industry standard .8 multiple. Corbin’s net income in 2008 was $1.9 million, which puts operating margins around 13%. If you’ve got a pention for cutting fat, and a $3 million down payment, you too could own your very own seat manufacturer.
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MKW

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Re: Corbin
« Reply #1 on: October 20, 2009, 03:41:21 PM »
Funny, I was just reading about HD dropping Buell and now this.  I own two Corbin seats and they are great.  Hope they stay in business even if under new ownership.
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Gone Fishin'

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Re: Corbin
« Reply #2 on: October 20, 2009, 03:43:39 PM »
I am lead to believe that their 2009 revenue would be by about 20 to 30 percent less, with probably a break even (at best) or a loss. Gentlemen, keep your wallets closed!

Ride safely,
Louis
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ice6900

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Re: Corbin
« Reply #3 on: October 20, 2009, 03:55:14 PM »
Quote from: Louis on October 20, 2009, 03:43:39 PM
I am lead to believe that their 2009 revenue would be by about 20 to 30 percent less, with probably a break even (at best) or a loss. Gentlemen, keep your wallets closed!

Ride safely,
Louis

If everybody keeps there wallets closed then there is gonna be a hell of a lot of closed companies and many more jobless homeless people. Entrepeneur with deep pockets required!
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sportygordy

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Re: Corbin
« Reply #4 on: October 20, 2009, 10:46:33 PM »
I think Divorce and feud is the driving force to this sale.   :nixweiss:
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spydglide

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Re: Corbin
« Reply #5 on: October 22, 2009, 06:05:57 PM »
Quote from: sportygordy on October 20, 2009, 10:46:33 PM
I think Divorce and feud is the driving force to this sale.   :nixweiss:
Better than a 'shootin'  :knife:  :nervous:  spyder
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RK02

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Re: Corbin
« Reply #6 on: October 30, 2009, 02:25:12 PM »
I've been exceptionally pleased with Corbin seats.  I currently have 5 HDs ('75 Sportster, '79 Low-rider, '02 Road King Classic, '06 Ultra, '10 CVO Ultra) -- all purchased new.  I've added a Corbin on every bike & each has been a great addition.  I have over 330,000 miles on my first 2 bikes, 113,000 miles on the RK, 69,000 miles on the Ultra, & just 8200 on the new CVO.  I love the Dual Touring for my last 3 bikes & the CVO has the dual touring with heat.  I probably didn't need to swap out the seat on the CVO (it was very comfortable to start), but I put a lot of mileage on my bikes & I'm so used to Corbin, I just couldn't help it.
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JCZ

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Re: Corbin
« Reply #7 on: November 19, 2009, 04:48:32 PM »
Quote from: RK02 on October 30, 2009, 02:25:12 PM
I've been exceptionally pleased with Corbin seats.  I currently have 5 HDs ('75 Sportster, '79 Low-rider, '02 Road King Classic, '06 Ultra, '10 CVO Ultra) -- all purchased new.  I've added a Corbin on every bike & each has been a great addition.  I have over 330,000 miles on my first 2 bikes, 113,000 miles on the RK, 69,000 miles on the Ultra, & just 8200 on the new CVO.  I love the Dual Touring for my last 3 bikes & the CVO has the dual touring with heat.  I probably didn't need to swap out the seat on the CVO (it was very comfortable to start), but I put a lot of mileage on my bikes & I'm so used to Corbin, I just couldn't help it.

Now that's a dedicated customer.  Maybe you should look at buying the business, bumping the customer service and making your fair share instead of giving them your fair share. ;D

On the serious side.....just from this forum alone it seems like their customer service has dropped even lower since they went up on the block.  That's certainly no way for employees to keep their job with the new owner.  Seems to primarily be those hand full of employees that answer the phones.  Those out in the shop still seem to be producing the same.
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kraut

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Re: Corbin
« Reply #8 on: November 19, 2009, 07:03:11 PM »
the news that Corbin's for sale broke somewhen in January or February this year. Last info was that as he found no buyer he will keep the company and hired some new sales representatives to haunt the american dealers with, was on dealernews last month. "A source familiar with the company said that Corbin has put his retirement plans on hold."
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cuttinhorse

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Re: Corbin
« Reply #9 on: November 29, 2009, 11:17:13 AM »
Quote from: MKW on October 20, 2009, 03:41:21 PM
  Hope they stay in business even if under new ownership.

Would not be a smart business decision to buy a company and shut it down.

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spydglide

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Re: Corbin
« Reply #10 on: November 29, 2009, 12:29:28 PM »
Quote from: cuttinhorse on November 29, 2009, 11:17:13 AM
Would not be a smart business decision to buy a company and shut it down.


Sounds like something HDI would do. :-[  spyder
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