Massimo Group, which manufactures and distributes powersports vehicles and motor boats, filed on Monday with the SEC to raise up to $25 million in an initial public offering.
Massimo Group manufactures, imports, and distributes a portfolio of products across two main lines: motor sports, which consists of utility terrain vehicles, all-terrain vehicles, motorcycles, scooters, golf carts, and a juvenile line from go karts to balance bikes; and motor boats, which consists of pontoon and tritoon boats. The company's distribution network includes over 600 motor vehicle and 5,500 marine third-party service providers across the US.
The Garland, TX-based company was founded in 2009 and booked $100 million in sales for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol MAMO. Roth Capital and Craft Capital Management are the joint bookrunners on the deal. No pricing terms were disclosed.
