Excelsior-Henderson Motorcycle
Encyclopedia
The Excelsior-Henderson Motorcycle Company was founded by Dan Hanlon in Burnsville, Minnesota
as Hanlon Manufacturing Company (HMC) in 1993, and thereafter legally changed its name to the Excelsior-Henderson Motorcycle Manufacturing Company. The company set as its mission to design and manufacture premium quality American-made cruiser and touring motorcycles. The company secured the motorcycle names from the past of Excelsior and Henderson previously owned by Ignatz Schwinn of the Schwinn
companies, and proceeded to design and manufacture OEM proprietary motorcycles with design originality of the former Excelsior
and Henderson
motorcycles.
Mr. Hanlon had earlier started several companies and previously was employed with two Fortune 500
companies. He recruited a management team, which included Tom Rootness as Chief Financial Officer, Al Benz as Vice President of Engineering, Allan Hurd as Vice President of Manufacturing, and John LaVoie as Vice President of Sales and Marketing. Mr. Hanlon's brother Dave Hanlon, and his wife Jennie Hanlon, also joined the company. From the time of inception through production, the company secured equity and debt financing of approximately $100 million, which included the new factory and finishing facility. Initially financing came from Mr. Hanlon and his family and friends. As the company grew, public and private debt, and private accredited investors were added to the equity mix, and ultimately the company conducted an IPO (BIGX) during 1997. The stock symbol BIGX was chosen in respect to the former Excelsior motorcycle company that had furnished USA military motorcycles to the World War I
effort. The soldiers nicknamed the motorcycles, the "Big X" due to the large x emblazoned on the fuel tank.
vehicle, including a new engine, frame, and all related drive and styling components. A significant investment was made in the engineering design and tooling, which encompassed the first five years of the company's operations. The motorcycle is an updated design with styling and engineering being adopted from the earlier Excelsior-Henderson motorcycles from the 1905-1931 timeframe. The 1929 Excelsior Super X is credited among historians as being the first modern-day cruiser motorcycle design.
, Minnesota
. The factory was equipped for a capacity of 10,000 motorcycles per year, and, with a few minor assembly and finishing line changes, would have had a capacity of 20,000. The company hoped to achieve full production in the fifth production year. The first calendar (not model year) production year was projected at 4,000 units which would include parts of two model years.
revivals, which invested an estimated $240 million, and the Polaris Victory
motorcycle launch, which invested an estimated $200 million.
There is an official Excelsior-Henderson Motorcycles website which maintains information and links about the company and motorcycles. In addition, a book was published, titled Riding The American Dream.
Burnsville, Minnesota
Burnsville is a city south of downtown Minneapolis in Dakota County in the U.S. state of Minnesota. The city lies on the south bank of the Minnesota River, upstream from the confluence with the Mississippi River...
as Hanlon Manufacturing Company (HMC) in 1993, and thereafter legally changed its name to the Excelsior-Henderson Motorcycle Manufacturing Company. The company set as its mission to design and manufacture premium quality American-made cruiser and touring motorcycles. The company secured the motorcycle names from the past of Excelsior and Henderson previously owned by Ignatz Schwinn of the Schwinn
Schwinn Bicycle Company
The Schwinn Bicycle Company was founded by German-born mechanical engineer Ignaz Schwinn in Chicago in 1895. It became the dominant manufacturer of American bicycles through most of the 20th century and today it is a sub-brand of Pacific Cycle, owned by the multi-national conglomerate, Dorel...
companies, and proceeded to design and manufacture OEM proprietary motorcycles with design originality of the former Excelsior
Excelsior Motor Manufacturing & Supply Company
Excelsior Motor Manufacturing & Supply Company was a U.S. motorcycle manufacturer operating in Chicago from 1907 to 1931. It was purchased by Ignaz Schwinn, proprietor of bicycle manufacturer Arnold, Schwinn & Co. in 1912. The Henderson Motorcycle Company became a division of Excelsior when...
and Henderson
Henderson Motorcycle
Henderson produced 4-cylinder motorcycles from 1912 until 1931. They were the largest and fastest motorcycles of their time, and appealed to sport riders and police departments. Police favored them for traffic patrol because they were faster than anything on the roads...
motorcycles.
Mr. Hanlon had earlier started several companies and previously was employed with two Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
companies. He recruited a management team, which included Tom Rootness as Chief Financial Officer, Al Benz as Vice President of Engineering, Allan Hurd as Vice President of Manufacturing, and John LaVoie as Vice President of Sales and Marketing. Mr. Hanlon's brother Dave Hanlon, and his wife Jennie Hanlon, also joined the company. From the time of inception through production, the company secured equity and debt financing of approximately $100 million, which included the new factory and finishing facility. Initially financing came from Mr. Hanlon and his family and friends. As the company grew, public and private debt, and private accredited investors were added to the equity mix, and ultimately the company conducted an IPO (BIGX) during 1997. The stock symbol BIGX was chosen in respect to the former Excelsior motorcycle company that had furnished USA military motorcycles to the World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
effort. The soldiers nicknamed the motorcycles, the "Big X" due to the large x emblazoned on the fuel tank.
New Super X motorcycle
The company had a detailed business plan, and the motorcycle is a new, proprietary original equipment manufacturer (OEM)Original Equipment Manufacturer
An original equipment manufacturer, or OEM, manufactures products or components that are purchased by a company and retailed under that purchasing company's brand name. OEM refers to the company that originally manufactured the product. When referring to automotive parts, OEM designates a...
vehicle, including a new engine, frame, and all related drive and styling components. A significant investment was made in the engineering design and tooling, which encompassed the first five years of the company's operations. The motorcycle is an updated design with styling and engineering being adopted from the earlier Excelsior-Henderson motorcycles from the 1905-1931 timeframe. The 1929 Excelsior Super X is credited among historians as being the first modern-day cruiser motorcycle design.
Factory
During 1997-98, the company constructed a modern state-of-the-art factory in Belle PlaineBelle Plaine, Minnesota
As of the census of 2000, there were 3,789 people, 1,396 homes and 949 families residing in the city. The population density was 932.7 people per square cube . There were 1,424 housing units at an average density of 350.5 per square mile...
, Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
. The factory was equipped for a capacity of 10,000 motorcycles per year, and, with a few minor assembly and finishing line changes, would have had a capacity of 20,000. The company hoped to achieve full production in the fifth production year. The first calendar (not model year) production year was projected at 4,000 units which would include parts of two model years.
Production
Excelsior-Henderson introduced it first production model, the Super X, in December 1998, and commenced production in Q1 1999. It was a several month later start than the company had projected. The company established approx. 140 existing OEM dealers throughout the United States. The motorcycles averaged an MSRP around $18,500. Via the assembly line, the company produced for retail sale approx. 1900 motorcycles in various configurations; 1161 units in model year 1999, and 720 units in model year 2000. VIN number 0001315 was the last 1999 model produced, and the 2000 model year began with VIN 0001316. In total, the company produced an estimated 1950 motorcycles, which would include motorcycles produced and not designed for retail dealer sales; such as dealer promotional bikes, test prototypes and non-assembly line produced motorcycles.Market
The company received a significant amount of world wide media coverage from newsprint, television, radio, and magazine articles. The use of the internet was not yet popularized, however the company did benefit from the coverage as it was known at that time. The American motorcycle industry was robust in the 1990s and growing at double digit rates as baby boomers were exploring health and recreation alternatives. The waiting list for a popular Harley-Davidson model was up to two years, and Excelsior-Henderson positioned to capitalize on the growing market and unfulfilled demand. During this same timeframe, additional companies (OEMs and after-market custom bikes) had also decided to enter the industry, with most of them later succumbing. Noteworthy are the Indian MotorcycleIndian (motorcycle)
Indian is an American brand of motorcycles. Indian motorcycles were manufactured from 1901 to 1953 by a company in Springfield, Massachusetts, USA, initially known as the Hendee Manufacturing Company but which was renamed the Indian Manufacturing Company in 1928. The Indian factory team took the...
revivals, which invested an estimated $240 million, and the Polaris Victory
Victory Motorcycles
Victory Motorcycles is a motorcycle manufacturer based in Spirit Lake, Iowa, United States, which began production of its vehicles in 1998. Its parent company, Polaris Industries, created the firm following the modern success of Harley-Davidson...
motorcycle launch, which invested an estimated $200 million.
Reorganization
The impending financial market collapse (Y2K and dotcom boom/bust) of 1999-2000 resulted in Excelsior-Henderson having difficulty completing the next scheduled capital infusion, and became an indirect casualty of the financial marketplace. Therefore, on December 21, 1999, Excelsior-Henderson filed for a Chapter 11 reorganization. As an outcome of the process, the company was sold to a Florida investment group, which later filed for reorganization. Production of motorcycles never commenced. Today the motorcycles are highly coveted and considered as among the finest motorcycles built.There is an official Excelsior-Henderson Motorcycles website which maintains information and links about the company and motorcycles. In addition, a book was published, titled Riding The American Dream.