MSD Acquired By Hot Rod Brands LLC – Read It Here!
In the ever changing world of the automotive aftermarket, companies are being bought, sold and created everyday. Recently, there was an announcement that MSD Performance has been acquired as part of their Chapter 11 bankruptcy filing. This is an exciting announcement for all of you who love the MSD brands and their products.
Why? Because it means, MSD, Racepak, Edge and Superchips will be rolling out a ton of new products as Hot Rod Brands invests into MSD to grow the future of the brand. We here at Power Automedia are quite excited to see what new products they will be rolling out for 2014, and what’s in store.
Read the official release below:
MSD Performance Group (“MSDP”), one of the world leaders in vehicle aftermarket performance parts, announced today that the company has been acquired by Hot Rod Brands, LLC an affiliate of Z Capital Partners, LLC (“Z Capital”). MSDP sells products under the MSD, Racepak, Powerteq, Edge and Superchips brands. MSDP filed a voluntary Chapter 11 bankruptcy protection petition on September 6th of this year.
Z Capital is a private equity firm with approximately $1.2 billion of regulatory assets and committed capital with offices in Lake Forest, Illinois and New York, New York. The firm specializes in investing in companies with a strong product line and top tier brand recognition. The group leverages its operational expertise in actively working with the management teams of their portfolio companies to enhance enterprise value.
“We are excited to add MSDP to the Z Capital portfolio of companies and believe it to be a terrific growth platform. We will work with the management team to continue to be a market leader and deliver cutting edge products to our loyal customer base. MSDP represents substantial brands within the performance segment and we look forward to further solidifying and growing that brand recognition,” said James J. Zenni, President and Chief Executive Officer of Z Capital.
MSD Performance looks forward to the future as the combination of a stronger balance sheet and focused ownership will allow for an even greater ability to serve consumers with exciting new products and technology. In recent years MSD Performance has expanded its portfolio of products and technology including the award-winning Atomic brand Fuel Injection systems, Flashcal brand Jeep handheld programmer, Vigilante brand Harley tuning products and this year’s SEMA Show introduction of Brainwave®, the new Vehicle Management Network that allows aftermarket components to utilize a common technology platform for complete vehicle communication.
Ron Turcotte, MSDP’s CEO, said “Our restructuring allows us to be positioned for substantial growth through an even greater ability to serve our customers with new, innovative product offerings and a higher level of customer service.” Over the last few years MSD Performance Group has been the Innovation Leader in game-changing technology for the aftermarket. SEMA supported this belief with the recognition of Todd Petersen -MSDP Chief Innovation Officer- as this year’s recipient of the Gen-III Innovation award.