Superchips parent company gets acquired
December 26, 2013
Filed under News
Z Capital Partners, L.L.C. ("Z Capital"), a leading private equity firm that makes controlling investments in companies in need of revitalization or restructuring, announced that Hot Rod Brands LLC, an affiliate of Z Capital has acquired MSD Performance Group ("MSDP"), one of the world leaders in vehicle aftermarket performance parts.
MSDP sells products under the MSD, Racepak, Powerteq, Edge and Superchips brands. The transaction is scheduled to close this week.
The acquisition was part of a Section 363 Bankruptcy auction and was approved on November 26, 2013. MSDP filed a voluntary Chapter 11 bankruptcy protection petition on September 6, 2013.
"MSDP is now well positioned for the future," said Ron Turcotte, CEO of MSDP. "In recent years, we have expanded our portfolio of products and technology, and the Z Capital acquisition will allow for an even greater ability to serve our customers with new, innovative product offerings. With a restructured balance sheet, major reduction in debt and an engaged owner, MSDP is poised for positive internal growth as well as growth through focused acquisitions."
"We are excited to complete this acquisition," said James J. Zenni, President and Chief Executive Officer of Z Capital. "As an industry leader in the automotive performance aftermarket for over 40 years, we believe that MSDP is well positioned for future success. We are committed to supporting MSDP's strategy and remain as dedicated as ever to enhancing the business. We look forward to working with the talented MSDP leadership team to expand into new markets, introduce new products, and propel MSDP's path of future growth."
MSD Performance, Inc., headquartered in El Paso, Texas, operates in the street enthusiast, professional racer and powersports markets where they maintain industry leading market share positions across all of their product categories under the MSD, Racepak, Superchips and Edge brands.