Z Capital acquires MSD Performance Group
Hot Rod Brands, an affiliate of private equity company Z Capital, has acquired MSD Performance Group (MSDP), a provider of 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 26 November 2013. MSDP filed a voluntary Chapter 11 bankruptcy protection petition on 6 September 2013.
"MSDP is now well positioned for the future,” says Ron Turcotte, chief executive 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," says 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."
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