Motorsports Brands - ACAT Global Buys Stake In Oliver Racing Parts
CHARLEVOIX, Jan. 23, 2013: Advanced Clean Air Technologies Global (ACAT), manufacturers of lightweight catalytic converter substrates, has made a significant investment in Oliver Racing Parts (formerly Oliver Connecting Rods), the Grand Rapids, Mich. – based manufacturer of high-performance connecting rods.
The first phase of ACAT’s investment has cleaned up Oliver’s balance sheet, eliminating all debt. A second phase of investment will include equipment upgrades and adding key personnel to the company, according to ACAT CEO Joseph A. Moch.“Oliver Racing Parts complements ACAT nicely,” said Moch. “Both companies are dedicated to manufacturing well-engineered, high-quality performance products for original equipment and aftermarket use, and both are made in the U.S.A. It’s a great fit.”
“ACAT’s investment will keep our company moving forward,” said Bruce Baldwin, founder of Oliver Connecting Rods., “This enables us to build up inventories and ensure product availability, our product line will expand to cover the growing market for premium high-performance connecting rods, and Oliver will have the resources to solidify our position as one of the world’s best connecting rod manufacturer.
The second phase of ACAT’s investment is expected to occur over the next six to twelve months, bringing machinery and new equipment upgrades to convert Oliver’s operation into a state-of-the-art manufacturing facility. Plans also call for Oliver to hire four to eight additional full-time employees and expand the company’s product line of high-performance connecting rods.