Prestolite Performance Announces the Acquisition of QuickTime Inc.

CLEVELAND, July 27 /PRNewswire/ -- Prestolite Performance, a performance auto parts manufacturer of brands including Lakewood, Mr. Gasket, Hays, ACCEL, and Mallory has acquired the business of QuickTime, Inc., a leading manufacturer of lightweight bellhousings and racing accessories.

"With the combination of QuickTime and Lakewood, Prestolite Performance offers the broadest line of bellhousing applications ranging from traditional formed steel models to the latest in innovative and lightweight bellhousings for the hard core racer," said Eric Scheinerman, CEO of Prestolite Performance. "QuickTime's contributions will solidify our position as the industry leader and pioneer in the bellhousing market, as we continue to offer products and solutions not found elsewhere."

Scheinerman continues, "Strategic acquisitions are an important part of our growth strategy.  We are excited about the opportunity to bring QuickTime into the fold and deepen our commitment to the racing community."

Ross McCombs, QuickTime's current president and CEO, will join the Prestolite Performance team and be an integral part of driving new product innovation for all specialty products.

QuickTime's manufacturing and research and development will continue to be based in its current headquarters of Oskaloosa, Iowa, while sales, service and administration will integrate and transfer to Prestolite Performance's Cleveland headquarters by year's end. "It is business as usual for our QuickTime customers," said McCombs. "This will be a seamless transition in which our customers can rely on the same level of service that they have come to expect from us.  I am also delighted that QuickTime customers will gain access to all of the Prestolite Performance high-performance brands."  

About QuickTime

QuickTime Inc. has been developing innovative products to support racers since 1999.  Through a focus on quality products and great service, QuickTime has become a leading supplier of lightweight bellhousings and flexplates to the racing industry.

About Prestolite Performance

Prestolite Performance is a leading designer, manufacturer and distributor of auto racing, performance and appearance products. Prestolite Performance markets its products under well-recognized and respected brands including:

• Mr. Gasket - A legendary name in performance auto parts, Mr. Gasket provides a variety of racing products including engine components, Ultra-Seal gaskets, fasteners, fuel accessories, suspension and drive train components, chrome-plated accessories, and accessories for cooling systems and more.
• ACCEL - A line of high performance ignition systems and components including digital fuel injection systems, fuel injectors, coils, distributors, caps, rotors, ignition wires and spark plugs.
• Hays - Known for performance clutches and flywheels, Hays offers a wide range of high-performance clutches for street and track racing and designs specialty clutches for drag racing and tractor-pulling applications.
• Lakewood – Safety and suspension products including SFI approved bellhousings and various racing products.
• Mallory - A premium brand targeting enthusiasts and hard-core racers, the line includes distributors, magnetos, ignition boxes, coils, fuel pumps, regulators and starters.
• Mallory Marine - A leading brand of aftermarket engine parts for marine applications.
• Prestolite ProConnect - Premium ignition wire sets, coil-on-plug, and batter cable for the replacement market.

SOURCE Prestolite Performance