August 29, 2018
Mentor, OH – Race Winning Brands, Inc., (“Race Winning Brands”, “RWB”, or the “Company”) a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) is pleased to announce the acquisition of Dart Machinery, LTD. (“Dart”), a performance industry leader and manufacturer of high-performance engine blocks, cylinder heads and intake manifolds. Dart represents the third add-on acquisition for Race Winning Brands, and Kinderhook’s 56th automotive-related transaction. Financial terms of the transaction were not disclosed.
Dart founder Richard Maskin will continue to play a leading role within the organization as a partner and Chairman of Research & Development. Mr. Maskin founded Dart Machinery in his two-car Oak Park, Michigan garage in 1981. Richard is an icon within the racing industry stemming from his technical acumen. The 2015 Michigan Motorsports Hall of Fame inductee has earned multiple National Hot Rod Association Pro Stock world championships as an engine builder while Dart-equipped racers have dominated professional and sportsman racing for decades.
In addition to retaining the current Dart management team including Vice President Dave Tratechaud, former Dart General Manager Ted Keating returns to the organization in a new role as President.
Race Winning Brands is the leading manufacturer of high performance and racing related components sold to the automotive and powersports markets. RWB is headquartered in Mentor, Ohio and markets its products globally through a portfolio of leading brands including JE Pistons, Wiseco Performance Products, K1 Technologies, Diamond Pistons, Trend Performance, Rekluse Motor Sports and ProX Racing Parts.
“Dart is an iconic brand and a global powerhouse in high performance blocks, cylinder heads and intake manifolds,” said Brian Reese, Chief Executive Officer of Race Winning Brands. “The Dart team has built a new manufacturing center of excellence in Warren, Michigan to power the brand with leading-edge products. We plan to leverage Richard Maskin’s championship engine building expertise across RWB’s portfolio of race winning products. This strategic acquisition helps drive our mission of leading racers to victory and enthusiasts to enjoyment, while extending RWB adjacently into engine blocks, cylinder heads, and intake manifolds.”
“This move is about supporting the racers and preserving the Dart legacy,” explained Maskin. “By joining forces with Race Winning Brands and welcoming Ted Keating back, we will be accelerating new product development investments and further our focus on serving racers and engine builders. We already have several exciting new products in development. As shareholders in RWB, Dave Tratechaud and I are impressed with the RWB vision and future.”
Tom Tuttle, Managing Director of Kinderhook Industries, stated, “We are excited about Race Winning Brands adding another premium brand name to its stable of branded products and that Dart has decided to partner with the RWB and Kinderhook family. We look forward to leveraging the RWB platform to further accelerate Dart’s growth.”