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  #1  
Old 09-06-2013, 08:12 AM
keith944 keith944 is offline
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Default MSD declares bankruptcy

Filed w/ Richards LLC in Wilmington DE. 9/6/13.
you guys have any comments?
is the company just planning on selling?
I understand this also Inc. Edge, Superchips, autotronics controls. and several other affiliates.
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  #2  
Old 09-06-2013, 11:34 AM
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msdtech1955 msdtech1955 is online now
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i assure you ....it business as usual...

MSD PERFORMANCE INITIATES VOLUNTARY CHAPTER 11 PROCESS TO COMPLETE
AN ORDERLY SALE
Lenders' Consent To Company's Use Of Cash Collateral Ensures Operations Continue As Usual
With the Highest Quality and Outstanding Service
_______________________
EL Paso, Texas, September 6, 2013 – MSD Performance, Inc. today announced that to address liquidity
needs and facilitate a restructuring, the company and its U.S. subsidiaries have filed voluntary petitions
in the United States Bankruptcy Court for the District of Delaware under Chapter 11 of the
U.S. Bankruptcy Code. The filing does not include the company's non-U.S. entities.
MSDP has determined that the best way to preserve value for its stakeholders is through an orderly sale
of substantially all of its assets. To ensure the most efficient sales process possible and to optimize the
potential results for all parties, the Company has decided to execute this sale process under the
protection of the U.S. Bankruptcy Code.
Through the Chapter 11 filing, MSDP seeks to preserve continuity, to the greatest extent possible, for its
customers, employees and business partners while it continues discussions with potential buyers to
secure the highest and best outcome for its businesses.
"As an industry leader in the performance ignition systems market for over 40 years, MSDP brings
significant value to customers, suppliers and potential buyers based on our long-standing customer
relationships, robust product offering and proven focus on quality performance," said Ron Turcotte,
Chairman and CEO. "Selling operations on a going concern basis in an orderly sale through Chapter 11
is the best way to preserve as many jobs as possible, best serve our customers and will allow our
operations to emerge from bankruptcy in a relatively short time frame," said Turcotte. "The operations
we are selling have strong product portfolios, advanced technologies and continue to perform well
operationally."
Under the bankruptcy sale process, the proposed transaction is subject to the execution of a definitive
asset purchase agreement, court approval and other customary conditions. Interested parties will have
an opportunity to submit higher or better offers for MSDP's assets.
The Company restructured its debt in 2009 following the financial downturn as well as a series of
acquisitions by prior management, which burdened it with excessive debt. Since that time, the Company
has reduced operating costs, introduced award-winning products and accelerated marketing initiatives.
The decision to file under Chapter 11 is necessary to facilitate this transaction, which positions MSDP to
take advantage of emerging growth opportunities.
To fund its continuing operations MSDP has received the consent of the lenders under its existing
secured credit facility to use the Company's cash collateral. Subject to Court approval, the Company's
cash collateral will be used for the company's normal working capital requirements.
Employees will continue to be paid as usual, including their healthcare and other benefits and no layoffs
or facility closings are anticipated. Customers will receive their orders as usual and the Company
anticipates that there will be no changes in warranties or other customer programs Additionally,
suppliers will be paid for goods and services after the filing date in accordance with existing terms and
contracts.
MSDP's restructuring counsel is Jones Day. Its investment banker is SSG Advisors, LLC. MSDP is
also represented by Richards Layton and Finger, as local counsel.
About MSDP
About MSD Performance, Inc.
MSD Performance, Inc., headquartered in El Paso, Texas, operates in the power sports enthusiast and
professional racer markets where they maintain leading market share positions across all of their product
categories under the MSD Ignition®, Racepak® and Powerteq® brands. You can shop our products
online at www.msdignition.com, www.powerteq.com and www.racepak.com, or visit one of our many
automotive and performance distributors across the country
# # #
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Old 09-26-2013, 12:00 PM
Brit01 Brit01 is offline
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Not sure if this is linked but there are a lot of new MSD products for sale on ebay at lower prices!!
Where did they get hold of these MSD products in bulk?
No guarantees with these MSD units!

Quote:
PLEASE BE ADVISED THAT WE ARE LIQUIDATORS OFFERING PRODUCTS IN AN AUCTION SETTING AT A SUBSTANTIAL DISCOUNT OFF RETAIL. WE ARE NOT A DEALER OF ANY ITEMS WE SELL. WE DO NOT OFFER PARTS OR SERVICE. NO WARRANTIES ARE OFFERED, EXPRESSED OR IMPLIED. PLEASE CONTACT THE MANUFACTURER REGARDING THE VALIDITY OF ANY MANUFACTURER’S WARRANTY FOR THE PRODUCT YOU ARE BUYING.
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Old 09-26-2013, 02:37 PM
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msdtech1955 msdtech1955 is online now
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they are knock off--- "lots" of customers have been getting zapped by them ..
calling and emailing links ....buy the dozens...click the link below

http://www.msdignition.com/forum/showthread.php?t=19790
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Last edited by msdtech1955; 09-26-2013 at 02:39 PM.
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Old 09-26-2013, 02:46 PM
Brit01 Brit01 is offline
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Quote:
Originally Posted by msdtech1955 View Post
they are knock off--- "lots" of customers have been getting zapped by them ..
calling and emailing links ....buy the dozens...click the link below

http://www.msdignition.com/forum/showthread.php?t=19790
good to know

thanks

How are they still operating? Must be many claims through paypal also.
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  #6  
Old 09-27-2013, 09:30 AM
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msdtech1955 msdtech1955 is online now
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here is a pic of the inside of one a customer sent me last week!

fake6al.jpg

procomp.JPG
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