CHARLEVOIX, Mich. Advanced Clean Air Technologies Global (ACAT)
, manufacturer of lightweight catalytic converter substrates, has made a significant investment in Oliver Racing Parts
, a Grand Rapids, Mich.-based manufacturer of high-performance connecting rods.
According to ACAT Global, the first phase of its investment in the company 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, Oliver’s founder. “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 manufacturers."
The second phase of ACAT’s investment is expected to occur over the next six-to-12 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.
Oliver Racing Parts, which celebrates its 30th anniversary in 2013, manufactures connecting rods made from aircraft-quality steel for motorsports applications. Oliver Racing Parts feature the exclusive Parabolic Beam connecting rods, which offer the highest strength-to-weight ratio of any connecting rod on the market and deliver consistent performance in a wide variety of racing applications, from late models, offshore boats, Baja, Bonneville land speed racing, monster trucks, sprint cars and more.