IRVINE, CA -- Hancock Park Associates, the primary investor in Saleen Inc., recently completed the acquisition of assets of American Specialty Cars Incorporated (ASC). Paul Wilbur, current president and CEO of ASC, has been appointed to the role of president and CEO of Saleen, as well.

"Paul is one of the most dynamic automotive executives in the U.S. automotive industry with more than 26 years of industry experience, 21 years with OEMs and five years in the Tier 1 supply business," said Kevin Listen, a Hancock Park Associates partner. "His knowledge of the specialty vehicle business is paramount as he leads Saleen and begins to grow ASC's specialty open air and creative services businesses. We expect a lot of good things to happen under Paul's leadership."

In the near-term, both ASC and Saleen will remain as separate companies, although the long-term vision is to strategically integrate the two operations, the companies said. While each company will maintain its unique focus, both companies have common platforms as low-volume, specialty vehicle manufacturers. The combined group will be comprised of OEM, Tier 1 and aftermarket business units.

Saleen will also be supported by Chris Theodore, retired vice president of product development at Ford Motor Co., best known as the "father of the Ford GT program." Theodore will lead new product development for both companies and serve as its chief technology officer. Marques McCammon will assume the daily responsibilities at Saleen.

The teams are currently working together to launch the 2008 Saleen model line, in addition to equipping all supercharged Ford Harley-Davidson Edition F-150s with Saleen's twin-screw supercharger and painting all 2008 Dodge Vipers. The group said they are looking forward to combining its efforts to produce the next generation of Ford Mustang and F-150-derived vehicles due out within the next two years.

"The combination of Saleen's powertrain and chassis expertise, along with ASC's body engineering and design capabilities is no accident," said Wilbur. "Moving forward, both companies are excited to develop innovative products for the automotive industry. Together, the two companies will have the expertise to design, engineer and manufacture amazing new specialty vehicle products. The synergies of the two companies create a clear leader in the niche vehicle business. I am also very excited to join the talented team at Saleen," Wilbur said.

For more information about ASC, go to: http://www.ascglobal.com.

For more information about Saleen, go to: http://www.saleen.com.