Scepter Holdings Inc. has entered into an MOU to merge or acquire IP Motor Sports Inc., a high-tech engine modification company that sells high-powered engines and automobiles.
The acquisition is the first of many, the company says, as it sets up initiatives to expand fuel efficiency and optimization in the automotive sector.
Scepter Holdings is an asset acquisition company focusing on vertical uses in the energy sector. The company sees the acquisition of IP Motor Sports Inc. as key step to expanding its asset base. IP Motor Sports sells and distributes aftermarket engines and kits for high-performance cars domestically. IP Motor Sports has an exclusive right to the technology developed by Insane Power LLC, a Nevada LLC, which holds multiple world records for engine performance, both in the automotive and nautical markets.
