LOS ANGELES, Calif. — CPI Holdings, a subsidiary of Cash Technologies, has acquired certain turbocharger technology assets of Turbomotive Inc. for $1.75 million. 
CPI, which does business as Champion Parts, is a nationally known supplier of fuel system components to auto parts retailers throughout the U.S. The company will integrate the turbocharger products into its product lineup under the brand name Champion Performance. The company intends to manufacture the turbochargers in its 210,000 square foot facility in Hope, Ark., and distribute them to its retail customers, which represent more than 15,000 retail stores in the U.S. The products will also be marketed to foreign distributors and vehicle manufacturers.
The assets acquired consist of patents, purchase orders, manufacturing processes, other intellectual property and tooling. CPI also intends to hire the Turbomotive principals, including company found Robert McKeirnan, to assist in manufacturing and development.
Jerry Bragiel, president of CPI Holdings, stated, "We’re very pleased to complete this acquisition. The auto parts market performs uncommonly well in a difficult economy as people repair rather than replace their vehicles. Turbochargers have become the most important fuel efficiency products in the automotive world today. They wear out under normal use and must periodically be replaced. As the population of turbocharged vehicles past their warranty period surges in coming years, Champion will be positioned to deliver a superior replacement product through its extensive retail relationships. We believe turbo sales will exceed revenues from the company’s other product segments within a few years."
