CHICAGO — MSD Ingnition, a manufacturer of products for the high performance segment of the aftermarket, has been bought out by Gryphon Investors, a private equity firm based in San Francisco, Calif.
Gryphon Investors purchased 100 percent ownership of El Paso, Texas-based Autotronic Controls Corp. and its MSD Ignition brand on April 8.
MSD Ignition’s products are sold through major automotive retailers, distributors and speed shops throughout the U.S., as well as through distributors in various international markets. According to the new buyers, MSD Ignition will continue to provide its products through its established retail and distribution channels. The company will also continue to develop and introduce new products that meet the company’s highest standards in quality and innovation, the firm said.
MSD Ignition’s former owners, Jack and Sharon Priegel, said they decided to sell the company in order to retire.
The corporate finance consulting practice of Blackman Kallick Bartelstein, LLC of Chicago, assisted with the deal.
Click here to view the rest of today’s headlines.