Saleen, Inc Sells Most Of Its Assets

Posted by on February 2, 2009 - more
saleensoldlead

After announcing it was looking for a buyer in early November, Saleen Incorporated announced today that MJ Acquistions has acquired certain assets of America’s premier automotive lifestyle brand, relating to Saleen’s supercharger, aftermarket and high performance street vehicle businesses.

The transaction reportedly was finalized last Friday, which left all of the employees (including Saleen Inc. CEO Chris Theodore) with the legal formality of being without jobs — at least temporarily. Some hirebacks have already taken place as the transition progresses.

While the terms of the deal were not disclosed, the purchase does not include the assets associated with the supercar (S7 or S5 Raptor vehicles) or the paint operations, which will remain with Saleen Incorporated.

The ownership of MJ Acquisitions controls a family of companies which provide full service engineering, design, manufacturing, assembly and control systems for the automotive industry. It’s affilitated companies include Cyltec, LLC, Power-Tec Engineering, LLC, Arrow Racing Engines, LLC, and Control-Tec, LLC.

“MJ Acquisitions and its affiliates are a group of true car professionals with vast experience in the engineering, production, assembly and distribution of performance and racing vehicles” said Theodore in a press release. “This influx of new life into the Saleen, RaceCraft and SpeedLab brands is a win-win situation.”

Theodore noted loyal Saleen customers, dealers and enthusiasts can look forward to an exciting transition period.

“We moved on this purchase quickly to ensure that the process of delivering high-quality automobiles and components to the consumers is not disrupted,” said Mike Shields, President and CEO of MJ Acquisitions. “We are working with the talented team from Saleen and our own experts to continue the quality, delivery, and performance the customer base and delalership network have come to expect from the Saleen brand. I am particularly excited about Saleen’s supercharger experience and its synergies with Power-Tec’s development of the next generation of superchargers.”

Immediate plans are to roll out the 2010 version of the newly designed Mustang for the Racecraft brand and commence other Racecraft designs for additional vehicles. The new Mustang is shipping from Ford later this month. Additionally, the Saleen brand will have a new design of the flagship S-Line that is already in the works and scheduled for release in the third quarter of 2009.

While this announcement may provide more questions than answers for some, Saleen owners should be assured that key warranty and sales staff are still at the company to serve dealers and owners, with more hirebacks likely coming in the days ahead.

MJ Acquistions does plan to work with the dealer network and others to establish the future product line. A company spokesperson said more announcements will be forthcoming, so stay tuned.


40 Comments

  1. SpectorV says:

    Saleen has been going down for quite some time, this is not really a surprise to me going by how much they charge for what little you get.

  2. SpectorV says:

    Saleen has been going down for quite some time, this is not really a surprise to me going by how much they charge for what little you get.

  3. Marcene Mega says:

    I like the efforts you have put in this, appreciate it for all the great articles.

  4. I’ve been surfing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my opinion, if all site owners and bloggers made good content as you did, the web will be a lot more useful than ever before.

  5. esurance com says:

    You actually make it appear really easy along with your presentation but I in finding this topic to be actually something which I think I would by no means understand. It seems too complex and extremely extensive for me. I’m looking ahead for your subsequent publish, I¦ll attempt to get the hang of it!

  6. Im now not positive where you’re getting your information, but good topic. I must spend some time finding out more or working out more. Thank you for magnificent information I used to be searching for this info for my mission.

  7. I consider something really special in this site.

  8. You actually make it seem so easy along with your presentation however I in finding this topic to be actually one thing which I think I’d by no means understand. It seems too complicated and very vast for me. I’m having a look ahead to your next post, I¦ll attempt to get the grasp of it!

  9. stop smoking says:

    Hello, you used to write fantastic, but the last several posts have been kinda boring… I miss your great writings. Past few posts are just a little out of track! come on!

  10. Today, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a twenty five foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone!

  11. I like this post, enjoyed this one appreciate it for posting. “The basis of optimism is sheer terror.” by Oscar Wilde.

  12. It’s really a great and useful piece of info. I’m glad that you shared this useful info with us. Please keep us up to date like this. Thank you for sharing.

  13. Attractive component to content. I simply stumbled upon your blog and in accession capital to claim that I acquire in fact enjoyed account your blog posts. Any way I will be subscribing for your feeds and even I success you get admission to constantly rapidly.

  14. Some genuinely prize posts on this web site, saved to bookmarks.

  15. wix seo hero says:

    Hello! This is my first visit to your blog! We are a collection of volunteers and starting a new project in a community in the same niche. Your blog provided us beneficial information to work on. You have done a outstanding job!

  16. seo hero says:

    I like this blog very much so much great info .

  17. I think you have observed some very interesting points, appreciate it for the post.

  18. you’ve an incredible blog right here! would you prefer to make some invite posts on my weblog?

  19. With havin so much content do you ever run into any problems of plagorism or copyright infringement? My site has a lot of unique content I’ve either created myself or outsourced but it seems a lot of it is popping it up all over the internet without my permission. Do you know any techniques to help reduce content from being ripped off? I’d certainly appreciate it.

  20. I precisely wanted to say thanks once again. I do not know the things I could possibly have implemented in the absence of the entire information revealed by you over this field. Previously it was a difficult difficulty for me personally, nevertheless encountering the well-written manner you dealt with that took me to cry for delight. Extremely thankful for this advice and thus believe you recognize what a great job you have been carrying out instructing people today by way of your webblog. More than likely you have never come across any of us.

  21. trung tam bao hanh tu lanh samsung

  22. Thank you for sharing superb informations. Your website is so cool. I’m impressed by the details that you¡¦ve on this blog. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my pal, ROCK! I found just the info I already searched everywhere and simply couldn’t come across. What a perfect web-site.

  23. Background says:

    Hi, Neat post. There’s an issue together with your site in internet explorer, may test this… IE nonetheless is the marketplace chief and a large component of folks will omit your wonderful writing because of this problem.

  24. Background says:

    Heya i am for the primary time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to offer something back and aid others like you helped me.

  25. Background says:

    It’s a shame you don’t have a donate button! I’d without a doubt donate to this fantastic blog! I suppose for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to new updates and will talk about this blog with my Facebook group. Talk soon!

  26. SEO dallas says:

    I adore assembling useful information , this post has got me even more info! .

  27. Hey, you used to write fantastic, but the last few posts have been kinda boring?K I miss your super writings. Past several posts are just a little bit out of track! come on!

  28. An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers

  29. Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.

  30. site says:

    Your place is valueble for me. Thanks!…

  31. Hi my friend! I wish to say that this article is awesome, nice written and include approximately all important infos. I’d like to see more posts like this.

  32. Wow that was odd. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say superb blog!

  33. Muchísimas gracias primo!!!No te preocupes por la inspiración. Sólo con dejar un saludo alcanza!Es verdad que por acá anda todo muy bien, recorriendo el Reino Unido poco a poco.Ya organizaremos un Skype o algo así para poder hablar mejor.Abrazo grande!!Saludos y suerte por allá también!

  34. The included studies represented 3,236 gguys (1,895 guys treatedwith testosterone, 1,341 guyys treated with placebo) whoreported 51 major adverse cardiovascular events,defined as cardiovascular death, noon fatal myocardialinfarction or stroke, and serious acute coronay syndromes orheart failure.10 This study did not find a statistically significant increased risk of thesecardiovascular events associated with testosterone therapy.

  35. Hello there! This is my 1st comment here so I just wanted to give a quick shout out and tell you I truly enjoy reading your posts. Can you recommend any other blogs/websites/forums that go over the same subjects? Appreciate it!

  36. learn more says:

    Respect to op, some wonderful information .

  37. Excellent blog here! Also your site loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my web site loaded up as quickly as yours lol

  38. Make money working online! Click the link.

  39. Make money working online! Click the link.

  40. Youtubes says:

    Make money working online! Click the link.

Leave a Reply

Your email address will not be published. Required fields are marked *