LPE has been sold

Discussion in 'OT Driven' started by you know me, Sep 9, 2008.

  1. you know me

    you know me OT where the douchbags play

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    Tuesday, September 9, 2008
    Renowned Lingenfelter Performance Engineering (LPE) Was Acquired by LPE Assets

    Renowned Lingenfelter Performance Engineering (LPE) Was Acquired by LPE Assets
    LPE Assets, an LLC owned by Ken Lingenfelter and an affiliate of Metropolitan Motor Sports LLC, announces today that it has acquired Lingenfelter Performance Engineering (LPE) from an unrelated third party. With this acquisition, Lingenfelter intends to continue and build on LPE's worldwide track record in performance engineering.

    Lingenfelter Performance Engineering, founded by the legendary drag racer and engine builder John Lingenfelter, is a performance tuner and specialty automotive parts supplier located in Decatur, Indiana. LPE is recognized worldwide as a premier tuner of domestic North American sports performance cars, and for ultimate quality, reliability and workmanship in products and services. LPE's work expertise includes premier engine modification packages, customized engine rebuilds and related performance engineering shop work.

    Over the past several months, Ken Lingenfelter, who is also the owner of the Lingenfelter Collection - a collection of Corvettes, muscle and exotic cars - reviewed various ways to maximize the corporate value and growth opportunities of LPE, and comments: "This acquisition is the culmination of a diligent and thoughtful process and I believe it is in the best interest of Lingenfelter Performance Engineering. I am confident that our innovative products, talented employees and worldwide customer base will be key contributors to the future success of LPE."

    Lingenfelter Performance Engineering was founded over 30 years ago and is a globally recognized brand in the performance engineering industry. The company offers engine building, engine and chassis tuning components and installation for vehicle owners; component product development; services to manufacturers, aftermarket and original equipment suppliers; prototype and preparation of product development vehicles; late product life-cycle performance improvements; durability testing; and show and media event vehicles. (Visit www.lingenfelter.com for detailed company and product information.) LPE was most recently owned by shareholders in Indiana and Tennessee.

    http://lingenfelternews.blogspot.com/

    I miss John :wtc:
     
  2. Corz

    Corz ha ha! snikt

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    john would have never sold it
     
  3. you know me

    you know me OT where the douchbags play

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    from what I've heard he hated the fact that there were investors in the company. LPE hasn't been the same since john died
     
  4. SilverTurtle

    SilverTurtle New Member

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    :werd:
     
  5. jeff2577

    jeff2577 OT OG

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    Tom Cress had to have financial backing. Otherwise he never ever would have been able to buy it.

    Last I heard they were hurting for money. Few guys I know who had done long term projects with them had LPE demanding for cash as soon as the car was done...... not when it was picked up like it used to be in the past.
     
  6. MeanGreen

    MeanGreen New Member

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    anybody hear that Wheel to Wheel closed down as well?

    Apparently they were assisted greatly by GM and they pulled the plug on funding
     
  7. deusexaethera

    deusexaethera OT Supporter

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    Wait, what? Ken Lingenfelter bought back a family company using another company he owns? What's the scandal there?
     
  8. you know me

    you know me OT where the douchbags play

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    from another board:


    FWIW, Ken Lingenfelter is not related to John Lingenfelter. It is just a coincidence that the last names are the same. Ken is a car guy with money and the same last names were what got him interested in LPE.

    Although Corvette Quarterly says that Ken is distantly related to John, is is not like family.
     
  9. deusexaethera

    deusexaethera OT Supporter

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    Wow, that's a hell of a coincidence. I could see two dudes named Smith or Johnson, but Lingenfelter?
     
  10. 396Hawk

    396Hawk Active Member

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    It's not a coincidence. He wanted the company because his last name was Lingenfelter.
     
  11. Shu

    Shu OT Supporter

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    I thought W2W was doing well?
     
  12. deusexaethera

    deusexaethera OT Supporter

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    No, I mean it's a hell of a coincidence that there were two business owners in the US named Lingenfelter, and that the one just happened to have the cash on-hand to buy the other's company.
     
  13. MeanGreen

    MeanGreen New Member

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    Friend told me that they were with the help of GM. They were a pretty big outfit and apparently when they lost their backing they didn't have the consistent bussiness need to keep it running.
     
  14. Shu

    Shu OT Supporter

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    I knew they did some development stuff for GM, but that sucks :hs:
     

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