Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

 

Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

 

Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

 

Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

 

Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

 

Platinum Equity announced that it has acquired a majority interest in Keystone Automotive Holdings Inc., the parent company of Keystone Automotive Operations Inc. ("Keystone"). Platinum reports that it will work with the company's management team on an operational plan to improve Keystone's ability to compete in the automotive specialty-equipment market.

Platinum was previously Keystone's largest bond holder and worked closely with Keystone and the company's other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majority owner of the business.

Platinum achieved its majority ownership position through an exchange offer that closed on March 29, 2011, in which Platinum and other bond holders converted debt to equity and acquired additional common stock through a rights offering.

"Keystone has a strong management team, dedicated employees and an unparalleled distribution network," said Jacob Kotzubei, partner, Platinum Equity, who led the team pursuing the Keystone acquisition. "With a restructured balance sheet, ample liquidity and the added support of Platinum's operations team and M&A resources, Keystone is now well positioned for growth and long-term success."

Ed Orzetti, Keystone CEO since 2006, will continue to lead the company under Platinum Equity's ownership.

"Partnering with Platinum Equity and successfully recapitalizing our business is great news for Keystone's customers, suppliers and employees," said Orzetti. "We will continue to offer the most comprehensive inventory selection in our industry, the highest levels of customer service and the innovative marketing support our partners expect and deserve."

Platinum has already deployed a team to work with Keystone on a plan to improve overall business performance. Kotzubei said that Platinum's M&A resources will actively support Keystone going forward as well.

"We will work closely with Keystone to identify and pursue opportunities to grow the business organically and through additional acquisitions," said Kotzubei.

The 2011 JE Pistons NMRA/NMCA West Coast Shootout presented by Lucas Oil—July 8–10, at Auto Club Speedway in Fontana, California—will feature the Racers Against Street Racing (RASR) True Street Challenge.

Known as one of the NMRA and NMCA's most popular classes, True Street takes street-legal (registered and insured) musclecars and rods on a 15–20-mile escorted cruise, then sends the vehicles down the strip for three back-to-back passes. A six-foot trophy, cash and prizes will go to the overall quickest winner, and cash and awards will also be presented to seven additional winners for the closest (without going over) three-pass averages to nine, 10, 11, 12, 13, 14 and 15 seconds. There will also be cash awards and bonus manufacturer prizes provided to the number 2 and number 3 racers in each of the eight categories. Magazine editors from more than 20 publications as well as many NMRA and NMCA sponsors will be joining True Street racers at this event in support of RASR. 

TREMEC, Muscle Mustangs & Fast Fords and Nitto Tire have teamed up to present the RASR True Street Challenge and provide extensive class coverage and more than $10,000 in bonus prizes to True Street racers at the West Coast Shootout. The True Street class supports RASR's mission of promoting safe and legal alternatives to illegal street racing on a national level and its message: "If you want to race, go to the racetrack!" 

More information about the NMRA/NMCA West Coast Shootout event and RASR True Street Challenge class are available on NMCA's website, www.nmcadigital.com/CA.

The 2011 JE Pistons NMRA/NMCA West Coast Shootout presented by Lucas Oil—July 8–10, at Auto Club Speedway in Fontana, California—will feature the Racers Against Street Racing (RASR) True Street Challenge.

Known as one of the NMRA and NMCA's most popular classes, True Street takes street-legal (registered and insured) musclecars and rods on a 15–20-mile escorted cruise, then sends the vehicles down the strip for three back-to-back passes. A six-foot trophy, cash and prizes will go to the overall quickest winner, and cash and awards will also be presented to seven additional winners for the closest (without going over) three-pass averages to nine, 10, 11, 12, 13, 14 and 15 seconds. There will also be cash awards and bonus manufacturer prizes provided to the number 2 and number 3 racers in each of the eight categories. Magazine editors from more than 20 publications as well as many NMRA and NMCA sponsors will be joining True Street racers at this event in support of RASR. 

TREMEC, Muscle Mustangs & Fast Fords and Nitto Tire have teamed up to present the RASR True Street Challenge and provide extensive class coverage and more than $10,000 in bonus prizes to True Street racers at the West Coast Shootout. The True Street class supports RASR's mission of promoting safe and legal alternatives to illegal street racing on a national level and its message: "If you want to race, go to the racetrack!" 

More information about the NMRA/NMCA West Coast Shootout event and RASR True Street Challenge class are available on NMCA's website, www.nmcadigital.com/CA.

The 2011 JE Pistons NMRA/NMCA West Coast Shootout presented by Lucas Oil—July 8–10, at Auto Club Speedway in Fontana, California—will feature the Racers Against Street Racing (RASR) True Street Challenge.

Known as one of the NMRA and NMCA's most popular classes, True Street takes street-legal (registered and insured) musclecars and rods on a 15–20-mile escorted cruise, then sends the vehicles down the strip for three back-to-back passes. A six-foot trophy, cash and prizes will go to the overall quickest winner, and cash and awards will also be presented to seven additional winners for the closest (without going over) three-pass averages to nine, 10, 11, 12, 13, 14 and 15 seconds. There will also be cash awards and bonus manufacturer prizes provided to the number 2 and number 3 racers in each of the eight categories. Magazine editors from more than 20 publications as well as many NMRA and NMCA sponsors will be joining True Street racers at this event in support of RASR. 

TREMEC, Muscle Mustangs & Fast Fords and Nitto Tire have teamed up to present the RASR True Street Challenge and provide extensive class coverage and more than $10,000 in bonus prizes to True Street racers at the West Coast Shootout. The True Street class supports RASR's mission of promoting safe and legal alternatives to illegal street racing on a national level and its message: "If you want to race, go to the racetrack!" 

More information about the NMRA/NMCA West Coast Shootout event and RASR True Street Challenge class are available on NMCA's website, www.nmcadigital.com/CA.

 

	There are currently more than 100 GENIVI-member companies.

SEMA’s continual quest to keep its members aware of significant new trends and activities in the automotive world increasingly means delving into new technical areas. As automobiles become more complexly populated with electronic devices, the OEMs and their suppliers have sought to standardize the interfaces among the hosts of products they offer and support. Knowledge of these industry standards can give a SEMA member ready access to a vehicle’s electronic “nerve system” for application of their aftermarket offerings when that vehicle is introduced to the public. If your company offers infotainment or infotainment-related products (including telematics), one initiative you should be aware of is GENIVI.

The GENIVI (pronounced gen-ee-vee) Alliance was officially launched in March 2009, heralding a new era of cooperation among automakers, suppliers and technology providers in the interest of streamlining the development and support of In-Vehicle Infotainment (IVI) products and services.

IVI is a rapidly growing and evolving field that encompasses automotive infotainment products and services, including music, news, Internet and multimedia, navigation and location, and telephony. Automobile manufacturers and their suppliers must develop, test, deploy and support these IVI products and services across multiple automobile models and generations, which is becoming increasingly complex and expensive as the rate of innovation and number of applications continues to expand exponentially.

GENIVI is developing a reusable, open-source IVI platform. Founding members include BMW Group, Wind River, Intel, GM, PSA, Delphi, Magneti-Marelli and Visteon.

“GENIVI allows its members to share the risk of accelerated innovation by providing IVI software that the members improve with each generation of product,” says Joel Hoffmann, GENIVI Board of Directors member and Intel automotive business strategist. “By aligning the industry to a common set of standards, not only can money be saved, but also new applications can be built on top that are appealing to the customer and, thus, increase car sales.”

GENIVI’s mission is to drive the broad adoption of an open-source development platform by aligning automotive OEM requirements and delivering specifications, reference implementations and certification programs that form a consistent basis for further open-source and ISV development.

SEMA believes that GENIVI’s activities are something its members offering IVI products should be keenly aware of. To find out more about GENIVI, visit their website www.genivi.org.

If you are interested in SEMA presenting a webinar about GENIVI and how it could impact your product offerings and new business opportunities, please send an e-mail to editors@sema.org with "SEMA Vehicle Technology" in the subject line.

Strategic Initiatives:

• Accelerate the development and implementation of the fully connected vehicle for infotainment applications.
• Deliver a platform consisting of standardized middleware, application layer interfaces and frameworks.
• Extend open-source community innovations to support the automotive domain.
• Engage developers to deliver compliant implementations.
• Sponsor technical, marketing and compliance programs.

Benefits Delivered by the GENIVI Platform:

• Speeds time-to-market.
• Accelerates the pace at which new and compelling automotive applications are developed.
• Dramatically reduces development costs.
• Provides code transparency.
• Broadens options for integrating and customizing solutions.
• Increases IVI interchangeability across vehicle makes and models.
• Grows the entire IVI ecosystem.