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November 22, 2005
New Haven, CONNECTICUT – November 22, 2005 – Moroso Performance Products, based in Guilford, Connecticut, has engaged Woodbridge Inc. to conduct a national search for an automotive parts manufacturer or company with innovative ideas for the automotive aftermarket. Moroso is positioning itself for further expansion by forming a joint venture, licensing arrangement or acquiring a promising company.
Moroso Performance Products is one of the world’s most respected suppliers of automotive equipment for both racing and street vehicles. The company is looking to take its high-performance expertise downstream to average consumers. The preferred products it is seeking are those that could be applied to a passenger car, truck or motorcycle, etc. and be installed preferably by the owner.
Moroso Performance is looking for profitable, innovative ideas that have generated up to $7.5 million in annual revenue. The company is particularly interested in manufacturers of parts for passenger cars, trucks or motorcycles or exclusive distributors of specialized part categories.
Woodbridge will identify and contact well over a thousand potential acquisition targets by actively marketing Moroso to selected manufacturers and distributors across the country. Once Moroso management chooses to explore a few of these opportunities, Woodbridge dealmakers accompany and guide Moroso through the entire process of establishing a positive relationship with the seller, tendering an offer, conducting due diligence and completing the transaction.
Moroso was started in 1968 by Dick Moroso, one of the most successful modified production drag racers on record. Dick left his racing career to design, test and manufacture specialized products aimed exclusively at racer’s needs. The performance world quickly recognized that Moroso products were a cut above the others because they were designed and built for racers by a racer. As a result, Dick Moroso was responsible for many innovations in the high performance industry.
The company manufactures over 3,000 products and has an impressive list of customers, ranging from grassroots racers to top-level NASCAR Nextel Cup and other professional race teams. Based in Guilford, Connecticut, Moroso currently operates with a total of 200 employees at its Guilford headquarters and its ignition wire manufacturing facility in Philadelphia.