INDIANAPOLIS RACING EXECUTIVES PURCHASE MENARD ENGINE GROUP Owners of Indianapolis-based companies Indy Parts, Indy Racing Experience and Experiential Marketing Incorporated partner with IZOD IndyCar Series veteran driver Davey Hamilton on new...
INDIANAPOLIS RACING EXECUTIVES PURCHASE MENARD ENGINE GROUP
Owners of Indianapolis-based companies Indy Parts, Indy Racing Experience and Experiential Marketing Incorporated partner with IZOD IndyCar Series veteran driver Davey Hamilton on new venture
INDIANAPOLIS - Four widely-respected members of the Indianapolis and open-wheel racing communities announced today its purchase of Indianapolis-based Menard Engine Group (MEG). IZOD IndyCar Series veteran driver Davey Hamilton will lead a group comprised of Scott Jasek, Joe Kennedy and Jeff Sinden - the three owners of Indy Parts, the Indy Racing Experience and Experiential Marketing Incorporated - in the acquisition of MEG.
Hamilton will oversee all aspects of the new venture, including staffing, operations and branding.
"This is an exciting time for Scott, Jeff, Joe and myself as we expand our interests in the racing industry," Hamilton said. "While my time in the cockpit is limited, this opportunity gives me the ability to maintain and strengthen my relationships within the racing community. MEG will be a separate entity and will be run as such, but there is no doubt its products and advancements will help provide technical and operational assistance to our ownership's current interests."
MEG, which was founded by entrepreneur and racing enthusiast John Menard, has a long history of providing engineering solutions to teams and manufacturers competing in the motorsports industry. It has produced and maintained high-performance engines over the years and developed several engine control systems and electronic components of the highest quality. MEG has found recent success with its MEG801 Data Acquisition System that uses fiber optic technology and the versatile MEG Programmable Strain Gauge Amplifiers. The use of these products and technologies is not limited within the motorsports community but has widespread industrial, transportation, military and medical applications.
Terms of the deal, effective immediately, were not disclosed.