Jeg’s Sold

[CMcAllister]

Well I don't know. Selling out to an equity firm has worked so well for all the racers and customers of these other iconic performance companies.

What could go wrong?

[Shadylane]

Originally Posted by CMcAllister

Well I don't know. Selling out to an equity firm has worked so well for all the racers and customers of these other iconic performance companies.

What could go wrong?

Well I can tell you about an experience I had getting my QuickTime/Holley bellhousing re-certified, not so great. Short of it all, I was told they couldn’t certify my Stocker 302, 2 barrel, 6000 rpm bellhousing to 6.1w it had to be to 6.3! This is after I sent it to them and gave them my $175. What? So send it back and I’ll find someone else to do it. They returned it to the wrong zip code, 200 miles away. After two weeks of talking and tracking it down I finally found someone who knew what he was talking about, and guess what, they really could certify it after all. Took almost a month for all this to happen and I finally got it back, re-certified.
The first time I sent it to QuickTime (pre Holley) no issues turned it around in 10 days. Oh and I asked the tech if I could get his phone extension so I didn’t have to keep calling and going through all the prompts wasting at a minimum of 15 minutes each call. Nope against company policy!
Can you tell I’m still mad about it?

[Rory McNeil]

Originally Posted by Shadylane

Well I can tell you about an experience I had getting my QuickTime/Holley bellhousing re-certified, not so great. Short of it all, I was told they couldn’t certify my Stocker 302, 2 barrel, 6000 rpm bellhousing to 6.1w it had to be to 6.3! This is after I sent it to them and gave them my $175. What? So send it back and I’ll find someone else to do it. They returned it to the wrong zip code, 200 miles away. After two weeks of talking and tracking it down I finally found someone who knew what he was talking about, and guess what, they really could certify it after all. Took almost a month for all this to happen and I finally got it back, re-certified.
The first time I sent it to QuickTime (pre Holley) no issues turned it around in 10 days. Oh and I asked the tech if I could get his phone extension so I didn’t have to keep calling and going through all the prompts wasting at a minimum of 15 minutes each call. Nope against company policy!
Can you tell I’m still mad about it?

In addition to Kelly`s fiasco, when Quicktime got bought out by Lakewood, many of Lakewoods scattershields , as well as some of Quicktimes slower movers were discontinued. The 390-428 Ford FE Lakewood has been dropped, and the Quicktime model, for some strange reason, was designed around the use of a shorter diaphragm pressure plates, so to make a Long style clutch fit (like every OE FE powered Ford car came with from the factory), requires stacking block plates to make it work. I don`t know if Tim Hyatt (RIP) ,recertified Quicktime bellhousings, but over the years, I had him recert my Lakewood and McLeod bells at his trailer at the NHRA National events. Anybody aware of any independent places that can do the recerts?

[Detroit Bob]

I don't believe anything good can come from this. The Coughlin family are racers and business people. Private equity is just money.
Art Van was a large furniture chain started in the Detroit Area 40 years ago.
The principal dies, the wife and kids sell the firm off to private equity. Which in turn loaded it with debt. 2 years later poof, liquidated. Gone!
Private equity will run over their mothers and grandmothers to make a dollar.

[340Cuda]

"The Coughlin Family, which has successfully guided the Company's expansion across three generations, said, "After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS. We've found that partner in Greenbriar, and we look forward to remaining significant shareholders alongside them."

The sky may not be falling, but only time will tell.

[Jack McCarthy]

looking at possible future enviromental lawsuit losses (they just rook a 1.8m hit) id be selling out too ....

if these lawsuits are not stopped in supreme court we are all done

[Jim Kaekel]

Originally Posted by Jack McCarthy

looking at possible future enviromental lawsuit losses (they just rook a 1.8m hit) id be selling out too ....

if these lawsuits are not stopped in supreme court we are all done

I'm not sure what the lawsuit was from, but many in this industry are caused by shipping errors, such as inadvertently sending hazardous materials by air freight. That's one way a high performance retailer can wind up in hot water.

[CMcAllister]

Originally Posted by 340Cuda

"The Coughlin Family, which has successfully guided the Company's expansion across three generations, said, "After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS. We've found that partner in Greenbriar, and we look forward to remaining significant shareholders alongside them."

The sky may not be falling, but only time will tell.

That's the same thing everyone who ever sold the family business to an equity firm has said.

Time will tell indeed.

[SDT1DYI]

The law suit by The State of California against Jegs begs the question, how many more after market resellers and manufactures are in the States cross-hairs?
The State can not get enough money from the individual who owned the car and modified it illegal, so they go after the companies that sold them the parts because they have the money. Re

Steve Teeter STK/SS 620

[AC]

Crazy times we live in! This is probably the beginning of the end for jegs! Curious if jegs came away with cash or needed the cash to stay afloat? Guaranteed the first thing the PE firm starts to cut are race sponsorships and purses, PE means one thing, SHOW ME THE MONEY!