FOR IMMEDIATE RELEASE
K-PAX Performance Cars Announces That It Is Being Acquired by Elevate
Sonoma, California. (January 31, 2017) – K-PAX Performance Cars (legal name GT Performance Systems) is today announcing that it’s performance parts business is being acquired in its entirety by Elevate Cars (formerly EVOLVE) of Duarte, California.
Elevate will assume full control of the business including the relationship with all Authorized K-PAX Racing Retailers, supplier contracts, inventory and personnel. K-PAX Racing (a separate legal entity) will retain the rights to the name K-PAX Performance Cars and all references relating to the name K-PAX and K-PAX Racing.
The acquisition will not affect the operations of the K-PAX Racing team as it will continue to campaign it’s McLaren race cars in the Pirelli World Challenge for the 2017 season.
“Elevate Cars is a great fit to take over K-PAX Performance Cars as we are both engaged in developing and manufacturing performance parts for Volvo’s, not just reselling parts as most Volvo ‘tuners’ do. The understanding of the rigors of what it takes to develop high-quality reliable parts that genuinely improve performance is a common bond we share” comments Peter J Nielsen, Co-Founder and President of K-PAX Performance Cars.
President & CEO of Elevate, Don Nicholson continues, “When K-PAX Performance entered the market in 2011 with their special edition C30 GT, we already knew them well from their championship-winning Volvo S60 R that they campaigned in the GT class of the Pirelli World Challenge. They definitely helped transform the aftermarket for Volvo’s as they brought in many of their racing partners to help them develop products for the road. We are very proud to be able to continue these relationships and offering the absolute best products to Volvo performance enthusiast from around the world. We have enjoyed a friendly competitive relationship for many years, and have always had respect for the business model and products that K-PAX Performance has created. This acquisition nicely complements the current Elevate product offerings, adding several key products for the newest Volvo models”.
K-PAX Performance Cars was co-founded by Peter J Nielsen and James Haughey in 2011 in a unique agreement where the company would offer performance products through select Volvo retailers in North America. The objective was to bring their extensive racing knowledge and craft directly to the customer in the dealership. This was further bolstered by bringing in their world-class racing partners such as BBS, Brembo, Race Technologies, Eibach, Borla and Pirelli.
Since 2011, K-PAX Performance Cars developed the limited edition Volvo C30 GT as well as the special edition Volvo S60 GT6, Volvo S60 GT5 and most recently the V60 GT6. All the vehicles received amazing praise for balancing their everyday usability in combination with their enhanced performance and driving pleasure.
For next year, James Haughey will be focusing all his time and energy on K-PAX Racing and defending the 2016 World Challenge Drivers, Team and Manufacturers Championship that K-PAX Racing won in partnership with McLaren GT.
Peter J Nielsen will be joining the team at Wheelwell in San Francisco, California. Wheelwell is a uniquely visual online platform for the automotive parts and services market. The platform provide enthusiasts a place to catalog, discuss, and share their automotive projects and builds. Wheelwell’s cutting-edge technology and massive parts database allows them to connect their members to manufacturers and retailers that have the perfect-fit part at the right price for their specific ride. For more information or to upload your Volvo or any other performance ride to share with your friends please visit www.wheelwell.com
Any customer service issues, technical support, or warranty issues can be addressed by your nearest Authorized K-PAX Racing Retailer (soon to be Authorized GT Performance/Elevate Retailer), as they will continue operations as normal. Any other inquiries in regards to sales can be addressed to Elevate Cars.
Any questions regarding the acquisition can be directed to Elevate Cars. www.elevatecars.com