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| January 2006 - Boyd Coddington |
| Platinum Equity announced that it has acquired Boyd Coddington specialty wheels from NRG Motorsports, Inc.a manufacturer and international distributor of automotive aftermarket parts and accessories. Platinum also announced an executive appointment involving its flagship company in the automotive aftermarket naming Robert Swelgin as the new chief executive officer of American Racing Corporation, the industry leader in high-performance automotive wheels. The company was acquired by Platinum in July2005. In completing the transaction to acquire the Boyd Coddington business, Platinum purchased the portion of NRG that designs, manufactures and markets premium aluminum wheels and acquired a license to use their corresponding trademarks -- "Genuine Boyd Coddington Wheels," "Boyd's Wheels," and "Boyd Coddington" -- exclusively within the wheels market place. The deal also establishes a consulting agreement with Boyd Coddington, Sr. who will assist American Racing with wheel designs, sales efforts, marketing event appearances and promotions. Coddington, a nationally recognized auto enthusiast specializing in automotive restoration and customization, is the founder of NRG and host of the Discovery Channel television show "American Hot Rods." |