C&R Racing AcquiredPosted: Updated:
An Australian racing industry cooling systems company has acquired a Hoosier manufacturer. PWR Group's deal for Indianapolis-based C&R Racing Inc. will create what company owners say is the largest business of-its-kind in the world. March 30, 2015
QUEENSLAND, Australia and INDIANAPOLIS - The world leading cooling solutions company PWR Group, based in Queensland, Australia, has purchased North American manufacturer, C&R Racing, Inc.
PWR is the leading supplier of motorsports cooling systems for premier race series around the world including Formula 1, WEC, WRC, DTM, NASCAR, and Indy Car. PWR is an OE manufacturer for Porsche and Aston Martin, as well as a top tier global supplier for the high performance automotive aftermarket.
C&R Racing, Inc. was founded by Chris Paulsen, former IndyCar Series chief mechanic, in December 1988 in Indianapolis, Indiana. C&R is the leading manufacturer of cooling systems, specialized chassis components, and drive-train packages for professional motorsports in the USA. The C&R brand has dominated the NASCAR series for the past 24 years. In addition to racing, C&R has moved into the high performance aftermarket with its top of the line cooling systems.
PWR co-owner Kees Weel said "We have supplied C&R with PWR product for a number of years. We see this acquisition as bringing together 2 like-minded, dominant businesses to create a much larger footprint in the USA. The opportunities available to the combined PWR/C&R group in USA are significant."
C&R owner Chris Paulsen: "We have watched PWR rapidly grow into the premier performance cooling system manufacturing company in the world. Their World Class engineering and incredible flexibility is unlike any company we’ve ever done business with. Joining our two companies will create the most powerful, high performance cooling system company in the world."
PWR will utilize the well-established C&R brand for its USA operations while retaining the PWR brand throughout the rest of the world. Chris Paulsen will become President of the rebranded C&R Racing, Inc.
PWR co-owner Paul Weel noted "C&R run a first class business and bring another dimension to PWR through their fabrication and machining capabilities, plus their access to USA automotive markets. It really is a case of one plus one equals three."
Sources: PWR Group and C&R Racing Inc.