Viking Mergers & Acquisitions recently represented the owner of Woodward Machine Corporation in its sale to Heintz Performance Inc., a motorsports and performance retailer headquartered in Concord, North Carolina, according to a press release from Viking Mergers & Acquisitions.
Woodward Machine’s Motorsports Steering Legacy
Founded in 1978, Woodward Machine Corporation designs and custom-builds precision power steering racks, steering components and suspension links exclusively for motorsports and racing applications. The company is the exclusive steering supplier to the NASCAR Cup Series and has supplied NASCAR-approved safety steering columns and quick-release hubs since 1995.
Woodward’s highly customizable steering systems use the company’s proprietary Woodward servovalve system, contain no original equipment manufacturer internals and are manufactured entirely in-house.
“I am extremely proud of what Gloria and I have built over the years and, more importantly, of the people and customers who have been part of the Woodward Machine story,” said Tony Woodward. “We are grateful for the many relationships we have developed throughout the racing and performance communities over the years.”
A 30-Year Industry Partnership
The transaction builds on a 30-year relationship between Woodward Machine Corporation and Heintz Performance, two companies with longstanding ties to the motorsports and automotive aftermarket industries, the release noted.
“Woodward Machine Corporation has built a strong reputation worldwide in the motorsports manufacturing industry,” said Scott Heintz, owner of Heintz Performance Inc. “We are excited about the opportunity to continue the legacy that Tony and Gloria Woodward started so many years ago, while investing in the people, capabilities and relationships that have made the company successful. Our goal is to build on what has already been established and position Woodward Machine for continued growth well into the future.”
What’s Next for WMC Manufacturing
Woodward Machine Corporation will continue operations in Casper, Wyoming, under its new corporate name, WMC Manufacturing LLC. The business will benefit from Heintz Performance’s industry experience and sales expertise while continuing to serve its established customer base and pursuing opportunities for expanded capabilities and growth, according to the release.
Heintz Performance will continue serving customers in the Concord and Charlotte region, with an expanded inventory and continued focus on customer service and product knowledge.
Jeff Edge, a senior advisor in Viking Mergers & Acquisitions’ Charlotte office, represented the seller in the transaction.