Sad news: another aftermarket tuner has been bought by private equity. Hondata, a company that offers Honda and Acura owners the ability to tune their engine control units, has been acquired by Engineered Performance Technologies (EPT) Group.
We were first tipped off to the story by The Drive, citing a questionable press release from a Facebook group. But after a bit of digging—it's true.
EPT has since confirmed to Motor1 that Hondata joined the group in May. In a press release shared with Motor1 announcing the acquisition, Hondata will now have the resources to "accelerate technological leadership," expand customer support, and "bring even more innovations" to the marketplace.
View Price on AmazonDerek Stevens and Doug Macmillian cofounded Hondata in 1999 in New Zealand. The pair brought their company to the United States in the early 2000s, and it is currently headquartered in Torrance, California. EPT boss Jeff King said of the acquisition: 'We are very proud to welcome the Hondata businesses to our group of leading enthusiast automotive companies and want to welcome all of Hondata’s Team members and customers to the EPT Group. Together we will continue to focus on delivering market-leading products, technologies, compliant performance solutions and power packages, and unmatched customer support for Honda and Acura enthusiasts.'
According to the press release, Stevens, MacMillian, and the current Hondata team will continue in their current roles under EPT ownership. Hondata is now part of a group that includes Cobb Tuning, PRL, ECUTek, AutoMeter, and more.
EPT says on its website that it is “a consumer-focused automotive aftermarket company that invests in and builds products that deliver premium, differentiated software-based solutions for their customers.” Since 2007, EPT has completed eight acquisitions.
Motor1’s Take: EPT's acquisition of Hondata will give the aftermarket tuner a much-needed boost in resources, enabling it to continue serving its customers. It's also uncertain what the future will hold for the tuner when private equity holds the keys.
Source: motor1.com
