http://stylingperformance.search-au...le/detail/595894?contextCategoryId=43339'Crane Cams could reopen under new management'
A business team led by Wisconsin-based S&S Cycles and former Crane Cams CEO Lance Harris scooped up the majority of Crane Cams’ intellectual property at the company’s liquidation auction last week. The team spent $1.2 million to acquire 16 trademarks, three patents and the company name. According to reports from the Daytona Beach News-Journal, the goal is to get Crane Cams back up and running, though presumably at a new location.
"The goal is to get the whole thing up and running again under the name Crane Cams. We paid that much for the intellectual property because the name is good and consumers know the name," said Anders Stubkjaer, S&S Cycles chief operating and financial officer.
Crane Cams closed its doors and laid off about 280 employees in mid-February about 56 years of business in Daytona Beach.
Despite a potential purchase by Fort Lauderdale-based Scorpion Performance, Crane Cams had hired LiquiTech Industries to auction off the assets to pay corporate debt.
The Daytona Beach News-Journal reported that at the auction, Scorpion bid $1 million for all the assets, and an online bidder offered $1.1 million, before the team from S&S Cycle trumped them at $1.2 million.
The Harris/S&S Cycle team also spent $215,000 on bulk bids for all the camshafts, valve trains, motorcycle and electronic inventories.
