S&S Cycle has acquired a number of assets from Crane Cams with the intentions of keeping the storied manufacturer of high-performance parts running through its network of established dealers and distributors.
Viola, Wis.,-based S&S bought the inventory, intellectual property and trademarks for all Crane automotive and motorcycle electronic products, and for Crane's motorcycle valve train products at an auction Wednesday in Daytona Beach, Fla.
The Daytona Beach News-Journal is reporting that a bidding team of former Crane Cams CEO Lance Harris and S&S made a high bid of $1.2 million for the patents and trademarks, and another $215,000 for the inventory. The paper also reports that about 100 registered bidders showed up for the liquidation auction being held by Liqui-Tech industries that was held to pay off corporate debt.
Crane Cams closed its doors in February after 56 years in business, and laid off about 280 employees.
S&S Cycle says that in addition to maintaining Crane's dealer and distribution network, it plans to move into a new building in Dayton Beach to manage the business and provide customer service and technical support. Manufacturing of the valve train products will be moved to the company's facility in Viola.
"The addition of this product line is a natural fit for our current in-house cam manufacturing capabilities," S&S CEO George Smith said in a release. Smith said the addition of Crane's lineup of electronics will strengthen S&S Cycle's electronic capabilities with such products as late model ignitions.