Short answer: Platinum Equity’s bought them out.
2009
Tecumseh officially closed its doors in February when Platinum Equity announces that Tecumseh Power Company had sold certain assets of its engine business to Certified Parts Corporation (CPC) of Janesville, WI, including all existing and unfinished engine parts inventory, tools to make finished product and certain intellectual property assets.
CPC also assumes responsibility for warranty of previously manufactured Tecumseh engines.
In an interview on February 10, 2009, Certified Parts Corporation President Jim Grafft stated “that he plans to move the engine operation to Rock County, Wisconsin, where he owns three facilities in Janesville and one in Edgerton, and will initially supply parts for Tecumseh Power engines. Grafft also said that his company could eventually resume engine production, which Tecumseh Power ceased in December 2008”.
2010
Certified Parts Corporation (CPC) enters into an agreement with Liquid Combustion Technology (LCT) to jointly manufacture air-cooled engines for the outdoor power equipment market. The agreement provided CPC with engineering, manufacturing, and sales capabilities allowing it to reintroduce the Snow King line of snow thrower engines and other engines formerly manufactured and sold by Tecumseh Power. The engines are exclusively represented by LCT, and sold under the Snow King, Lauson, and LCT brands and serviced exclusively by CPC and the existing Tecumseh Power dealer/distributor network. Traditionally, the Snow King line of engines has powered more snowthrowers than all other brands combined.
LCT’s horizontal 4-stroke gasoline engine offering was extended by this agreement and allowed CPC and LCT to provide single cylinder and V-twin vertical engines to outdoor power equipment manufacturers. According to Larry Zeman, VP of Winter Engine Products for LCT, “This establishes LCT as an engine manufacturer of choice as it continues to engineer a new generation of power.”
In short, Tecumseh engines and parts are currently manufactured by LCT, CPC and Lauson Engines.
and
September 18, 2017 06:11 PM Eastern Daylight Time
JANESVILLE, Wis.--(
BUSINESS WIRE)--Certified Parts Corporation (CPC) announced today that it has won a seven-figure damage award against Platinum Equity Advisors LLC and one of its former employees, Rudolf Strobl, President of TECUMSEHPOWER, in a recently concluded case in Rock County, Wisconsin. Certified Parts Corporation is a world recognized leader in procurement and sales of OEM parts for the off-road industry with 16,000 dealers worldwide. Platinum Equity is a Beverly Hills, California based private equity firm with more than $11 billion dollars under management that was founded by Tom Gores.
At issue in the recently concluded case (#11-CV-677) was whether Platinum Equity’s portfolio company TECUMSEHPOWER had delivered all of the small engine related assets that CPC had purchased from it as part of a 2009 asset purchase agreement (APA). Platinum Equity, and its Connecticut based attorneys, maintained that CPC received everything it was entitled to under the APA. CPC prevailed upon the Court that Platinum Equity must be ordered to deliver the assets they still had control over, pay damages for those assets that could not be recovered, and their counsel be admonished for withholding critical documents during the trial.
After a lengthy trial, the Court ruled that CPC was entitled to a variety of intellectual property still in existence and over a million dollars towards the loss of hard assets that Platinum Equity and Strobl were involved in disposing elsewhere. The Court also admonished Platinum Equity’s counsel for wrongfully withholding Platinum Equity documents from the case. CPC has since recovered the intellectual property, and received the total judgment paid promptly by Platinum Equity to expedite conclusion before an appeal by CPC.
James G. Grafft, founder and owner of CPC said, “The judgment against Strobl and Platinum Equity for damages and legal fees combined to exceed what I originally paid for the assets. The Court agreed with our assertions that Platinum Equity acted in bad faith through its tortious interference and conversion, with an improper motive. It was unfortunate, as the Court found, that there were actions done in spite and motivated out of a desire to see CPC fail in our new ventures. We feel vindicated that not only did the Court hold Strobl and Platinum accountable, but that the ventures they wanted to see us fail in, are succeeding.”
Grafft continued, “While we were pleased with the judgment results, we were just as eager to put the intellectual property to use in bringing back engines into production that were long staples in the snow thrower, generator and lawn and garden markets. We are excited to return some of these engines to their former glory under their trademarked names of “TECUMSEHPOWER, Lauson and Snow King.”