(Muncie, IN) McGunegill Engine Performance (MEP) principals Mac McGunegill and Dewaine McGunegill announced today that the business transaction is complete for the son, Dewaine, to take over McGunegill Engine Performance.

The Muncie, IN business has led the racing industry in the development of the Sealed Engine package for super late model racing across the county. And earlier this year, they announced an exclusive arrangement with Ford to help bring their new engine package to Super Late Model pavement racing.

"I am so thrilled that we got this transaction completed," noted the new business owner. "It was a very complicated process, and was much tougher than I expected. In the end, we are all going to be better off and now we can get back to building great engines for all of our customers. I’ve got some great plans that our customers are going to be really pleased with!"

In early meetings with the staff, the overwhelming response has been for a renewed commitment to customer service. "The staff has been very supportive of me taking over the business," McGunegill commented, "and we all agree that making the customer #1 will be a commitment from everyone in the shop. As a group, we will provide the racers the support they need and deserve."

The changing of ownership will now allow the elder McGunegill to enjoy all the rewards that come with building a business that is so greatly respected in the industry. "I guess I’ll finally get to relax some now and not have to worry about the day to day operations of a business anymore. It is very nice that the business will continue with the family name and I wish Dewaine and the rest of his staff all the best."

Aiding the younger McGunegill in his transition to business owner will be Jim Mougeotte. Mougeotte will have a minority ownership stake in the business, and draw on his experiences in the areas of business ownership, race team ownership, marketing and racing event promotion.

McGunegill Engine Performance is a "one stop shop" for all racing engine needs. The staff is experienced and equipped to build all types or racing engines from the very basic entry level engines to top of the line Super Late Model Engines. State of the art assembly and dyno equipment help make McGunegill one of the premier engine builders in the country.