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By Aaron Waldron

LiveRC.com

Press release from HPI Racing:

www.hpiracing.com

Ripmax is delighted to announce the completion of a deal which sees the leading European model & hobby supplier taking over the HPI Racing brand and properties and securing HPI Racing for the future.

The company will retain the EU based global trading and logistics hub in Derbyshire, UK and will trade as "HPI Racing Ltd" with all the staff retained. The deal also preserves the world renowned Californian HPI DNA, establishing a new HPI Racing design house "HPI Racing Design, LLC" run by key HPI USA team members.

Ripmax CEO Nick Moss said, 'Tatsuro Watanabe built up HPI from the ground up and credit must go to him for establishing HPI as a fantastic and truly worldwide brand. Ripmax have worked very hard to conclude this extremely complicated transaction, which will make a superb addition to our group of companies. We are really very excited about the prospect of nurturing and growing the HPI brand and working with the greatly experienced HPI teams both at Swadlincote and in the USA. Our intention is to change as little as possible, so that HPI remains as its own global brand, and continues producing its world leading products.'

HPI Racing fans and customers across the globe can now expect to see continually improving parts supply and customer service over the next few months as the company rallies back to health, with brand new products reaching shops not long after.

HPI will continue to embrace its well established distribution network so shops and distributors can continue to work with their existing HPI contacts. Fans of HPI are advised to keep checking with their favourite stores who will have continued HPI supply in stock soon.

Ritchie Dearden HPI's MD said, "It is great news that a deal has now been completed, we thank our distributors, suppliers and partners for their support in recent months and look forward to working together with them all now with Ripmax's support to make HPI stronger than ever."

Everyone at HPI Racing looks forward to building on the brand's long heritage of innovation, high quality products and awesome customer experiences.

Here's to the next 30 years!