MSD Performance, which makes performance auto products for street and racing use, filed for Chapter 11 protection in the U.S. Bankruptcy Court in the District of
Delaware.

After failing to find a buyer to please its lenders last year, and with a forbearance period running out, MSD said it would use the breathing room offered in Chapter 11
to find a buyer.

According to the bankruptcy court documents, there is approximately $91.9 million outstanding under a senior pre-petition facility provided by affiliates of Z Capital
Partners as first lien agent and the first lien lenders. Borrowings under the facility have matured and the amounts outstanding are currently subject to an eighth
forbearance agreement. The eighth forbearance terminated on September 6, 2012.

“As an industry leader in the performance ignition systems market for over 40 years, MSDP brings significant value to customers, suppliers and potential buyers based on
our long-standing customer relationships, robust product offering and proven focus on quality performance,” said Ron Turcotte, chairman and CEO. “Selling operations on a
going concern basis in an orderly sale through Chapter 11 is the best way to preserve as many jobs as possible, best serve our customers and will allow our operations to
emerge from bankruptcy in a relatively short time frame,” said Turcotte. “The operations we are selling have strong product portfolios, advanced technologies and continue
to perform well operationally.”

MSD’s restructuring counsel is Jones Day. Its investment banker is SSG Advisors. MSD is also represented by Richards Layton and Finger, as local counsel.

To read read the MSD Performance news release,