Malibu Grand Prix Buys 51% of Race Car Company
Malibu Grand Prix, a Woodland Hills-based operator of miniature sports-car tracks and other amusement centers, bought a 51% stake in Swift Cars, a maker of professional racing cars. The price was not disclosed.
Swift, an Anaheim-based concern founded in 1982, makes cars for the Sports 2000, Formula Ford and Formula Atlantic classes of auto racing. The cars cost between $21,000 and $56,000 each. Bill Fickling and Jim Chapman, Swift’s principals, will continue to run the company as an affiliate of Malibu Grand Prix.
“Our involvement in Swift cars not only will contribute to earnings, but will provide us with the opportunity to market both the Swift and Malibu Grand Prix names worldwide through a variety of racing activities,†Ira Young, Malibu Grand Prix’s chairman, said in a statement.
