NOVEMBER 3, 2006
Pi sells technology division to South Africa
The Pi Group has sold its road car division to South African electronics firm, Control Instruments. The Pi Technology division will thus be separated from Pi Research, the company that deals with racing technology. The deal is believed to have been worth around $10m to Pi owners Gerry Forsythe and Kevin Kalkhoven.
Pi was established by Tony Purnell back in 1987 and boomed thanks to its success in racing and later diversified into road cars where it enjoys considerable success in trucks and road cars. The Pi Group was acquired by Ford in 2000 and was then sold on to 21st Century Racing LLC, owned by Kalkhoven and Forsythe, in 2004.
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