Kinderhook Sells Race Winning Brands to MiddleGround Capital
November 19, 2021
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the sale of Race Winning Brands (“RWB” or the “Company”) to MiddleGround Capital (“MiddleGround”). Financial terms of the transaction were not disclosed.
Race Winning Brands was carved out of Dover Corporation (NYSE: DOV) by Kinderhook in February 2017. Since the initial investment, Race Winning Brands has completed eight strategic acquisitions to become the leading manufacturer and marketer of racing and high-performance engine components sold to the automotive and powersports aftermarkets. RWB is the leader in pistons, engine blocks, cylinder heads, intake manifolds, valves, connecting rods, crankshafts, clutches and rotating assembly components. RWB markets its products through multiple prominent brands including JE Pistons, Wiseco Performance Products, K1 Technologies, Diamond Pistons, Trend Performance, Rekluse Motor Sports, MGP Connecting Rods, ProX Racing Parts, Dart Machinery, CV4, Manley Performance, and Victory 1 Performance. Today, the Company sells to a diverse and unmatched customer base of professional and sportsman racers, engine builders, enthusiasts, OEMs, automotive and powersports dealers and wholesale distributors.
“Our goal at RWB has always been to provide innovative products to enthusiasts of all ages in automotive, powersports, and beyond,” said Bob Bruegging, President of Race Winning Brands. “We are thrilled by this outcome and are excited to continue fulfilling our mission to our customers and enthusiasts as part of MiddleGround Capital. We are grateful for Kinderhook’s partnership; the financial support and strategic guidance have been instrumental in accelerating our growth and enabling our success.”
“We are thankful to have had the opportunity to partner with Bob Bruegging, Josh Vogel, and Kinderhook Business Building Professional Bob Romanelli,” said Paul Cifelli, Managing Director of Kinderhook. “Kinderhook’s investment in Race Winning Brands highlights a key tenet of Kinderhook’s investment strategy – partnering with world class management teams to grow businesses in niche markets.”
“Race Winning Brands is a company built by enthusiasts, for enthusiasts,” said Sam Keenan, Vice President at Kinderhook. “The Company has been able to grow while staying true to its core mission. We are excited to watch RWB continue to grow in the future.”
Lazard Middle Market served as financial adviser and Kirkland & Ellis LLP served as legal counsel to Race Winning Brands. Baker McKenzie served as legal counsel to MiddleGround Capital.
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