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Kinderhook Sells Race Winning Brands to MiddleGround Capital

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.

For additional information about this transaction, please contact: 
Thomas Tuttle
Managing Director
(212) 201-6781
[email protected]inderhook.com
 
Paul Cifelli
Managing Director
(212) 201-6797
[email protected]
 
Sam Keenan
Principal
(212) 201-6795
[email protected]


About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.4 billion of committed capital. We have made in excess of 375 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information, please visit https://www.kinderhook.com


About Race Winning Brands

Race Winning Brands (RWB) is the leading manufacturer of racing and high-performance parts sold to automotive and powersports markets. RWB is the preferred source for high-end pistons, engine blocks, cylinder heads, intake manifolds, connecting rods, crankshafts, clutches and other engine and driveline- related performance components. RWB markets its products through multiple prominent brands including JE Pistons, Wiseco Performance Products, K1 Technologies, Diamond Pistons, Trend Performance, Rekluse Motor Sports, Falicon Racing, CV4, X2 Valvetrain, MGP Connecting Rods, ProX Racing Parts, Dart Machinery, and Manley Performance Products. RWB sells to a diverse and unmatched customer base of professional and sportsman racers, engine builders, enthusiasts, OEMs, automotive and powersports dealers and wholesale distributors. RWB is headquartered in Mentor, Ohio with sales offices and manufacturing operations in strategic locations throughout the United States, Canada, Europe and Asia.

For more information, please visit http://www.racewinningbrands.com


About MiddleGround Capital

MiddleGround Capital is a private equity firm based in Lexington, KY with over $2.0 billion in assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies.

For more information, please visit https://middlegroundcapital.com/

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