Triangle Capital Corporation announced today that it closed a $7.2 million investment in Eckler’s, a multichannel retailer of aftermarket parts for predominantly classic cars, consisting of subordinated debt and equity. Earlier this month Eckler’s was acquired by Baird Capital Partners.
Eckler’s is a large multi-channel marketer of restoration parts and accessories for classic and enthusiast cars and trucks. Eckler’s products are primarily marketed to consumer enthusiasts and small business classic car restorers (www.ecklers.com).
Triangle Capital Corporation invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. Triangle specializes in mezzanine financing with equity components and typically invests $5 million to $25 million per transaction in companies with annual revenues between $20 million and $200 million and EBITDAs between $3 million and $20 million. The firm is based in Raleigh, NC (www.TCAP.com).