Quick Fuel Technology is a manufacturer of modular carburetors and fuel system components used in the racing, marine and aftermarket products sectors. The company is headquartered in Bowling Green, KY (www.quickfueltechnology.com).
High Performance Industries is a manufacturer of automotive aftermarket products, including carburetors, electronic fuel injection kits, exhaust headers and fuel pumps. The company markets its products through a portfolio of brands, including: Holley, Hooker Headers, Flowtech, Earl’s, and Weiand. The company was founded in 1903 and is headquartered in Bowling Green, KY (www.holley.com).
LBC Credit Partners agented a $60 million senior secured term loan to High Performance Industries, to support the acquisition of Quick Fuel Technology and to fund a dividend recapitalization. LBC was the Agent, Sole Lead Arranger and Sole Bookrunner for this transaction. In June 2012, LBC Credit Partners provided a $37.5 million senior secured term loan and an equity co-investment to support the purchase of High Performance Industries by Monomoy.
LBC Credit Partners is a provider of middle market financing to companies with EBITDAs generally greater than $10 million. Products include senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. LBC invests from $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1.25 billion of capital under management and has offices in Philadelphia, Chicago and New York (www.lbccredit.com).
Monomoy Capital Partners has $700 million in assets under management and makes control investments in middle market businesses with revenues between $50 million and $500 million in the manufacturing, distribution, consumer product and foodservice industries. Monomoy is currently investing out of its second fund, Monomoy Capital Partners II, L.P., a $420 million vehicle that closed in January of 2011. Over the past five years, Monomoy has closed over 40 middle market acquisitions, and its companies currently produce over $1.1 billion in combined sales and employ more than 4,500 people. The firm is headquartered in New York (www.mcpfunds.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-10-13