Z Capital Acquires ACCEL Performance Group
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Z Capital Acquires ACCEL Performance Group

accell nf1Z Capital Partners, through its portfolio company MSDP Group, has acquired automotive aftermarket parts maker ACCEL Performance Group.

ACCEL is a performance aftermarket parts manufacturer of digital fuel injection systems, fuel injectors, coils, distributors, caps, rotors, ignition wires and spark plugs. Brands include ACCEL, Mr. Gasket, Mallory Ignition, Lakewood, QuickTime and Hays. The company is based in Cleveland (www.accel-ignition.com).

MSDP Group designs, develops, tests and manufactures ignition controls, fuel injection, coils, timing accessories, spark plug wires and other performance accessories.  MSDP sells its products under the MSD®, Racepak®, Superchips® and Edge® brands to customers in the street enthusiast, professional racer and powersports markets. The company has an 84,000 sq. ft. manufacturing facility and approximately 400 employees. MSDP is headquartered in El Paso (www.msdperformance.com).

james zenni nf1“ACCEL is a natural fit for MSDP and a valuable addition to the company’s product portfolio,” said James Zenni, Chairman of MSDP and Chief Executive Officer of Z Capital Partners.  “Since making our investment in December 2013, MSDP has experienced significant growth, as well as enhanced its product innovation, brand marketing and distribution strategies.”

Z Capital makes control investments in middle-market distressed companies, operational turnarounds and special situations. The firm targets companies with an enterprise value of less than $1 billion or EBITDA of less than $100 million. Sectors of interest include consumer products, steel and steel processors, agricultural, gaming, leisure, real estate, manufacturing, specialty services and automotive.  The firm has approximately $1.9 billion of capital under management.  Z Capital is based in the Chicago suburb of Lake Forest and has an additional office in New York (www.zcap.net).

“The acquisition of ACCEL significantly enhances our position in ignition technology and allows MSDP to expand our product portfolio aimed squarely at diehard racing and street performance enthusiasts,” said Rick Ruebusch, Chief Executive Officer of MSDP.  “ACCEL complements our existing brands, providing us with both increased capability and an unmatched footprint in the aftermarket platform.”

Monroe Capital provided a credit facility to MSDP Group to support the acquisition of ACCEL Performance Group.

© 2015 PEPD • Private Equity’s Leading News Magazine • 1-15-15

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