Linsalata Capital Partners has acquired a majority interest in RWA Holding Company and its subsidiary Ring & Pinion Service (DBA RANDYS Worldwide Automotive). RANDYS’ CEO, Kevin Kaestner, co-invested in the transaction alongside Linsalata Capital Partners.
The acquisition of RANDYS is the fourth platform investment for Linsalata Capital Partners Fund VI, LP, a $427 million fund raised in August 2012.
“RANDYS is our latest portfolio company investment in the automotive aftermarket sector having previously invested in Transtar Industries, Lund International and Highland Group Industries,” said Michael Faremouth, Managing Director at Linsalata Capital Partners and a leader of the firm’s automotive aftermarket practice. “RANDYS’ strong brands and value proposition have it well positioned to capitalize on the long term growth dynamics in the industry”.
RANDYS is a provider of engineered components such as differentials, ring & pinion and axle products that are used to improve the towing and traction performance of a vehicle. The company sells over 6,000 SKU’s under the Yukon and USA Standard brands to a customer base of 20,000 installers, distributors and retailers serving the repair, off-road and performance segments. RANDYS was founded by Randal Lyman in 1982 and is headquartered in Everett, WA (www.ringpinion.com).
“RANDYS is an exciting company with strong brands, multiple organic growth initiatives and add-on acquisition candidates and we are anxious to work with Kevin Kaestner and the team to realize these opportunities,” said James Guddy, Vice President at Linsalata Capital Partners.
Linsalata Capital Partners invests from $10 million to $50 million of equity in middle market companies that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. The firm was founded in 1984 and is based near Cleveland in Mayfield Heights, OH (www.linsalatacapital.com).
2015 PEPD • Private Equity’s Leading News Magazine • 5-14-15