Irving Place Capital and New Value Capital have completed the acquisition of Dynojet Research, a manufacturer of aftermarket parts and accessories and diagnostic equipment used in the powersports industry.
Dynojet’s main products are dynamometers which are devices used to measure the force, torque, or power of an engine. Other products include flash tuners, electronic fuel injection monitors, and air/fuel ratio monitors. The company’s products are used in the powersports industry (motorcycles, snow mobiles, ATVs, boats and scooters) and are sold globally through a network of distributors and dealers. Dynojet was founded in 1972 and is led by CEO Robert Vlcek. The company is headquartered in Las Vegas with manufacturing facilities in Belgrade, MT (northwest of Bozeman) and a sales office and warehouse in the Netherlands (www.dynojet.com).
“Dynojet has a long and successful track record of developing innovative, performance-enhancing products that address the needs of enthusiast vehicle owners,” said Phil Carpenter, Co-Managing Partner of Irving Place Capital. “We are excited to be partnering with the management team and New Value Capital to continue to build Dynojet’s well-recognized brand and portfolio of market leading products.”
New Value Capital (NVC) invests in branded, enthusiast businesses that have revenues in excess of $5 million. Areas of specific interest include outdoor/survival/military tools and gear; performance cycling products and accessories; motorsports enthusiast products; emergency preparedness and response; and high-end, technical, mission critical apparel. The firm was founded by Adam Raper and Paul Lehman and is headquartered in Park City, UT (www.newvaluecapital.com).
“NVC is thrilled to partner with Dynojet and IPC, both firms with which I have enjoyed a long-standing relationship,” said Paul Lehman, a NVC partner. “Dynojet has tremendous potential and is attractively positioned as the market leader across its product categories. I look forward to working with Robert Vlcek and the rest of the Dynojet team to accelerate the company’s next phase of growth.”
Irving Place Capital invests in buyouts, recapitalizations and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments. Since its formation in 1997, Irving Place Capital has been an investor in 60 companies and manages over $4 billion, including its current $2.7 billion institutional fund. The firm is based in New York (www.irvingplacecapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-30-15
