Kian Capital has acquired The Retrofit Source, a provider of automotive aftermarket products, in partnership with the company’s management team.
The Retrofit Source (TRS) designs, markets and distributes automotive aftermarket lighting products under the Morimoto and Profile Performance brand names as well as other lighting products under third-party brand names such as Koito, Stanley, Philips, Osram, Denso, and Matsushita. According to Kian Capital, TRS offers the largest assortment of high-end automotive lighting products on the market. TRS was founded in June 2005 and is headquartered in Atlanta (www.theretrofitsource.com).
“Kian Capital’s track record as a value-added provider of first-time institutional capital resonated with me as I evaluated a financial partner,” said Matt Kossoff, Founder and President of TRS. “Their collaborative approach and strategic resources made them the ideal partner to help the company reach our objectives. I look forward to working with them to achieve the full growth potential of TRS.”
Kian Capital invests from $7 million to $30 million of equity and subordinated debt in companies that have revenues of $15 million to $150 million and EBITDA of $2 million to $15 million. Sectors of interest include business services, value-added distribution, healthcare services, consumer services and products, and niche manufacturing. The firm has offices in Charlotte and Atlanta (www.kiancapital.com).
“We are excited to partner with TRS to help the company capitalize on its many growth opportunities. Matt Kossoff has been a pioneer in the automotive aftermarket lighting sector and has built TRS into a clear market leader, offering highly differentiated premium lighting solutions,” said Rick Cravey, Partner at Kian Capital. “The company’s innovative proprietary lighting products feature both high performance as well as attractive aesthetics. We are highly impressed by Matt and are enthusiastic about working with management to continue on the company’s impressive growth trajectory.”
Just last month, Kian Capital held a final hard cap closing of its second fund with total capital of $250 million. The firm now has $400 million of capital under management.
Atlanta-based VRA Partners (www.vrapartners.com) was the financial advisor to The Retrofit Source.
© 2018 Private Equity Professional | April 4, 2018
