Atlantic Street Capital said Sept. 10 that it invested in All Star Auto Lights via a majority recap. Financial terms weren’t announced. All Star Auto Lights is a specialty distributor of alternative automotive lighting parts.
Atlantic Street Capital Announces Majority Recapitalization Of All Star Auto Lights
Scalable Expansion Opportunities Include New Product Categories and Acquisitions
STAMFORD, CT, September 10, 2019 – Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today the majority recapitalization of All Star Auto Lights, a specialty distributor of alternative automotive lighting parts. Atlantic Street is partnering with the company’s CEO, Matt Immerfall, and other investors.
Founded in 2004 and based in Orlando, Florida, All Star is a distributor of replacement alternative lighting products to independent auto body shops and multi-site operators of collision repair centers. All Star has a nationwide distribution network through its seven facilities and sells like-kind-and-quality (“LKQ”) recycled and refurbished OEM parts and certified aftermarket products, including headlamps, tail lamps, park lamps and fog lamps for foreign and domestic vehicles. For more information, visit https://allstarautolights.com/.
Phil Druce, Partner of Atlantic Street Capital, said, “We are very excited about this investment because of All Star’s leading industry position and its ability to serve as a cost-effective and quality alternative to higher priced new OEM products. Working with Matt, we will capitalize on opportunities to expand the company’s footprint, further penetrate existing customers, and evaluate potential expansion into new product categories.”
Matt Immerfall, who continues as Chief Executive Officer of All Star Auto Lights, commented, “We recognized the need for a strategic partner to help All Star grow by investing in and supporting the company’s organic growth plan and executing on acquisition opportunities. We believe Atlantic Street has the right team of professionals to help us achieve our aggressive growth goals.”
Peter Shabecoff, Managing Partner of Atlantic Street Capital, said, “The U.S. auto collision repair market is a growing category and a variety of factors are causing consumers, insurance carriers, and auto collision repair shops to help mitigate increasing costs with high quality alternatives. Both recycled or refurbished OEM parts and aftermarket parts are now a viable, cost-effective alternatives to new parts and All Star is a leader in terms of differentiated price, quality, available inventory, timely delivery, and service. We look forward to partnering with Matt as we expand and grow its operations.”
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in lower middle market companies with between $4 million and $15 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-added strategic and operational initiatives. Atlantic Street Capital’s investment team are hands-on investors who work closely with management to unlock their business’ underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital IV, LP. For more information, visit www.atlanticstreetcapital.com.