Babson Capital Management has provided undisclosed funding to back Linsalata Capital Partners‘ buy of RANDYS Worldwide Automotive. Based in Everett, Washington, RANDYS is a provider of aftermarket automotive components.
CHARLOTTE, N.C. (July 13, 2015) – Babson Capital Management, a leading global asset management firm with approximately $219 billion in assets under management, today announced it provided subordinated debt and made an equity co-investment to support Linsalata Capital Partners (LinCap) in its acquisition of RWA Holding Company Inc., doing business as RANDYS Worldwide Automotive.
Founded in 1996 in Everett, Wash., RANDYS designs and distributes aftermarket automotive parts serving the off-road, racing, performance and repair/replacement segments. The company specializes in designing, sourcing and marketing differentials and related products.
“Babson has been a trusted partner to LinCap over the course of many years, and we value its reliability, flexibility and ability to help us move quickly through the process,” said Michael J. Faremouth, Managing Director at Linsalata Capital Partners. “On this transaction, we were especially appreciative of the firm’s experience in automotive aftermarket, and we look forward to future opportunities to work with the Babson team.”
“Babson is pleased to support LinCap on its investment in RANDYS Worldwide Automotive and add a new chapter in our long-standing relationship,” said Michael L. Klofas, Managing Director and head of Babson’s Mezzanine & Private Equity Group. “RANDYS has established strong brand recognition and market leadership with its broad product offering and superior customer service, and we are excited about the growth opportunities LinCap and RANDYS management team are pursuing through organic initiatives and add-on acquisitions.”
About Linsalata Capital Partners
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 31 years of investing, the firm has completed 106 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its seventh fund, Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital. Learn more at www.linsalatacapital.com.
About Babson Capital Management
Babson Capital Management (Babson) is a leading global asset management firm with approximately $219 billion in assets under management as of June 30, 2015. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. Part of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com.