Simpson Performance Products Inc, which is backed by Bruckmann, Rosser, Sherrill & Co, has acquired Stilo S.r.l, an Italy-based maker of auto racing helmets. No financial terms were disclosed; however, Ares Capital Co. provided the debt funding for the deal.
NEW BRAUNFELS, TEXAS – December 8, 2015 – Simpson Performance Products, Inc. (“Simpson” or the “Company”), a portfolio company of Bruckmann, Rosser, Sherrill & Co. (“BRS”), today announced it has acquired Stilo S.r.l. (“Stilo”), an Italian auto racing helmet manufacturer.
Founded in 1999 by Ludovico Fassitelli and Elena Perini and headquartered in Pedrengo, Italy, Stilo is one of the industry’s leading manufacturers and designers of helmets and helmet communications systems for global motorsports. The acquisition of Stilo further enhances Simpson’s leading market position in racing safety products and extends the Company’s global reach.
Chuck Davies, Chief Executive Officer of Simpson, said, “We have continuously strived to evolve and improve our business by expanding with brands that produce high-quality product to improve racing safety. The Stilo acquisition accelerates the growth of Simpson by adding another great brand to the portfolio and expanding our presence in Europe. Further, we are excited that the combination of Simpson and Stilo will enhance future product advancements through knowledge sharing and other collaboration.”
Stilo will continue to be based in Pedrengo, Italy and will operate under its current management team led by Guglielmo Belotti and founders Fassitelli and Perini who will continue to support and lead development and marketing activities.
Stilo founders Ludovico Fassitelli and Elena Perini added, “This is a great opportunity for Stilo. To be a part of such an important group in motorsports can only result in greater momentum for Stilo’s growth. We are proud to continue working as before to achieve new goals.”
K&L Gates LLP acted as legal advisor to Simpson and Ares Capital Co. provided debt financing for the transaction.
About Simpson Performance Products, Inc. (www.simpsonraceproducts.com)
Founded in 1959 and based in New Braunfels, TX, Simpson is the leading provider of critical motorsports safety equipment. Backed by best-in-class technical expertise, the Company has built a loyal following in the motorsports community among both professional and amateur drivers. Simpson’s comprehensive selection of advanced safety products includes head and neck restraints, helmets, racing suits, seat belts, off road vehicle seats, window nets, parachutes, racing gloves and footwear. In addition to the respected Simpson brand, the Company designs, manufactures and markets the leading HANS brand of advanced head and neck restraints.
About BRS (www.brs.com)
BRS is a New York-based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Current investments include Not Your Average Joe’s, Downtown Locker Room, EOS Fitness and InMotion Entertainment Group.