Clearview Capital has sold Twinco Romax, a Medina, Minn.-based distributor and manufacturer of automotive fluids and related aftermarket products, to ShoreView Industries. No financial terms were disclosed for the deal, which was managed by Harris Williams & Co.
Harris Williams & Co. is pleased to announce the sale of Twinco Romax, a portfolio company of Clearview Capital, LLC, to ShoreView Industries. The transaction closed on December 31, 2009. Harris Williams & Co. acted as the exclusive advisor to Twinco Romax. The transaction was led by Glenn Gurtcheff from the firm’s Minneapolis office and Michael Bor, co-head of the firm’s Transportation & Logistics Group from Richmond.
“Twinco is a terrific company with a long history of success providing a broad suite of products through various automotive aftermarket retail channels. The transaction represents a tremendous outcome for all parties involved and we look forward to watching the continued success of the management team in partnership with ShoreView. We are seeing strong M&A deal flow in the automotive aftermarket, with both strategic and financial buyers attracted to the stable long-term growth dynamics of the sector,” said Michael Bor, co-head of Harris Williams & Co.’s Transportation & Logistics Group. Harris Williams & Co. has been the leading advisor in the country to the automotive aftermarket. The sale of Twinco is the firm’s fifteenth pure-play aftermarket deal, with other recent clients including marquee aftermarket names such as Meineke, BBB, Axiom, WARN, Fleetpride, and AAMCO Transmissions.
Twinco Romax (www.twincoromax.com) is a vertically integrated distributor and manufacturer of automotive fluids and related aftermarket products sold to a diverse base of customers in multiple retail channels. Based in Medina, Minnesota, Twinco has established a strong market position in the upper Midwest by combining a broad product line of company-owned and national brands.
Clearview Capital, LLC (www.clearviewcap.com) is a private equity group specializing in the acquisition of profitable middle market companies. Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP.
ShoreView Industries (www.shoreviewindustries.com), based in Minneapolis, Minnesota, manages $600 million in private equity funds. ShoreView invests in established, middle market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
The firm’s Transportation & Logistics Group serves companies in a broad range of attractive niches, including the automotive and heavy-duty truck aftermarket, third party logistics (3PL), rail products and services, air services, and specialized transportation service providers. For more information, please call Michael Bor or Joe Conner at 804-648-0072.
Merger and acquisition services are provided by Harris Williams LLC, a registered broker-dealer and member FINRA and SIPC. Harris Williams & Co. is a trade name under which Harris Williams LLC conducts its business.