Five Points Capital and Graycliff Partners invested unitranche debt and minority equity in Alitus Partners’s acquisition of ATRO Engineered Systems. Five Points and Graycliff made the investments through their credit funds.
Five Points Capital and Graycliff Partners announced today an investment in support of Alitus Partners’ acquisition of ATRO Engineered Systems. Five Points and Graycliff each invested unitranche debt and minority equity co-investment through their dedicated credit funds.
Headquartered in St. Claire, Missouri, ATRO Engineered Systems (“ATRO”) is a leading designer, manufacturer and distributor of polyurethane parts for heavy-duty trucks and equipment. The Company was founded in 1987 with the development of a proprietary blend of polyurethane and an innovative, patented design to make torque rod bushings that lasted longer and performed better than competitive rubber products. The Company has grown from a handful of products to a full line up of bumper to bumper parts and has become the market leader of polyurethane products in the aftermarket heavy-duty truck category.
“ATRO has a long history of delivering product innovation and exceptional customer service. We look forward to supporting the ATRO team and Alitus Partners as they continue to build upon the Company’s strong foundation,” said Jonathan Blanco, Managing Partner, Five Points Capital. “Five Points Capital and Graycliff Partners worked together to deliver an attractive and efficient capital solution to close this transaction and are committed to supporting the Company with additional capital and resources in the future.”
“We are excited about our partnership with Alitus Partners and Five Points Capital. ATRO is a leader in the aftermarket polyurethane segment and we look forward to working with the team at ATRO to continue propelling the Company forward,” said Brian O’Reilly, Managing Director, Graycliff Partners.
“We are very pleased to have Five Points and Graycliff as our primary capital providers,” said Keith Harbison, Founder and Managing Partner of Alitus Partners, “they delivered a compelling debt and equity package in a difficult market environment.”
Celebrating 33 years of operations, ATRO designs, manufactures and distributes polyurethane parts for applications such as torque rods, suspension parts, under-hood/cap and trailer part components. Compared to rubber alternatives, ATRO’s polyurethane solutions are stronger and more durable. ATRO delivers on promises and in return customers have made them the preeminent leader for polyurethane parts in the class 8 heavy-duty truck aftermarket.
About Five Points Capital
Founded in 1997, Five Points Capital is a leading independent private equity manager, exclusively focused on the U.S. lower middle market. Five Points manages direct private equity and credit strategies focused on supporting the capital needs of private, growth-oriented companies. Our debt financing capabilities span unitranche debt, subordinated debt and second lien structures, and we can provide equity co-investment capital in conjunction with a credit or on a standalone basis. Our strategy is to build long-term relationships with experienced private equity investors by providing financing certainty, add-on investment capacity and taking a partnership approach to building value. Five Points is located in Winston-Salem, North Carolina and is an investment advisor registered with the U.S. Securities and Exchange Commission. In April 2020, Five Points became an affiliate of RCP Advisors.