Gen Cap America Inc said Feb. 21 that it sold Myco Trailers LLC to Propst Development LLC. Financial terms weren’t announced. Myco, of Bradenton, Florida, provides boat trailers for government agencies and the boating industry.
Nashville, Tenn., February 21, 2018 – Gen Cap America, Inc., a private equity firm focused on lower middle market buyouts, announced today that it has sold Myco Trailers, LLC (“Myco”) to Propst Development, LLC. Terms of the transaction were not disclosed.
Myco was founded in 1974 and is a leading provider of custom designed boat trailers marketed exclusively to the high performance boating industry (offshore racing, fishing and poker run recreation) and to various governments for military use. The company distributes to both a national and international client base. Gen Cap America acquired Myco in March of 2007 partnering with management to buyout the previous owner.
Chris Godwin, Managing Director at Gen Cap America, commented, “The team at Myco was a key factor in Gen Cap’s investment ten years ago, and we believe they will continue their track record of success going forward.”
“We have valued highly our partnership with Gen Cap and believe their support has been a strong contributor to Myco’s success,” said Tim Moran, CEO of Myco.
Barney Byrd, President of Gen Cap America, stated, “Myco has been an excellent example of our firm’s long history of teaming with existing management in lower middle market companies.”
About Gen Cap America
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established lower middle market businesses. For more information, visit www.gencapamerica.com.