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Greenbriar acquires JEGS Automotive

Greenbriar Equity Group has acquired a majority stake in JEGS Automotive, an online national retailer and distributor of high-performance aftermarket auto parts and accessories.

Greenbriar Equity Group has acquired a majority stake in JEGS Automotive, an online national retailer and distributor of high-performance aftermarket auto parts and accessories. No financial terms were disclosed.

PRESS RELEASE

RYE, NEW YORK – February 24, 2022
Greenbriar Equity Group, L.P. (“Greenbriar”), a leading middle market private equity firm today announced that funds managed by Greenbriar acquired a majority position in JEGS Automotive (“JEGS”), a leading online national retailer and distributor of high-performance aftermarket auto parts and accessories. The investment, which represents the first commitment of institutional capital to JEGS, aims to support continued product and market expansion while enhancing its technology and distribution capabilities.

JEGS is Greenbriar’s eighth platform investment completed in the last twelve months.

Since its founding in 1960, JEGS has transformed from a local performance shop to a national online retailer and distributor of aftermarket auto parts and accessories. Today, JEGS offers its significant base of automotive enthusiast customers more than two million product SKUs from over 800 vendors through its online website and modern fulfillment center near Columbus, Ohio.

The Coughlin Family, which has successfully guided the Company’s expansion across three generations, said, “After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS. We’ve found that partner in Greenbriar, and we look forward to remaining significant shareholders alongside them.” The Coughlin Family will retain a minority ownership position alongside Greenbriar.

Jeg Coughlin III, President of JEGS, added, “The entire JEGS team has never been more excited about the opportunities that lie ahead, and we look forward to partnering with Greenbriar and their extensive network of sector experts as we focus on enhancing our customers’ online experience, onboarding new products and services, and expanding our reach through organic and M&A-led growth.”

“As an iconic brand in the performance enthusiast segment, JEGS is extremely well-positioned to take advantage of the continued growth of eCommerce in the broader automotive aftermarket, and we are proud to have been selected as their first institutional partner. The Coughlin family has built a unique culture underpinned by passionate employees with deep technical expertise, and we look forward to preserving that foundation while working with management to drive accelerated growth,” commented Matt Burke, Managing Director of Greenbriar.

Stifel Financial Corp. (NYSE: SF) acted as exclusive financial advisor to JEGS and Ice Miller LLP provided legal counsel. Hughes Hubbard & Reed LLP served as legal counsel to Greenbriar. This transaction was completed in December 2021. Additional terms of the agreement were not disclosed.

About Greenbriar
Founded in 1999, Greenbriar is a middle market private equity firm, with more than $6 billion of aggregate capital commitments across its five funds, focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, please visit www.greenbriarequity.com.