Linsalata Capital Partners has acquired a majority stake in Everett, Washington-based RANDYS, a provider of automotive aftermarket components. No financial terms were disclosed.
Mayfield Heights, Ohio (May 13, 2015) – Linsalata Capital Partners (LinCap), a Cleveland-based private equity firm, announced that it has acquired a majority interest in RWA Holding Company, Inc. and its subsidiary Ring & Pinion Service Inc. doing business as RANDYS Worldwide Automotive (“RANDYS”) from Randal Lyman and other shareholders. The acquisition of RANDYS is the fourth platform investment in Linsalata Capital Partners Fund VI, L.P., a $427 million fund focused on lower middle market transactions. Terms of the transaction were not disclosed.
RANDYS, headquartered in Everett, Washington, is a leading North American automotive aftermarket provider of highly engineered components under the Yukon and USA Standard brands. The Company’s main product categories include differentials, ring & pinion and axle products that are generally used to improve the towing and/or traction performance of a vehicle. The Company sells over 6,000 skus with industry leading delivery times to a diverse base of over 20,000 installers, distributors and retailers serving the repair, off-road and performance segments.
LinCap Acquires RWA Holding Company, Inc.
The Company’s CEO, Kevin Kaestner, who re-invested alongside LinCap in the transaction, commented, “We thank Randy Lyman for his nearly 20 years of entrepreneurial spirit and leadership. Our team is excited about the opportunities available to us and we look forward to working with Linsalata Capital Partners to continue our growth and achieve our vision for the Company“.
“RANDYS is an exciting Company with strong brands, multiple organic growth initiatives and add-on acquisition candidates and we are anxious to work with Kevin and the team to realize these opportunities”, said James V. Guddy, Vice President at Linsalata Capital Partners.
“RANDYS is LinCap’s latest portfolio company investment in the automotive aftermarket sector having previously invested in Transtar Industries, Lund International and Highland Group Industries”, added Michael J. Faremouth, Managing Director at Linsalata Capital Partners and a leader in LinCap’s automotive aftermarket practice, “RANDYS strong brands and value proposition have it well positioned to capitalize on the long term growth dynamics in the industry”.
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 31 years of investing, the firm has completed 106 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its seventh fund, Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital.