Torque Capital Group led a group of investors to buy Brake Parts. Financial terms were not announced. McHenry, Ill.-based Brake Parts makes and supplies global brake system products for the transportation industry. Affinia Group spun off Brake Parts to its shareholders in November 2012.
Brake Parts Inc announced today that it has been acquired by a group of investors led by Torque Capital Group, a New York based private equity firm. The business was spun off to its shareholders in November 2012 by its parent, Affinia Group Holdings, of Ann Arbor, Michigan.
“Now that the deal has been completed, the BPI team along with our strategic partners are eager to move forward,” said President and CEO David Overbeeke . “Brake Parts Inc has a strong heritage of leading the category in product quality and innovation, first to market applications and superior customer service.”
Joseph Parzick , Managing Partner of Torque Capital Group said, “Torque and our investors were particularly attracted to BPI’s strong management team and their leading market position in the North American brake parts aftermarket. We are excited by the prospect of leveraging the Raybestos® brand of brake products to drive international sales growth, particularly in Asia.”
BPI recently completed a comprehensive restructuring of its global manufacturing footprint in best-cost countries investing in new world-class, state-of-the-art operations, incorporating lean manufacturing principles for optimum quality consistency and maximum productivity and efficiency. Equally important in the BPI global strategy is a strong commitment and dedication to research, development and testing to ensure our entire offering of friction, drums and rotors, calipers and hydraulic products meet or exceed original equipment fit, form and function specifications and performance requirements.
“We are in one of the most dynamic categories in the global automotive aftermarket,” said Overbeeke. “We are dedicated to continuous improvement in everything we do, each and every day in order to meet the demands of our highly valued customers!”
About Brake Parts Inc
Brake Parts Inc (BPI) headquartered in McHenry IL, is a leading global brake system products manufacturer and supplier to the transportation industry. The BPI brake product offering includes brake pads, shoes, rotors, drums, calipers, hydraulic parts and wheel hubs. For more information about Brake Parts Inc visit www.BrakePartsInc.com and for Raybestos brakes, visit www.Raybestos.com. Raybestos trademark used under license from Affinia International, Inc.
About Torque Capital Group
Torque Capital Group is a New York-based private equity firm that actively partners with leading industrial players and high-quality management teams to invest in best-in-class manufacturing businesses.