MiddleGround Capital, a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, has acquired Mentor-based Race Winning Brands.
Race Winning Brands is a leading designer, manufacturer and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiast and racing consumers. RWB consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments.
“We are thrilled to be partnering with MiddleGround,” said Bob Bruegging, Race Winning Brands CEO. “We believe their operationally-focused approach paired with their culture of continuous improvement and longstanding experience in the automotive and powersports aftermarkets will align perfectly with RWB’s objectives and growth strategy – with the ultimate goal of providing innovative products to best serve our automotive and powersports enthusiast customers,” he added.
Kirkland & Ellis served as legal counsel to Race Winning Brands and Baker & McKenzie provided legal counsel to MiddleGround Capital in the transaction.