Greenbriar Equity Group LP and Tailwind Capital, both private equity firms, have made a majority recapitalization of Randys Worldwide Automotive, a designer and supplier of drivetrain, suspension and under car products to the vehicle aftermarket.
Headquartered in Evertt, Wash., Randys primarily supplies drivetrain, suspension and under car products for sport utility vehicles, trucks and crossover-utility vehicles. The company provides its customers with replacement products including differential, suspension, axle assembly, transfer case, alloy wheel, driveshaft and transmission parts. The new investment by Greenbriar and the reinvestment by Tailwind work to support the senior management team in Randys’ growth and expansion plans, including organic and selective acquisition strategies to expand the company’s national presence and provide more services to its customers. CEO of Randys, Kevin Kaestner will continue to lead the business.
“This new investment will enable us to provide an even more compelling value proposition to both our customers and suppliers through new technology solutions, expanded product development, and our ongoing commitment to unparalleled technical service,” says Kaestner.
Baird and Piper Sandler served as financial advisors to Tailwind and Randys. Kirkland & Ellis LLP served as legal counsel to Greenbriar. Davis Polk & Wardwell LLP served as legal counsel to Tailwind and Randys.