Kian Capital Partners, a middle-market focused private investment firm, has completed a majority recapitalization of T Sportline, an ecommerce provider in the Tesla aftermarket space.
T Sportline is a provider of branded aftermarket parts and accessories designed specifically for Tesla vehicles. The company has developed ad suite of custom wheels and interior and exterior accessories that inspire customers interested in upgrading their Model S, Model 3, Model X, Model Y and Roadster with modifications. A digitally native business, T Sportline sells direct-to-customer via e-commerce and delivers a rich online content experience for Tesla enthusiasts.
T Sportline was founded in 2013 by Jon Pek and Elie Rothstein who will each remain involved in day-to-day operations post-closing.
Pek said, “Kian’s successful track record with automotive aftermarket enthusiast companies and e-commerce business models made them the perfect partner for us as we enter into this next phase of our growth. They share our vision for T Sportline’s potential and have the strategic resources and roadmap to help get us there.”
“It was clear from the start that a partnership with Kian would help further solidify our position in the Tesla aftermarket and leverage that position to expand into other markets,” added Rothstein. “We are confident that Kian will help T Sportline achieve its full potential while also preserving the unique and authentic car culture of the Company.”
T Sportline represents Kian’s third platform investment in the automotive aftermarket space joining Driven Lighting Group (formerly The Retrofit Source) and The Eastwood Co. in the firm’s Fund II portfolio.
“T Sportline is an innovative business in the rapidly growing electric vehicle space with a very talented management team in Jon Pek and Elie Rothstein,” commented Rick Cravey, partner at Kian Capital. “We look forward to working with them to expand the Company’s product line, enter new channels and strengthen its leadership in the Tesla aftermarket. As Kian’s third automotive aftermarket platform in as many years, we are excited about this partnership and how it will further our franchise and advance our record of identifying and driving value in the sector.”
Focus Investment Banking acted as financial advisor to T Sportline. Robinson, Bradshaw & Hinson PA acted as legal advisor and Ignition Advisors LLC acted as domain advisor to Kian Capital Partners.