MiddleGround Capital, an operationally-focused private equity firm, has acquired Race Winning Brands.
Race Winning Brands is a designer, manufacturer and distributor of branded automotive and powersports aftermarket products. The firm includes 12 brands within its portfolio with applications across a diverse spectrum of automotive and powersports segments.
This is MiddleGround’s third Fund II platform in the last two weeks and has already closed a total of eight deals in the last 60 days which represents a total enterprise value of around $1.4 billion.
“We are very excited to be partnering with Bob Bruegging, Josh Vogel, and the rest of the Race Winning Brands team as we look to usher the company into its next stage of growth,” said John Stewart, MiddleGround founding partner. “RWB has a strong culture of continuous improvement with a focus on new product development that allows the company to offer a wide breadth of innovative, customized, performance-enhancing products for its enthusiasts and customer base.”
Kirkland & Ellis served as legal counsel to Race Winning Brands and Baker & McKenzie provided legal counsel to MiddleGround Capital in the transaction.