Private equity firm Z Capital Partners LLC has acquired automotive parts provider MSD Performance Group out of bankruptcy.
Terms of the deal remain undisclosed.
Z Capital facilitated the deal through its portfolio company Hot Rod Brands.
MSD Performance provides aftermarket vehicle parts to drag racing enthusiasts and hot rod manufacturers. The El Paso, Texas-based company filed for Chapter 11 bankruptcy protection on Sept. 6, citing a liquidity crunch.
At the time of the filing, the company listed debts that included a $102.5 million term loan, as well as about $4.6 million in trade debt and nearly $1 million left outstanding on a noncompete agreement with a consultant from a previous acquisition. MSD Performance also reported assets of roughly $50 million to $100 million and debts of $100 million to $500 million in its bankruptcy petition.
Law firms Jones Day and Richards Layton & Finger provided legal counsel to MSD Performance.