New York, October 29, 2018 – Funds advised by Lincolnshire Management, Inc. (“Lincolnshire”) today announced the sale of Holley Performance Products (“Holley” or the “Company”) to an affiliate of Sentinel Capital Partners who has merged Driven Performance Brands with Holley. Terms of the private transaction were not disclosed.
Founded in 1903, Holley is the largest designer, manufacturer and marketer of branded products serving the stable and growing performance automotive aftermarket. With over 100 years of service, product knowledge and performance expertise, Holley is a cornerstone brand that is synonymous with American performance car culture. In addition, the Company has built a stable of industry leading, complementary brands, including MSD, Hooker, ACCEL, Edge, Superchips, NOS, Weiand, Racepak, Hays, Mallory, Earls, Quick Fuel Technologies and DiabloSport. Holley serves a lifestyle market and its mission is to add value and excitement to enthusiasts’ vehicles to fuel their automotive passions.
“Holley’s brand strength, leading product portfolio and best-in-class management team represented a very compelling investment opportunity for us,” said T.J. Maloney, Chairman and CEO of Lincolnshire Management. “Since partnering with the Company in 2013, we have worked closely with Tom Tomlinson and his team to execute an aggressive acquisition strategy and drive significant organic growth through increased investment in new product development.”
“Holley is an iconic brand with a proven ability to drive innovation through focused product development and cultivate authentic connections with enthusiast consumers across the industry. Tom and the Holley team have done a tremendous job navigating changes in technology and consumer preference and, as a result, have been able to triple revenues and quadruple earnings during our investment period,” says Ben Bartlett, a Principal at Lincolnshire.
“Lincolnshire has demonstrated excellent knowledge of our market, products and consumers since day one. Their ability to peel back the layers of our business, understand the complexity of the issues we face and add tangible value throughout the organization has meaningfully enhanced our growth trajectory and evolution over the past 5 years,” says Tom Tomlinson, President and CEO of Holley Performance Products.
Holley received financial advice from Lazard Middle Market and UBS Investment Bank and legal counsel from Kirkland & Ellis LLP.
About Lincolnshire Management, Inc.
Lincolnshire Management, founded in 1986, is a private equity firm focused on investing in and acquiring growing middle-market companies across an array of industries. Headquartered in New York, Lincolnshire invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire manages over $1.7 billion of private equity capital. For more information: www.lincolnshiremgmt.com.