MiddleGround Capital Completes Second Add-on for Acquisition of TPT Solutions For Its Race Winning Brands Platform
Lexington, KY, April 21, 2022: MiddleGround Capital, an operationally-focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, is thrilled to announce the acquisition TPT Solutions (“TPT”) by its platform Race Winning Brands (“RWB”). TPT goes to market under three market-leading brands—TransGo, RevMax and Transmission Specialties. The transaction marks MiddleGround’s second add-on acquisition by RWB, since the firm acquired the platform in December 2021. Earlier this month, RWB purchased PAC Racing from Peterson American Corporation, adding performance springs to its portfolio.
TPT provides transmission-focused automotive aftermarket performance products for light truck, automotive and SUV/CUV. TPT’s key product categories include rebuilt transmissions, torque converters, valve bodies, and other transmission related specialty components/kits and has built a stellar reputation among its loyal customer base, due to its strong quality standards and culture of continuous new product development.
The combined RWB and TPT businesses create a scaled performance automotive & powersports aftermarket platform with diversified exposure across vehicle applications.
“We believe the addition of these three legendary brands to our family is a natural next step, adding outside-of-the-engine performance,” stated Bob Bruegging, CEO of Race Winning Brands. “With a strong presence in both diesel and gasoline transmission products, along with a strong management team led by Frank Kuperman, we see tremendous synergies with this acquisition for many reasons – but especially for our customers.”
MiddleGround Founding Partner John Stewart remarked, “TPT is a perfect addition to RWB’s platform, bringing complementary product categories to RWB’s already-diverse portfolio. The TPT team has driven impressive above-market growth through its own product portfolio expansion, and RWB’s deep culture of product innovation and strong track record of adding and integrating new brands through acquisition set the combined platform up for success, providing customers with a one-stop shop experience.”
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