Daily News: February 16, 2017

Antares Agents $115MM Facility to Support Kinderhook Acquisition


Antares Capital served as administrative agent and joint lead arranger on a $115 million senior secured credit facility to support the formation of a new performance parts platform, Race Winning Brands (RWB) through the acquisition of Performance Motorsports International (PMI) by Kinderhook Industries.

Mentor, OH-based Race Winning Brands is a manufacturer of performance and racing pistons and related engine components for the automotive and powersports performance markets. The company markets its products internationally through several brands including JE Pistons, Wiseco Performance Products, K1 Technologies, Innovate Motorsports and ProX Racing Parts.

“Antares understands our investment thesis and financing needs given their experience supporting us on prior automotive aftermarket deals,” said Paul Cifelli, managing director for Kinderhook. “As in prior transactions, the Antares team was reliable and flexible throughout the process.”

“We are proud to support Kinderhook in this transaction marking their 40th automotive aftermarket acquisition,” said Doug Cannaliato, senior managing director for Antares. “With a focus on innovation, quality and customer service, PMI is a market leader with a long history of manufacturing premium products. Now as part of RWB, we look forward to witnessing the continued growth Kinderhook can help the company achieve through their expertise and broad network of operating partners.”

Kinderhook Industries is a private investment firm that manages more than $2 billion of committed capital. The firm has made in excess of 150 investments and follow-on acquisitions since inception.