Monomoy Capital Partners II, L.P. announced today that it completed the sale of its portfolio company, High Performance Industries (Holley) to Lincolnshire Equity Fund IV, L.P. BB&T Capital Markets acted as the financial advisor to Holley. Kirkland & Ellis provided legal representation to Monomoy in the transaction.
Monomoy acquired Holley in June of 2012 and immediately implemented a value creation plan that included investment in research and development to accelerate new product development, improved manufacturing and sourcing efficiencies, and the strategic acquisition of Quick Fuel Technology, a manufacturer of high performance carburetors.
“We are extremely proud to help revitalize the Holley brand,” said Justin Hillenbrand, a partner at Monomoy. “By working with management to implement our value creation plan, we have achieved a significant return for our Limited Partners in less than 16 months of ownership. The execution of our strategy has positioned Holley for long-term growth.”
Tom W. Tomlinson, the company’s CEO, added, “Monomoy was a great partner for us. Their focus on creating value through manufacturing excellence made Monomoy the right owner at the right time for our company.”
Headquartered in Bowling Green, KY, Holley is a manufacturer of high-performance automotive aftermarket products, including carburetors, electronic fuel injection kits, exhaust headers and fuel pumps.