BMO Sponsor Finance provided debt financing to support the recapitalization of CJ Pony Parts by Century Park Capital Partners. Terms of the transaction were not disclosed.
CJ Pony Parts is a platform in the classic Mustang e-commerce space, founded by Jay Zeigler and a partner in 1985 with the purchase of a 1968 Mustang as a restoration project. Since those early days, Zeigler has operated the business. In 2000, he brought on Mike Large to accelerate the company’s growth trajectory. In 2010, Zeigler bought out his original partner, and in 2017, CJ Pony Parts added an additional warehouse and distribution facility in Las Vegas.
“I am so happy to have found a partner in Century Park that is aligned with my goals and vision for CJ Pony Parts,” Zeigler said. “I am looking forward to the opportunities we will create by bringing in a team of experienced leaders to put us in a better position to service the growing needs of our valuable customers.”
Large will continue to serve as president and is also participating in the transaction.
“After 20 years of experiencing the development of the company from my initial job in the warehouse, we are so excited to be joining the Century Park family,” Large said. “With the auto aftermarket and e-commerce expertise they are bringing to CJ Pony Parts, we absolutely feel like we have picked the right partner for our next chapter of growth.”
“We couldn’t be happier to be partnering with Jay, Mike and the rest of the talented CJ Pony Parts team in this recapitalization,” Guy Zaczepinski, managing partner with Century Park Capital Partners, said. “CJ Pony Parts is the most respected name in the classic Mustang aftermarket, and with our involvement, we hope to make it an even larger player in the broader automotive e-commerce space.”
“Since the early 2000s, CJ Pony Parts has benefited from being a first mover in e-commerce,” Adam Zacuto, vice president with Century Park Capital Partners, said. “Over the last two decades, the company has consistently expanded their footprint by adding parts for new vehicles and developing an industry-leading library of online educational content. As the leader in the classic Mustang category, we believe CJ Pony Parts is ideally positioned to capitalize on continued e-commerce tailwinds going forward.”
Matt Jordan, a member of Century Park Capital Partners’ executive council, will be joining CJ Pony Parts as a board member. Jordan has more than 18 years of executive leadership experience in the auto aftermarket and 23 years of experience in e-commerce. Jordan is currently the CEO of Covercraft Industries and was previously CEO of the Aftermarket Performance Group and Eckler’s Industries.
“I have been working with Guy and the Century Park team for over 15 years in the auto aftermarket. I think this is a perfect fit and I couldn’t be more excited for this partnership,” Jordan said.