Daily News: June 11, 2012

Monomoy Capital Partners Acquires High Performance Industries

Monomoy Capital Partners II announced that it has acquired High Performance Industries, Inc. (Holley) through an affiliate. Wells Fargo and LBC Credit Partners provided financing for the transaction.

Founded in 1903, Holley is a manufacturer of high-performance automotive aftermarket products, including carburetors, electronic fuel injection kits, exhaust headers and fuel pumps. The company markets its products through a portfolio of iconic American brands, including: Holley, Hooker Headers, Flowtech, Nitrous Oxide Systems or (NOS), Earl’s and Weiand. Holley is headquartered in Bowling Green, KY, operates two manufacturing facilities in Kentucky and Mississippi, and employs approximately 350 associates.

Holley is a new platform acquisition for Monomoy Capital Partners II, Monomoy’s current fund vehicle. Justin Hillenbrand, partner of Monomoy, stated, “We are very excited to partner with Holley’s management team to continue to grow Holley’s portfolio of industry leading brands. Monomoy will look to strengthen and grow the company by optimizing its manufacturing system, focusing on product development and expanding Holley both organically and through acquisition. Our end-customers are individuals who own classic cars, project cars and race cars, we plan on doing a lot of listening to understand how we can make our products better.”

Thomas W. Tomlinson, the company’s CEO, added, “We are thrilled with the opportunity to move forward with Monomoy. The partnership with Monomoy will provide us with the strategic capital and operational resources to increase Holley’s market share, introduce exciting new performance products, and grow earnings.”

Kevin Morris, Rodin Hai-Jew and Natalia Sokolova from Kirkland & Ellis, LLP provided Monomoy’s legal counsel in the acquisition and Houlihan Lokey, Inc. provided financial and accounting diligence. XMS Capital Partners advised the sellers in the transaction.

Monomoy Capital Partners is a private equity firm with $700 million in assets under management that makes controlling investments in middle market businesses in the manufacturing, distribution, consumer product and foodservice industries.