LEXINGTON, Ky., April 21, 2022–(BUSINESS WIRE)–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 of 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.”
About TPT Solutions
TPT Solutions Is a transmission-focused automotive aftermarket products for light truck, automotive and SUV/CUV focused on performance. TPT is comprised of three strong brands, TransGo, RevMax and Transmission Specialties, in the transmission aftermarket space across quality, performance and brand reputation with extremely loyal customer relations drive by strong quality standards and a culture of continuous new product development. For more information, please visit: https://transgo.com, https://revmaxconverters.com, https://tsirace.com.
About Race Winning Brands
Race Winning Brands is the leading manufacturer of racing and high-performance parts sold to automotive and powersports markets. RWB is the preferred source for high-end pistons, engine blocks, cylinder heads, intake manifolds, connecting rods, crankshafts, clutches and other engine and driveline- related performance components. RWB markets its products through multiple prominent brands including JE Pistons, Wiseco Performance Products, K1 Technologies, Diamond Pistons, Trend Performance, Rekluse Motor Sports, CV4, X2 Valvetrain, MGP Connecting Rods, ProX Racing Parts, Dart Machinery, Manley Performance Products, and Victory 1 Performance. RWB sells to a diverse and unmatched customer base of professional and sportsman racers, engine builders, enthusiasts, OEMs, automotive and powersports dealers and wholesale distributors. RWB is headquartered in Mentor, Ohio with sales offices and manufacturing operations in strategic locations throughout the United States, Canada, Europe and Asia. For more information, please visit: https://racewinningbrands.com/
About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, KY with over $2.4 billion of assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: www.middlegroundcapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005840/en/