Late October last year, Lincolnshire Management announced the sale of Holley Performance Products to Driven Performance Brands, a portfolio company of Sentinel Capital Partners. The details regarding the transaction were not disclosed by either party. Lincolnshire Management stated that investing in Holly has been one of its greatest decisions in investment.
Holley has been in the market for over a hundred years and still remains as one of the main authorities for high-performance carburetors, manifolds, superchargers, water pumps, and more performance automotive aftermarket products. Established in 1896, Holley’s greatest segments are on car enthusiasts and endured the competition by giving high-quality products. Follow this link to see the company’s history.
Lincolnshire Management started handling Holley since its purchase last 2013. Lincolnshire CEO T.J. Maloney stated that Holley’s brand strength and leading product portfolio is othe best in its class and represented a very compelling investment opportunity. He also stated that since the private equity firm handled Holley, Tom Tomlinson and his team managed to execute an aggressive acquisition strategy. Because of this, Holley had increased a significant organic growth, especially in the new product development.
On the other hand, Holley CEO Tom Tomlinson also thanked Lincolnshire Management during their partnership throughout the years. Tomlinson stated that Lincolnshire has been a great help for the company since day one. Its excellent knowledge in the market, as well as its products and consumers, enhanced Holley’s growth trajectory over the past 5 years.
What made the partnership between Holley Performance Products and Lincolnshire Management very successful is because of the tremendous job in navigating changes in technology, according to Ben Barlett, a Principal at Lincolnshire. He also mentioned that focus on consumer preference resulted in tripled revenues and quadrupled earnings during the investment period.
Lazard Middle Market and UBS Investment Bank served as advisors in this transaction. Meanwhile, Kirkland & Ellis LLP has been the legal counsel advisors. After the purchase, Sentinel Capital Partners merged Driven Performance with Holley.
Lincolnshire Management is a middle market private equity firm based in New York and founded in 1986. It currently has a $1.7 billion worth of private equity capital that it manages. It is currently focused on acquisitions of private companies, recapitalizations, and corporate divestitures. See some of Lincolnshire’s acquisitions in this article https://massinvestordatabase.com/publicfirm.php?name=Lincolnshire+Management.