Washington, D.C. – Farragut Capital Partners, Inc. is pleased to announce the closing of an investment in Air Flow Research Heads, LLC (“AFR” or the “Company”). Farragut invested mezzanine debt and made an equity co-investment to support the acquisition of AFR by Taglich Private Equity, LLC (“Taglich”), a New York-based private investment group. Byline Bank’s Sponsor Finance (“BSF”) provided senior financing in support of the acquisition.
Founded in 1970 and based in Valencia, California, AFR is a provider of performance aftermarket cylinder heads and intake manifolds. The Company has built a strong brand supplying high quality automotive aftermarket parts with a focus on the racing and street/strip racing industry. AFR’s products are made from high caliber aluminum and are highly engineered to significantly improve performance.
Phil McNeill of Farragut said of the transaction, “We’re excited to partner with Taglich and the Company’s existing management team in this transaction. AFR is a well-established leader in the automotive performance aftermarket and has developed a strong and recognizable brand amongst its enthusiast customers. Taglich brings deep experience and knowledge of the space which will unlock some exciting growth opportunities for the Company moving ahead. Farragut is happy to support a Company with such a rich history and excited about our partnership with the teams at Taglich and BSF.”
Will Morris, Partner at Taglich Private Equity stated, “AFR has a fantastic brand and impressive legacy which we want to continue. We are thrilled to be partnering with the management team of AFR and Farragut Capital in supporting the continued growth of AFR, both organically and through acquisitions of other performance aftermarket companies.”
The investment was made out of the firm's second SBIC fund, Farragut SBIC Fund II, L.P.
About Farragut Capital Partners
Farragut Capital Partners is a lower middle market private debt and equity firm based in Washington, DC. With nearly $300 million of assets under management across two funds, the firm seeks to make $2 to $12 million mezzanine investments, including subordinated debt and non-control equity, in operating businesses throughout the United States. Farragut's investments support growth financings, recapitalizations, leveraged buyouts and acquisitions. The firm has invested in over 40 companies since 2013 and recently closed its second fund with approximately $180 million of investable capital.
Farragut specializes in asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. The firm works with private equity groups, independent sponsors, senior lenders, and directly with owners and management teams to create and build value in its portfolio companies over time.
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