MiddleGround Capital Completes Third Add-on Acquisition of Haltech for Its Race Winning Brands Platform
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 Haltech Engine Management Systems ("Haltech") through its platform Race Winning Brands ("RWB"). Haltech is a designer, manufacturer, and distributor of automotive aftermarket engine management electronics, focused on performance racing and enthusiast end users.
The transaction marks MiddleGround's third add-on acquisition by RWB, since the firm acquired the platform in December 2021. In April 2022, RWB purchased PAC Racing from Peterson American Corporation, adding performance springs to its portfolio. Later that month, RWB purchased TPT Solutions, providing transmission-focused automotive aftermarket performance products for light truck, automotive and SUV/CUV under three strong brands, TransGo, RevMax and Transmission Specialties.
Haltech product offerings include engine control units, displays, and related accessories such as harnesses. The products are used primarily to control engines by monitoring engine and driver data inputs to calculate optimal performance output, as well as displaying various engine performance parameters to the driver.
Bob Bruegging, CEO of Race Winning Brands, stated "I'm extremely excited about bringing Haltech into our Family of Brands - we have products that build faster, stronger engines - and Haltech builds products that allow those engines to perform at their best! Located in Australia, this will also give us another base of operations outside the US to complement our Canadian and European Operations. Nathan and his team are a welcome addition to our growing family."
MiddleGround Founding Partner John Stewart remarked, "The Haltech team has drven remarkable 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. We are excited to welcome this brand to the RWB family."
Haltech is a designer, manufacturer, and distributor of automotive aftermarket engine management electronics, focused on performance racing and enthusiast end users. Haltech product offers includes engine control units, displays, and related accessories such as harnesses. The products are used primarily to control engines by monitoring engine and driver data inputs to calculate optimal performance output, as well as displaying various engine performance parameters to the driver. For more information, please visit: https://www.haltech.com/.
About Race Winning Brands
Race Winning Brands (RWB) 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, PAC Racing Springs. RevMax, TransGo, Transmission Specialties 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 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.
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