RaceTec Pistons was recently acquired by Taglich Private Equity, the firm that also owns AFR, Scat Crankshafts and Procar by Scat.
RaceTec Pistons was founded in 2007 by Wayne Brooks, who was completing his second venture into the piston manufacturing industry and the automotive aftermarket as he was a former owner of JE Pistons. Wayne was instrumental in helping that company grow into one of the industry’s leaders in forged pistons.
Today, RaceTec Pistons are designed and engineered by true piston experts who understand the intricate and complex automotive aftermarket industry and high-performance engine applications. RaceTec pistons are all designed and machined in-house, allowing for complete control over every step of the piston-making process.
RaceTec continues to evolve its manufacturing processes and offers industry-leading forged pistons for street and race enthusiasts alike. Jeremy Gillum, vice president of RaceTec Pistons, will remain involved in the business going forward, and RaceTec’s management team will remain in place along with its production facility and employees located at its headquarters in Huntington Beach, CA.
Financing for this transaction was arranged by Taglich Private Equity with equity provided by Taglich and Farraqut Capital Partners, who also provided subordinated debt. Byline Bank provided the senior debt financing. Dentons Durham Jones Pinegar acted as legal advisor and Moss Adams acted as due diligence advisor to Taglich.
“RaceTec Pistons has a fantastic brand, strong team and an impressive legacy, which we are fortunate to add to our company,” says Shawn Sterling, CEO. “I am thrilled about the opportunity to work with and learn from Jeremy and the rest of the team.”
“We continue to be very interested in exploring additional add-on acquisition opportunities in the high-performance automotive aftermarket to accelerate growth and build upon our product offerings,” says Will Morris, managing director, Taglich Private Equity.
