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M&A Deal Summary

Byline Bank and Racing & Performance Acquire AFR

On June 1, 2021, Byline Bank and Racing & Performance acquired automotive company AFR

Acquisition Highlights
  • This is Byline Bank’s 1st and Racing & Performance’s 1st transaction in the Automotive sector.
  • This is Byline Bank’s 3rd and Racing & Performance’s 1st transaction in the United States.
  • This is Byline Bank’s 1st and Racing & Performance’s 1st transaction in California.

M&A Deal Summary
Date 2021-06-01
Target AFR
Sector Automotive
Buyer(s) Byline Bank
Racing & Performance
Deal Type Add-on Acquisition

Target

AFR

Valencia, California, United States
AFR is a provider of performance aftermarket cylinder heads and intake manifolds. AFR’s products are made from high-caliber aluminum and are highly engineered to significantly improve performance. AFR was founded in 1970 and is based in Valencia, California.

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Buyer(S) 2

Buyer

Byline Bank

Chicago, Illinois, United States
Category Company
Founded 1914
Sector Financial Services
Employees1,032
Revenue 404M USD (2024)
DESCRIPTION

Byline Bank is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions. Byline Bank was founded in 1914 and is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 3
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: California M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 Oak Park River Forest Bankshares

Oak Park, Illinois, United States

Oak Park River Forest is the parent company of Community Bank of Oak Park River Forest, a full-service community bank that offers commercial, retail, and mortgage banking services through its headquarters in downtown Oak Park and its two additional branch locations in River Forest and south Oak Park. Community Bank was founded in 1996 and has since grown to over than $300 million in assets and 15,000 customer accounts, with an emphasis on serving its local retail, business, and non-profit communities.

Buy $42M
Buyer

Racing & Performance

Valencia, California, United States
Category Company
Founded 2021
Sector Automotive
DESCRIPTION

Racing & Performance is a consolidation of high-performance automotive aftermarket parts businesses. Racing & Performance was formed in 2021 and is based in Valencia, California.

DEAL STATS #
Overall 1 of 5
Sector: Automotive M&A 1 of 5
Type: Add-on Acquisition M&A Deals 1 of 5
State: California M&A 1 of 4
Country: United States M&A 1 of 5
Year: 2021 M&A 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 SCAT Enterprises

Oxnard, California, United States

SCAT Enterprises is a manufacturer of crankshafts, connecting rods and rotating assemblies. SCAT Enterprises is based in Oxnard, California.

Buy -
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