M&A Deal Summary

Clavis Capital Partners, Patriot Capital and Plexus Capital Acquire Race Technologies

On June 1, 2023, private equity firms Clavis Capital Partners, Patriot Capital and Plexus Capital acquired automotive company Race Technologies

Acquisition Highlights
  • This is Clavis Capital Partners’ 1st, Patriot Capital’s 5th and Plexus Capital’s 3rd transaction in the Automotive sector.
  • This is Clavis Capital Partners’ 8th, Patriot Capital’s 106th and Plexus Capital’s 132nd transaction in the United States.
  • This is Clavis Capital Partners’ 1st, Patriot Capital’s 12th and Plexus Capital’s 9th transaction in California.

M&A Deal Summary

Date 2023-06-01
Target Race Technologies
Sector Automotive
Buyer(s) Clavis Capital Partners
Patriot Capital
Plexus Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Race Technologies

Irvine, California, United States
Race Technologies provides supply chain services and high-performance product distribution across the globe and has been serving the global performance automotive and motorcycle racing, custom build, and enthusiast markets. Race Technologies was founded in 1998 and is based in Irvine, California.

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Buyer(S) 3

DESCRIPTION

Clavis Capital Partners is a private equity firm focused on control investments of industrial companies valued up to $200 million. Clavis has a particular interest in 'under-resourced' companies where the Firm can work with management to build long-term sustainable businesses. Clavis Capital Partners was established in 2013 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 9 of 9
Sector: Automotive M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 3
State: California M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 UCC Environmental

Waukegan, Illinois, United States

UCC Environmental is a provider of mission-critical engineered environmental solutions and performance parts for wastewater treatment, solids handling, and air pollution control technologies in power generation and other heavy industrial applications. UCC Environmental was founded in 1920 and is based in Waukegan, Illinois.

Buy -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 106 of 112
Sector: Automotive M&A 5 of 6
Type: Buyout (LBO, MBO, MBI) M&A Deals 33 of 34
State: California M&A 12 of 13
Country: United States M&A 106 of 112
Year: 2023 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-13 TCB Franchising

Cordova, Tennessee, United States

TCB Franchising is a home and commercial services franchisor in the U.S. and Canada. Current brands include AmeriSpec Inspection Services, Furniture Medic and Renew Medic. TCB Franchising is based in Cordova, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Alloy Wheel Repair Specialists

Norcross, Georgia, United States

Alloy Wheel Repair Specialists provides on-site repair of cosmetic damage to alloy wheel cores, off-site remanufacturing of structurally damaged wheels, and OEM replacement parts through a strong retail network. Alloy Wheel Repair Specialists was founded in 2001 and is based in Norcross, Georgia.

Buy -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 132 of 149
Sector: Automotive M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 66 of 70
State: California M&A 9 of 9
Country: United States M&A 132 of 149
Year: 2023 M&A 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 PTP

Norwood, Massachusetts, United States

PTP is an amazon web services and advanced consulting partner with the life sciences and managed security services competencies, providing strategic guidance and IT managed services to biotechnology companies. PTP is based in Norwood, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-13 Core Fiber

Newport, Washington, United States

Core Fiber is a local internet service providers across rural America, a team of technology leaders that believe rural America should have the same access to broadband as those in metropolitan areas. Core Fiber was founded in 2022 and is baed in Newport, Washington.

Buy -