Investment Summary

Farragut Capital Partners, Taglich Private Equity and Byline Bank Invest In AFR

On July 22, 2021, mezzanine finance firm Farragut Capital Partners, private equity firm Taglich Private Equity and Byline Bank invested in automotive company AFR

Investment Highlights
  • This is Farragut Capital Partners’ 2nd, Taglich Private Equity’s 3rd and Byline Bank’s 1st transaction in the Automotive sector.
  • This is Farragut Capital Partners’ 80th, Taglich Private Equity’s 23rd and Byline Bank’s 3rd transaction in the United States.
  • This is Farragut Capital Partners’ 6th, Taglich Private Equity’s 2nd and Byline Bank’s 1st transaction in California.

Investment Summary

Date 2021-07-22
Target AFR
Sector Automotive
Investor(s) Farragut Capital Partners
Taglich Private Equity
Byline Bank
Deal Type Growth Capital

Target

AFR

Valencia, California, United States
AFR is a provider of performance aftermarket cylinder heads and intake manifolds. AFR 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. AFR was founded in 1970 and is based in Valencia, California.

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Investor(S) 3

Investor

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 80 of 97
Sector (Automotive) 2 of 3
Type (Growth Capital) 22 of 28
State (California) 6 of 7
Country (United States) 80 of 97
Year (2021) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 MBH Settlement Group

Chantilly, Virginia, United States

MBH Settlement Group is a provider of residential real estate Title and Settlement Services, Mortgage Lending, and the practice of law in Virginia, Maryland, and the District of Columbia. MBH Settlement Group was founded in 1994 and is based in Chantilly, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 Accurate Fabrication

Hartford, Wisconsin, United States

Accurate Fabrication provides precision metal fabrication, using state-of-the-art equipment and production methods. Operations include laser cutting, punching, bending, welding, and assembly. Accurate has built a strong reputation providing OEMs with high-quality parts and service. Accurate Fabrication was founded in 1994 and is based in Hartford, Wisconsin.

Buy -
Investor

Taglich Private Equity

New York, New York, United States

Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Taglich Private Equity is a private equity firm focused on investing in US-based, lower middle market manufacturing, business service, and consumer product companies. The Firm prefers businesses with strong growth prospects and leading market positions. Taglich looks to invest $3 to $20 million and will consider funding a variety of investment situations - including management buyouts, recapitalizations, secondary buyouts, ownership transitions, divestitures, and growth capital financings. Taglich Private Equity was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 23 of 23
Sector (Automotive) 3 of 3
Type (Growth Capital) 2 of 2
State (California) 2 of 2
Country (United States) 23 of 23
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Fiber-Line

Hatfield, Pennsylvania, United States

Fiber-Line, Inc. is a manufacturer of high-performance, coated fibers. Fiber-Line takes raw fiber and applies proprietary, innovative coatings in a specialized manufacturing process (which includes twisting, winding and splicing) to enhance the performance characteristics of the fiber for use in a variety of industries, including fiber optics, oil & gas, composites and industrial. Fiber-Line, Inc. was founded in 1987 and is based in Hatfield, Pennsylvania.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Lignetics

Broomfield, Colorado, United States

Lignetics is a residential wood pellet manufacturing company in the U.S. The company’s innovative eco-friendly offering includes premium wood pellets for super-efficient home heating, barbecue pellets that naturally seal in perfect wood-fired flavor, and a superior all-natural high-performance cat litter. The company delivers these innovative all-natural products through national retail partners and directly to consumers via the only national network of wood pellet manufacturing plants spread across the U.S. and Canada with 22 different plant locations. Lignetics was founded in 1983 and is based in Broomfield, Colorado.

Sell -
Investor

Byline Bank

Chicago, Illinois, United States

Category Company
Founded 1914
Sector Financial Services
Employees1,064
Revenue 384M USD (2023)
DESCRIPTION

Byline Bank is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $3.3 billion in assets and operates more than 50 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States. Byline Bank was founded in 1914 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 3
Sector (Automotive) 1 of 1
Type (Growth Capital) 1 of 1
State (California) 1 of 1
Country (United States) 3 of 3
Year (2021) 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