LEXINGTON, Ky., June 30, 2022--(BUSINESS WIRE)--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 TMG Performance Products ("TMG") through its platform Race Winning Brands ("RWB"). TMG is a designer, manufacturer and distributor of branded performance exhaust and air intakes for aftermarket automotive and marine enthusiasts.
The transaction marks MiddleGround’s fourth 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. Lastly, in May 2022, RWB purchased Haltech, a designer, manufacturer, and distributor of automotive aftermarket engine management electronics, focused on performance racing and enthusiast end users.
TMG is a leader in the premium exhaust & air intake performance aftermarket space with a 30+ year history and meaningful brand equity across its brands. TMG is made up of three brands: CORSA Performance, Volant Performance and CORSA Marine. TMG is the market leader in innovated products for Air Flow and Acoustics, driving performance for the automotive aftermarket, with global brands such as CORSA Performance manufactured for premium performance cars, Trucks, and SUVs, Volant Performance engineered for trucks and Jeeps.
"Adding CORSA and Volant to our family is a natural fit for RWB," said Bob Bruegging, CEO of Race Winning Brands. "It continues our strategic move into strong brands with strong manufacturing models in place. It is also part of our move outside the engine to the critical ‘air-in, air-out’ portions of performance. Working with the strong management team already in place, our plans are to provide support for continued growth – both internally and through additional acquisitions."
MiddleGround Founding Partner John Stewart remarked, "TMG offers an opportunity for RWB to acquire another premium brand in the automotive aftermarket with strong recognition amongst enthusiasts. The exhaust is typically one of the first modifications that an enthusiast makes to a vehicle, so this acquisition gives RWB the opportunity to win over consumers early in their enthusiast journeys. We are excited to welcome them to the RWB platform!"
About TMG Performance Products
TMG Performance Products (TMG) is a designer and manufacturer of branded performance exhaust and air intakes for aftermarket automotive and marine enthusiast. Headquartered in Cleveland, OH with over 30+ year history, TMG is the leader in innovated products for Air Flow and Acoustics, driving performance for the automotive aftermarket, with global brands such as CORSA Performance manufactured for premium performance cars, Trucks, and SUVs, Volant Performance engineered for trucks and Jeeps.
For more information, please visit: https://tmgperformance.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, Haltech 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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