New Castle auto parts maker gets equity investment
NEW CASTLE – Mishimoto, a manufacturer of performance cooling products for the automotive aftermarket, announced Jan. 18 it has received a strategic growth investment from Main Post Partners, a San Francisco-based private equity investment firm that focuses on high-growth enthusiast brands.
Terms of the deal were not disclosed; however, Main Post aims to invest $20 million to more than $100 million in high-growth companies across the consumer value chain. The firm typically seeks companies that have yet to have institutional equity investors and mentors them to greater success.
Founded in 2005 by CEO Michael Sullivan, Mishimoto manufactures part upgrades across a number of categories, including radiators, intercoolers, oil, fluids, fans, thermostats, shields, air intakes, exhaust, and related components and accessories. It designs products to fit nearly any application, including sport compacts, powersports, trucks, Jeeps, muscle cars, sports cars, daily drivers, and classics.
Its corporate headquarter is located in an 82,000-sqaure-foot office and warehousing facility in New Castle’s Boulden Interchange Park. Next door is a 27,000-square-foot engineering studio for evaluating test vehicles, which it says helps set it apart from industry competitors. The company also has a Nevada office, as well as locations in London, Shanghai, and Sydney.
“Main Post Partners’ extensive experience working alongside founders to build best-in-class consumer brands, coupled with their industry knowledge and deep understanding of the Mishimoto brand made the decision to bring them on as a partner an easy one. Main Post’s investment will allow us to drive further brand awareness, accelerate new product development and add additional resources to support our valued customers and channel partners,” Sullivan said in a statement announcing the deal.
Matt Short, partner at Main Post, which has invested in a wide variety of consumer brands with a heavy focus on restaurants and cosmetic products, said the firm was “incredibly impressed with the strong and loyal enthusiast following Mishimoto has built.”
“Their engineering expertise and unwavering commitment to making the best products on the market is apparent in everything they do,” he added in a statement.
Treavor Hill at Piper Sandler served as the exclusive financial advisor to Mishimoto, Morrison & Foerster served as legal advisor to Main Post Partners, and Troutman Pepper served as the exclusive legal advisor to Mishimoto.