Henderson, NV – Huron Capital Partners LLC (“Huron Capital”) has announced the acquisition of Drake Automotive Group (“Drake”), in partnership with its founder and management. Headquartered in Henderson, NV, Drake is a designer and distributor of branded automotive aftermarket products serving the classic car, off-road, and late model “muscle car” markets. FocalPoint served as exclusive Financial Advisor to Drake.
Founded by Scott Drake in 1988, Drake has long been a major provider of parts for classic and current model Ford Mustangs, and also caters to vehicles such as Broncos, Jeeps, Camaros and others. According to the 2015 SEMA Market Report, the automotive restoration aftermarket parts business is a $1.4 billion industry.
Brian Demkowicz, Managing Partner of Huron Capital, commented, “We believe Scott and his team have done an excellent job building a premier brand name that caters to a passionate group of vehicle enthusiasts who recognize Drake for innovation and quality. Working with the Drake team, we plan to pursue a buy-and-build strategy in the enthusiast segment of the automotive aftermarket.”
Scott Drake, Founder and President of Drake, added, “The FocalPoint team worked tirelessly throughout this process to drive an optimal outcome that resulted in an exciting partnership with a growth-oriented partner in Huron Capital.”
Duane Stullich, Managing Partner at FocalPoint, commented, “We are pleased to announce this closing as it represents another successful transaction for our dedicated consumer practice. Scott has built an exceptional business that is supported by a top-notch management team. We are proud of the results achieved, including the partner we found Scott in Huron Capital, and we look forward to what the future holds for them.”
Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and invested in over 100 companies, and our portfolio companies have employed over 7,500 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit huroncapital.com
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle-market clients throughout the U.S. and has a dedicated consumer products team. Since its inception in 2002, FocalPoint has completed approximately $5 billion in transactions. For more information on FocalPoint Partners, visit focalpointllc.com