Birmingham, Mi – Quarton International’s Debt Advisory Group is pleased to announce that Drake Automotive Group (“Drake” or the “Company”), a portfolio investment of Huron Capital Partners LLC (“Huron Capital”), has raised financing to support its acquisition of Proforged LLC (“Proforged”) and future growth capital needs. Quarton International’s Debt Advisory Group acted as the exclusive advisor to Huron Capital and the Company in arranging financing for the transaction.
Drake Automotive Group is an aftermarket parts platform serving the classic, off-road, and late model muscle car categories. Drake is differentiated by its design and engineering capabilities which focus on replicating the look and feel of original production. Over a 30-year history, this focus on authenticity has driven brand strength synonymous with the Ford Mustang and other classic muscle cars.
Proforged is a leading supplier of severe duty chassis parts and other accessories for vehicles across all makes, models and vintages. The acquisition of Proforged diversifies the Company’s product offerings in the classic, muscle and off-road segments, while also providing greater penetration into the everyday vehicle segment.
Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its proprietary ExecFactor® buy-and-build investment model. Huron Capital prefers complex situations where it can help companies reach their full potential by combining an operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 150 companies, and its portfolio companies have employed over 11,000 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 targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials.