Monomoy Gains Loan Supporting Holley Purchase

Oct 4, 2012

LBC Credit Partners agented a $37.5 million loan to support Monomoy Capital Partners’ purchase of Kentucky-based High Performance Industries, a manufacturer of high-performance automotive aftermarket products operating under the Holley name. The acquisition was originally announced this summer.

“We have a high regard for Monomoy Capital Partners, and this is a continuation of our strong relationship,” said Homyar M. Choksi, managing director with LBC. “We were very happy to play a part in their acquisition of Holley; this deal will allow Holley to continue to innovate, launch new products, expand its market share and improve its earnings.”

With $700 million in assets under management, Monomoy Capital Partners is a private investment firm dedicated to constructive investing and business improvement in the lower middle market, according to a press release.

Holley has a workforce of about 350 at two production facilities and manufactures products such as carburetors, electronic fuel injection kits, exhaust headers and fuel pumps.

LBC, a provider of financing solutions to middle market companies, also provided an equity co-investment to support the purchase, according to the release.