Gryphon Investors, San Francisco, a middle-market private equity company, announced Dec. 24 that it had acquired a majority interest in K&N Engineering, a provider of air and oil filtration products for the automobile industry. Jerry Mall, one of the original founders of K&N, along with current management will continue to hold a significant investment in the company. Terms of the deal were not disclosed.
Based in Riverside, Calif., K&N invented and manufacturer of washable performance air filters and air intake systems, designed to increase a vehicle’s horsepower. Founded in 1964, K&N also has operations in the United Kingdom and the Netherlands.
The filter maker noted the majority-stakes acquisition will help it expand more internationally.
K&N said it annually sells more than 2 million filters for cars, trucks, motorcycles, engines and industrial applications in more than 30 countries.
This is Gryphon’s second investment in the automotive aftermarket sector. The firm previously owned MSD Ignition, a branded, consumer products company that manufactures and sells high-performance automotive ignition components to aftermarket suppliers.