Ridgemont Equity Partners Acquires Majority Stake in Aurora Parts & Accessories
July 14, 2011
Ridgemont Equity Partners, a middle market buyout and growth equity firm, today announced the closing of a majority equity investment in Aurora Parts & Accessories, LLC, a leading distributor of aftermarket and replacement semi-trailer parts and accessories based outside Indianapolis, IN. The financial terms of the transaction were not disclosed.
Aurora operates from an approximately 300,000 square foot distribution center as a supplier of semi-trailer body parts, truck body and container/chassis parts to a network of independently owned trailer dealerships. Aurora is the exclusive supplier for Wabash National, Fruehauf and Lufkin Trailer. Aurora also has strategic distribution agreements with Hyundai and Kentucky Trailer.
“Our partnership with Ridgemont is exciting on many fronts,” said David Clarke, President and CEO of Aurora. “In addition to the capital that they bring to the table, Ridgemont also provides expertise in transportation parts supply and distribution that will be critical in driving the expansion of our business.”
“We are pleased to add Aurora to our portfolio, as the profile of the company is an excellent fit for our investment strategy. We firmly believe in the growth potential of the business and the strength of its leadership,” said Travis Hain, Managing Partner at Ridgemont. “This closing marks Ridgemont’s fourth investment as an independent firm. Other recent Ridgemont investments include M3 Midstream, Unite Private Networks, and Gallus BioPharmaceuticals.”
Financing for this transaction included NXT Capital, DE Shaw Direct Capital Portfolios, L.L.C., a member of the D. E. Shaw group of companies and BB&T Capital Partners Mezzanine Fund II, LP. K&L Gates LLP acted as legal advisor to Ridgemont. Stephens Inc. acted as financial advisor to Aurora.
About Aurora Communications, Inc.
As of March 28, 2002, Aurora Communications, LLC was acquired by Cumulus Media, Inc. Aurora Communications, LLC is a privately held company formed to acquire and operate small market radio stations throughout the United States.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65B of committed capital.