Graycliff Partners Announces Credit and Equity Co-Investment in ATRO
Graycliff Partners and Five Points Capital announced today an investment in support of Alitus Partners’ acquisition of ATRO Engineered Systems. Graycliff and Five Points each invested unitranche debt and equity co-investment through their dedicated credit funds.
Headquartered in St. Claire, Missouri, ATRO Engineered Systems (“ATRO”) is a leading designer, manufacturer and distributor of polyurethane parts for heavy-duty trucks and equipment. The Company was founded in 1987 with the development of a proprietary blend of polyurethane and an innovative, patented design to make torque rod bushings that lasted longer and performed better than competitive rubber products. The Company has grown from a handful of products to a full line up of bumper to bumper parts and has become the market leader of polyurethane products in the aftermarket heavy-duty truck category.
“We are excited about our partnership with Alitus and Five Points. ATRO is a leader in the aftermarket polyurethane segment and we look forward to working with the team at ATRO to continue propelling the Company forward”, said Brian O’Reilly, Managing Director, Graycliff Partners.
“ATRO has a long history of delivering product innovation and exceptional customer service. We look forward to supporting the ATRO team and Alitus as they continue to build upon the Company’s strong foundation,” said Jonathan Blanco, Five Points Managing Partner. “Five Points and Graycliff worked together to deliver an attractive and efficient capital solution to close this transaction and are committed to supporting the Company with additional capital and resources in the future.”
“We are very pleased to have Graycliff and Five Points as our primary capital providers,” said Keith Harbison, Founder and Managing Partner of Alitus Partners, “they delivered a compelling debt and equity package in a difficult market environment.”
About ATRO
Celebrating 33 years of operations, ATRO designs, manufactures and distributes polyurethane parts for applications such as torque rods, suspension parts, under-hood/cap and trailer part components. Compared to rubber alternatives, ATRO’s polyurethane solutions are stronger and more durable. ATRO delivers on promises and in return customers have made them the preeminent leader for polyurethane parts in the class 8 heavy-duty truck aftermarket. Find out more at www.atrobushing.com.
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on making lower middle market investments. Through dedicated equity and credit funds, Graycliff seeks to invest in companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion.
Graycliff Partners’ dedicated credit platform manages over $650 million of committed capital and provides financing solutions to lower middle market companies with $3 million to $40 million of EBITDA.
Graycliff is actively seeking new opportunities to deploy capital via unitranche debt, subordinated debt, or minority equity. Please reach out to anyone on the Graycliff team – we are happy to discuss new potential opportunities.