HORSEPOWER AUTOMOTIVE GROUP HAS BEEN ACQUIRED BY RIVER ASSOCIATES

Prestwick is pleased to announce the sale of Horsepower Automotive Group (“Horsepower”) to River Associates. Prestwick acted as the exclusive advisor to Horsepower and its private equity owner, Huron Capital. The terms of the transaction were not disclosed.

Horsepower (www.horsepowerautomotivegroup.com) is a Phoenix, Arizona-based automotive aftermarket platform comprised of five premium brands, including Flatline Van Co., DV8 Off-Road, Addictive Desert Designs, C4 Fabrication, and Rago Fabrication.  Horsepower is a leading designer and manufacturer of a broad spectrum of on-trend and durable aftermarket products serving off-road, overlanding, and adventure vehicle applications, including front and rear bumpers, other exterior armor, and interior and exterior storage solutions.  Horsepower has built an omni-channel presence with its brands, including direct-to-consumer, vehicle upfitters, and distributors.

River Associates (www.riverassociates.com) is a private equity firm based in Chattanooga, TN, which has focused exclusively on investing in the lower middle market for over 35 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies in the U.S. and Canada with initial EBITDA in the $3-12 million range. River Associates is opportunistic as to industry and has invested in numerous niche manufacturers, high margin distributors, industrial service providers and business service companies. Since its founding in 1989, River Associates has completed 125 transactions and is investing its eighth investment fund with $345 million of committed capital.