PRESTWICK REPRESENTS DRAKE AND PROFORGED IN SALE TO PRIVATE EQUITY OWNED PORTFOLIO COMPANY
Prestwick is pleased to announce the sale of Drake Automotive Group and Proforged as add-on acquisitions to a platform company of a private equity group. Prestwick initiated this transaction and acted as the exclusive financial advisor to Drake, Proforged and Huron Capital in the carve-out transaction of Drake and Proforged. Huron Capital has retained ownership in its off-road businesses – DV8 Offroad and Addictive Desert Designs – and will continue its buy-and-build strategy to grow its platform focused solely on serving the off-road enthusiast.
Drake Automotive Group (www.drakeautomotivegroup.com) is the leading manufacturer and supplier of aftermarket restoration parts, restyling parts, and accessories for classic Ford Mustangs, other classic cars including Ford Bronco, and late-model Mustangs, Camaros, and Challengers. Proforged (www.proforged.com) offers a growing portfolio of chassis and suspension products serving a broad range of vehicles. Drake and Proforged are market leaders and brand destinations for automotive enthusiasts and have developed a comprehensive product portfolio of exterior and interior parts, wheels, chassis products, and accessories that addresses a wide range of restoration, customization, and replacement needs for its vehicle make and model niches.