Carousel Capital announced today that it has exited Simpson Performance Products (“Simpson” or the “Company”), the leading provider of critical motorsports safety equipment. The company was acquired by Bruckmann, Rosser, Sherrill & Co. of New York.
Founded in 1959, Simpson has built a loyal following in the motorsports community among both professional and amateur drivers. Simpson’s comprehensive selection of advanced safety products includes head and neck restraints, helmets, firesuits, seat belts, window nets, parachutes, racing gloves and footwear. In addition to the respected Simpson brand, the Company designs, manufactures and markets the leading HANS brand of advanced head and neck restraints.
“We are very pleased with our successful exit from Simpson”, said Charles Grigg, a Managing Partner of Carousel Capital. “While we are disappointed that our partnership with CEO Chuck Davies and his management team has concluded, we are thrilled that they will be working with Bruckmann, Rosser, Sherrill & Co. and wish them continued success.”
“Carousel Capital has been an exemplary firm to work with over the duration of their investment,” said Chuck Davies, Chief Executive Officer of Simpson. “Their strategic assistance, patience and their strong culture of partnership with our management team created a terrific working relationship and a successful outcome for all of us”, he said.
Fidus Partners acted as financial advisor to Carousel Capital in the transaction. K&L Gates LLP acted as the firm’s legal advisor.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 34 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.