SAN FRANCISCO – Gryphon Investors, a middle market private equity firm based in San Francisco, acquired a majority interest in K&N Engineering, which makes premium air and oil filtration products for the automobile industry. Jerry Mall, one of the original founders of K&N, along with current management will continue to hold a significant investment in the company. Terms of the deal were not disclosed.
 
Based in Riverside, Calif., K&N is a leading leading manufacturer of washable performance air filters and air intake systems, which are designed to increase a vehicle’s horsepower and last for the life of a vehicle. Founded in 1964, K&N today also has operations in the United Kingdom and the Netherlands.
 
K&N invented the reusable high flow cotton air filter in 1969, and today sells more than 2 million filters each year designed for cars, trucks, motorcycles, engines and industrial applications in more than 30 countries. K&N’s products are sold through the nation’s largest auto part suppliers, as well as specialty retailers, and it is the leading air filter supplier to NASCAR.
 
“K&N is the leading performance filter brand in the automotive space, known for its authenticity and a tremendous reputation for quality,” said Gryphon Managing Partner David Andrews.
 
Keith Stimson, Gryphon Partner and head of its Consumer Products and Services Group, added, “Auto enthusiasts have sworn by K&N products for more than 40 years, and we look forward to working with K&N’s talented management team to further build its brand in the U.S., while accelerating its international expansion.”
 
“K&N is thrilled to be partnering with Gryphon, and we believe, as a result of their industry focus and operating resources, that they are the ideal partner as we embark upon our next expansion phase,” said Steve Rogers, CEO of K&N. “Consumer affinity and demand for our products continues to grow, and there are a multitude of expansion opportunities that we are excited to pursue. We believe Gryphon will help us expand within our core customer base, and attract others who want to achieve the highest performance from their cars and trucks.”
 
This is Gryphon’s second investment in the automotive aftermarket sector. The firm previously owned MSD Ignition, a branded, consumer products company that manufactures and sells high-performance automotive ignition components to aftermarket suppliers.