American Capital Ltd. announced today that its portfolio company Dynojet Research Inc. was sold to Irving Place Capital and New Value Capital.
Established in 1972, Dynojet is a manufacturer of aftermarket performance-enhancing parts and accessories as well as diagnostic equipment for powersports vehicles, including motorcycles, ATVs, snowmobiles and automobiles. The company’s product offering includes fuel management solutions that optimize engine performance and efficiency, diagnostic equipment and ignition products and coils, which are sold globally through a network of distributors and dealers. Dynojet is headquartered in Las Vegas, and maintains locations in Montana and Holland.
“American Capital has been fortunate to partner with a strong management team that has preserved Dynojet’s leadership in the powersports market while driving innovation and growth,” said Dustin Smith, American Capital managing director.
American Capital invested in the One Stop Buyout of Dynojet in November 2007. American Capital’s investment took the form of a revolving credit facility, senior term loan, senior subordinated debt and equity.