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Cloyes

Cloyes is the North American leader and global designer, developer, manufacturer and distributor of mission-critical timing drive systems and components for the automotive aftermarket. Founded in 1921, the Company leverages their superior quality and best-in-class VIO (“vehicles in operation”) coverage to produce mission critical components used in high-performance and replacement applications. Cloyes serves a broad customer base, including wholesale distributors, national and local retailers, re-packagers, and production engine builders, and sells its products under the Cloyes® brand throughout North America and Dynagear® in Mexico.

MidOcean has spent significant time in the auto aftermarket space through its dedicated initiative, with Cloyes marking MidOcean’s third investment in the sector. MidOcean identified Cloyes as a unique opportunity to invest behind a high quality asset of scale operating in a fragmented market that will continue to benefit from multiple strong macro tailwinds. MidOcean has assembled a group of highly talented operating resources across multiple functional and strategic areas to complement the existing management team and help the company excel in its next phase of growth.

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https://www.cloyes.com/

Investment Date: February 2022
Sector: Consumer
Status: Current
Deal Lead: Daniel Penn

Add-On Acquisition Criteria

Status: Actively seeking add-ons;
flexible criteria

Related News & Media

February 22, 2022
MidOcean Partners Acquires Cloyes, a Leading Platform in Auto Aftermarket Products

Cloyes

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MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.

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