Investcorp, a Bahrain-based alternative investment management firm, and global private investor Riverside Co. have sold Arrowhead Engineered Products (AEP) to Genstar, a private equity firm, Investcorp said in a statement on Wednesday.
The financial terms of the transaction were not disclosed.
US-based AEP is a supplier of aftermarket replacement parts for diverse off-road end markets, in which Riverside acquired a majority investment in 2015.
Investcorp subsequently acquired a significant minority stake in AEP in 2016.
Yusef Al Yusef, managing partner of Investcorp’s private wealth platform, said “We have worked closely with Riverside and AEP, to expand and strengthen the platform to better serve customers in the off-road end markets space in North America and Europe. We look wish the company all the success as it moves forward with its growth journey”.
Jefferies, Baird, Jones Day and Alvarez & Marsal advised Riverside, Investcorp and AEP on this transaction.
