Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to TransGo, a Los Angeles-based specialty manufacturer of automotive transmission parts, on its recapitalization by Five Points Capital.
Founded in 1959, TransGo is a specialty manufacturer and designer of automotive transmission valve body parts that are used to repair faulty automatic transmissions. The Company’s products exclusively address automatic transmission valve bodies, one of the most technically complex parts of a transmission and a necessary component of nearly every transmission overhaul/repair. Due to TransGo’s rich technical knowledge base and robust product offering, Five Points Capital found the Company to be an attractive investment opportunity with steady demand characteristics.
A unique characteristic of this deal is that a significant portion of the proceeds were given directly to a selection of charities, along with existing employees. These extensive charitable donations fulfilled a promise to TransGo’s late founder, Dr. Gilbert W. Younger, continuing his longstanding philanthropic legacy supporting numerous national and international charities. Cascadia was especially pleased to work with the TransGo management team in an effort to successfully execute this transaction to realize these unique and commendable goals.
“Cascadia is pleased to have helped TransGo find the ideal partner in Five Points Capital, and as a result complete Gil Younger’s admirable legacy of giving,” said Paul Louie, Managing Director, Cascadia Capital. “Our firm’s long-term approach to client partnership ensured we could identify a partner who recognized TransGo’s significant value and potential for growth.”
“Cascadia was an impressive partner, leveraging their extensive industry experience and advising TransGo in order to help us find a like-minded and well-matched partner,” said TransGo’s David Hardin. “Cascadia never lost sight of our strategic imperatives. Their trusted guidance not only ensured we will continue to grow, but also helped fulfill Gil’s wishes to help multiple charitable causes, including the building of schools in underdeveloped nations.”
This acquisition represents another successful transaction for Cascadia’s Automotive Aftermarket practice. Other recent transactions include the sale of Rosen Electronics to AAMP and the financing of Pilot Automotive.
For more information, please contact the Cascadia Capital deal team: