Gryphon Investors Acquires Majority Stake in K&N Engineering
Private equity firm Gryphon Investors has acquired a majority interest in automotive air- and oil-filtration product manufacturer K&N Engineering. According to a release, Jerry Mall, one of the original founders of K&N, along with current management will continue to hold a significant investment in the company. The terms of the transaction were not disclosed.
K&N Engineering was founded in 1964 and currently has offices in the United Kingdom and the Netherlands.
“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 United States, while accelerating its international expansion.”
According to a release, this is Gryphon’s second investment in the automotive aftermarket sector. The firm previously owned MSD Ignition.