Baird's Investment Banking Group is pleased to announce the following transaction:

May 2021
Nivel Parts & Manufacturing Co., LLC
Sale to Investment Funds Managed by Morgan Stanley Capital Partners
Baird served as the lead financial advisor to Nivel Parts & Manufacturing Co., LLC on this transaction

Nivel Parts & Manufacturing Co., LLC (“Nivel” or the “Company”), a portfolio company of Kelso & Company, L.P. (“Kelso”), was recently acquired by Investment Funds Managed by Morgan Stanley Capital Partners (“MSCP”). Terms of the transaction were not disclosed.

Nivel is the leading provider of branded aftermarket parts for personal transportation vehicles, utility terrain vehicles and heavy-duty equipment. Founded in 1968, the Company offers over 100,000 SKUs in accessories and maintenance parts across the full vehicle lifecycle to its diversified base of dealer, distributor and direct-to-consumer customers. Nivel is Headquartered in Jacksonville, Florida.

Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested over $15 billion of equity capital in 132 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm's investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured and stable investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in and supporting high-growth distribution platforms. Kelso is based in New York, New York.

Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach.

For additional information about this transaction, please contact:

Mike Lindemann +1-414-298-7408
Jason Kliewer +1-813-273-8242
Nick Troyer +1-813-273-8204
Dan Pelech +1-414-298-1940
Jeff Seaman +1-312-609-4687
Thomas Fetzer +49-69-1301-4920