BB&T Capital Markets Powers Cobb Tuning in Sale to Promus Equity / Auto Meter
About the Companies
COBB Tuning Products is a leading full-line designer and supplier of performance products for select Subaru, Mazda, Mitsubishi, Nissan, Ford, BMW, and Porsche models. COBB Tuning was founded by Trey Cobb and has consistently led its market with innovative products using the latest technology. COBB Tuning is headquartered in Austin, Texas and also has three retail locations in Plano, TX, Portland, OR, and Fountain Valley, CA.
New Value Capital is a different kind of private equity firm. New Value’s team has devoted the majority of their professional lives to successfully running, growing and acquiring enthusiast businesses, giving them a unique strategic edge in sourcing and executing more niche, high-passion transactions. Their focus is on investing in and growing companies in enthusiast industries because these companies offer the benefits of strong and defensible margins, passionate customers and growing market segments.
Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management firm based in Chicago, IL. Promus targets healthy, lower-middle market companies with EBITDA of $15 million or less. Members of the Promus team are proven investors with wide-ranging experiences over numerous economic cycles in a variety of industries. As a family office with a flexible investment mandate, they think creatively and allow each opportunity to guide their investment structure and duration absent the constraints imposed by traditional private equity funds. Their success relies upon partnering with managers and business owners to collaboratively develop plans to accelerate growth and increase value.
Auto Meter is a leading developer and manufacturer of specialty automotive instrumentation systems, as well as battery and electrical system test and charging equipment. The company operates out of a 93,000 square foot facility in Sycamore, Illinois and distributes its products to over 600 customers within the specialty warehouse distributor, retailer and OEM channels. Auto Meter products are used through-out the world and are relied upon by professional racers from NASCAR, to NHRA, to Formula teams as well by sportsmen racers and by street enthusiasts. Auto Meter test equipment is used by the world’s leading automotive retail and service organizations.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.