Investment funds managed by Morgan Stanley Capital Partners (MSCP), a middle-market focused private equity team at Morgan Stanley Investment Management, have completed an investment in Nivel Parts & Manufacturing (Nivel), sold by funds managed by Kelso & Company. MSCP is partnering with the current management team led by Brent Moore, who will remain as CEO.
Headquartered in Jacksonville, FL, Nivel is the leading manufacturer and supplier of branded aftermarket parts for personal transportation vehicles, utility terrain vehicles and heavy-duty equipment. The Company offers over 100,000 SKUs in accessories and maintenance parts across the full vehicle lifecycle to a diversified customer base including dealers, distributors and consumers.
Aaron Sack, Managing Director and Head of Morgan Stanley Capital Partners, says: “We are delighted to partner with Nivel and its talented management team led by Brent Moore. The Company has differentiated itself through continued product innovation across vehicle categories and by providing best-in-class customer service to its highly passionate customer base. We look forward to working with Brent and the team to further scale the company through organic growth and strategic acquisitions.”
Nivel is the team’s most recent investment following AWT Labels & Packaging in December 2020 and US HealthConnect in October 2020 and represents a continuation of MSCP’s focus on high-growth, consumer enthusiast companies with strong competitive advantages.
“We could not be more excited to be working with Morgan Stanley Capital Partners as we enter this exciting new phase,” says Brent Moore, CEO of Nivel. “Our team has always been uniquely focused on delivering a seamless experience and comprehensive product array to our customers. With MSCP’s deep expertise in advancing client-centric companies on their growth trajectories, we will be well-equipped to expand our current capabilities and products while continuing to provide the highest quality service to our customers.”
Jones Day acted as legal advisor to MSCP.
