Gryphon Investors, a private equity firm based in San Francisco, has acquired a majority interest in K&N Engineering, which makes premium air and oil filtration products for the powersports and automobile industries. Jerry Mall, one of the original founders of K&N, along with current management will continue to hold a significant investment in the company. Terms of the deal were not disclosed.
K&N invented the reusable high flow cotton air filter in 1969, and today sells more than 2 million filters each year designed for cars, trucks, motorcycles, engines and industrial applications in more than 30 countries. K&N’s products are sold through the nation’s largest auto part suppliers, as well as specialty retailers, and it is the leading air filter supplier to NASCAR.
“K&N is the leading performance filter brand, known for its authenticity and a tremendous reputation for quality,” said David Andrews, Gryphon managing partner.
“K&N is thrilled to be partnering with Gryphon, and we believe, as a result of their industry focus and operating resources, that they are the ideal partner as we embark upon our next expansion phase,” said Steve Rogers, CEO of K&N. “Consumer affinity and demand for our products continues to grow, and there are a multitude of expansion opportunities that we are excited to pursue. We believe Gryphon will help us expand within our core customer base, and attract others who want to achieve the highest performance from their vehicles.”
This is Gryphon’s second investment in the aftermarket sector. The firm previously owned MSD Ignition, a branded, consumer products company that manufactures and sells high-performance ignition components to aftermarket suppliers.
For more information about K&N, visit www.knfilters.com.