Morgan Stanley buying vehicle parts maker Nivel

Investment company Morgan Stanley Capital Partners is buying Nivel Parts & Manufacturing, sold by funds managed by Kelso & Company, Report informs referring to The Wall Street Journal.

The companies didn’t disclose the financial terms of the deal, however, Morgan Stanley Capital Partners usually invests in companies with a value of $100 million to $750 million, with EBITDA ranging within $10-75 million.

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.

Aaron Sack, Managing Director and Head of Morgan Stanley Capital Partners, said, "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."

Founded in 1968, Nivel is a global manufacturer, distributor, and seller of aftermarket parts and accessories for niche vehicles and heavy-duty equipment. It is a trusted business partner to thousands of dealers, distributors, and consumers in the US and international markets.

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.