INDUSTRY: San Francisco investors acquires stake in K&N
A San Francisco investment firm has snapped up a majority stake in Riverside-based K&N Engineering with plans to work with existing management to build the manufacturer’s brand and speed expansion overseas.
The longtime Inland company manufactures air and oil filtration products for the automotive industry. Founded in 1964, K&N today sells more than two million filters a year in 30 countries for automobiles, motorcycles, engines and industrial equipment.
Gryphon Investors, a private equity firm that specializes in buying and building up middle-market companies, will work with K&N’s existing management team to build the brand in the U.S. and speed expansion into international markets, according to Keith Stimson, a partner in Gryphon and head of the firm’s consumer products and services group, in a news release.
The size of Gryphon’s investment and other terms of the deal were not disclosed.
K&N, located along Citrus Avenue near Iowa Street, operates from more than 400,000 square feet of space and employs about 600 people. The company also has operations in the U.K. and the Netherlands.