Lexington, Kentucky-based MiddleGround Capital, a private equity firm that invests in middle market B2B industrial and specialty distribution companies, acquired Race Winning Brands.

RWB is a designer, manufacturer and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiasts and racing consumers. The company consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments.

Financial details of the acquisition were not disclosed.

MiddleGround has closed eight deals in the past 60 days with combined enterprise values of approximately $1.4 billion.

MiddleGround earlier this year raised over $1 billion for a second flagship fund and an overflow vehicle dedicated to the firm’s mobility strategy.

“We are very excited to be partnering with Bob Bruegging, Josh Vogel, and the rest of the Race Winning Brands team as we look to usher the company into its next stage of growth,” MiddleGround Founding Partner John Stewart said. “RWB has a strong culture of continuous improvement with a focus on new product development that allows the company to offer a wide breadth of innovative, customized, performance-enhancing products for its enthusiasts and customer base. We look forward to further enhancing RWB’s leading position in the market by leveraging the company’s engineering expertise, coupled with our Operation Team’s automotive aftermarket experience and network, to expand into new product and vehicle applications – both organically and through complementary acquisitions to the platform.”