River Associates Announces Acquisition of Horsepower Automotive Group

River Associates Investments, L.P. has completed the acquisition of Horsepower Automotive Group, a company specializing in aftermarket automotive products, on June 11, 2026. The financial terms of the transaction remain undisclosed. This acquisition represents River Associates' third platform investment within the automotive aftermarket sector, further solidifying its presence in this growing market.

Horsepower Automotive Group, headquartered in Chandler, Arizona, caters to a diverse range of enthusiast vehicle platforms, including popular brands such as Ford, Mercedes, Jeep, Chevrolet, Toyota, Ram, and Lexus. The company is recognized for its extensive portfolio of aftermarket brands, which includes Flatline Van Co., DV8 Off-Road, Addictive Desert Designs, C4 Fabrication, and Rago Fabrication. These brands focus on designing, manufacturing, and distributing performance parts and accessories tailored for off-road, overlanding, and adventure vehicle applications. The company utilizes a multi-channel approach, serving customers through direct-to-consumer websites, aftermarket channels, and partnerships with upfitters and distributors.

The strategic rationale behind River Associates' investment in Horsepower lies in the growing demand for aftermarket automotive products, particularly in the off-road and overland segments. As vehicle enthusiasts increasingly seek to customize their vehicles for enhanced performance and adventure capabilities, companies like Horsepower are well-positioned to capitalize on this trend. River Associates aims to leverage its expertise in the automotive aftermarket to support Horsepower's growth initiatives, including new product development and expansion of manufacturing capabilities.

River Associates funded the acquisition through its eighth investment fund, River VIII, L.P., which has a total of $345 million in committed capital. The firm has a history of investing in lower middle-market companies and has completed over 125 transactions since its inception in 1989. The firm is known for its focus on niche manufacturers and high-margin distributors, making Horsepower a fitting addition to its portfolio.

Looking ahead, River Associates and the management team at Horsepower plan to pursue strategic add-on acquisitions that will complement and enhance the existing platform. The focus will be on businesses that manufacture or supply off-road and overland aftermarket equipment, parts, and accessories, as well as those that serve enthusiast vehicle platforms. This proactive approach is expected to further strengthen Horsepower's market position and drive growth in the automotive aftermarket sector, which continues to show resilience and potential for expansion.