Private equity firm Transportation Resource Partners, LP (TRP) has acquired Cycle Express, LLC, a company doing business as National Powersport Auctions (NPA), from Falconhead Capital, LLC.
Serving the powersports industry since 1990, NPA, Poway, Calif., auctions vehicles out of its San Diego, Dallas, and Atlanta facilities. NPA's live auctions take place once a month at each facility and can be attended in person or online via the Internet. Vehicles that are auctioned are either repossessed, salvage, or consignment units owned by companies seeking liquidity. Buyers are typically dealers trying to meet consumer demand.
TRP is a $265 million private equity fund that makes leveraged investments in growth-oriented companies operating in the transportation and transportation services industries. TRP's philosophy is to identify attractive investment situations where it can work in partnership with management to support growth.
Terms of the deal were not disclosed.
Copyright 2006 Powersports Business