DuraBrake, a provider of brake and wheel-end components for heavy duty commercial vehicles, announced a significant investment from Tiger Lily Holdings, an independent investment firm. The existing Shroff family ownership group will remain meaningful equity owners and continue to comprise the DuraBrake senior leadership team, the company said.
“We are excited to partner with Tiger Lily. We believe its investment philosophy aligns well with DuraBrake’s long-term strategy, and will allow us to accelerate our growth plans, continue to invest in new products and markets and improve our value proposition to customers and partners,” said Neil Shroff, DuraBrake chief executive officer, mergers and acquisitions specialist.
“We see the opportunity to support the continued expansion of the business through growth in new products and serving new geographies” said Scott Cullerton, managing member at Tiger Lily. “We will also be opportunistic in further expediting growth through strategic acquisitions.”
