NEW YORK, NY— May 21, 2021 08:30 AM EDT

Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the middle-market focused private equity team at Morgan Stanley Investment Management, have completed an investment in Nivel Parts & Manufacturing (“Nivel” or the “Company”), sold by funds managed by Kelso & Company. MSCP is partnering with the current management team led by Brent Moore, who will remain as CEO.

Headquartered in Jacksonville, FL, Nivel is the leading manufacturer and supplier of branded aftermarket parts for personal transportation vehicles, utility terrain vehicles and heavy-duty equipment. The Company offers over 100,000 SKUs in accessories and maintenance parts across the full vehicle lifecycle to a diversified customer base including dealers, distributors and consumers.

Aaron Sack, Managing Director and Head of Morgan Stanley Capital Partners, said, “We are delighted to partner with Nivel and its talented management team led by Brent Moore. The Company has differentiated itself through continued product innovation across vehicle categories and by providing best-in-class customer service to its highly passionate customer base. We look forward to working with Brent and the team to further scale the company through organic growth and strategic acquisitions.”

Nivel is the team’s most recent investment following AWT Labels & Packaging in December 2020 and US HealthConnect in October 2020 and represents a continuation of MSCP’s focus on high-growth, consumer enthusiast companies with strong competitive advantages.

“We could not be more excited to be working with Morgan Stanley Capital Partners as we enter this exciting new phase,” said Brent Moore, CEO of Nivel. “Our team has always been uniquely focused on delivering a seamless experience and comprehensive product array to our customers. With MSCP’s deep expertise in advancing client-centric companies on their growth trajectories, we will be well-equipped to expand our current capabilities and products while continuing to provide the highest quality service to our customers.”

Jones Day acted as legal advisor to MSCP.

About Morgan Stanley Capital Partners

Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 731 investment professionals around the world and $1.4 trillion in assets under management or supervision as of March 31, 2021. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

About Nivel Parts & Manufacturing

Founded in 1968, Nivel is a global manufacturer, distributor, and seller of aftermarket parts and accessories for niche vehicles and heavy-duty equipment. It is a trusted business partner to thousands of dealers, distributors, and consumers in the US and international markets. Nivel owns the most valuable brands in the aftermarket niche vehicle parts and accessories categories: MadJax, Red Dot, GTW, Jake's, Reliance, Seizmik and High Lifter. For more information, please visit the Company’s website www.nivel.com/.