Equity Group Takes Over Raybestos Brake Parent

Private equity firm Torque Capital Group has acquired Brake Parts Inc., the parent of Raybestos brand brake components.

Previous Raybestos owner Affinia Group Holdings spun off the brake component brand to a group of shareholders last November. Torque Capital Group and a group of investors then stepped up to take over the operation.

“Now that the deal has been completed, the BPI team along with our strategic partners are eager to move forward,” said president and CEO David Overbeeke. “Brake Parts Inc. has a strong heritage of leading the category in product quality and innovation, first to market applications and superior customer service.”

Joseph Parzick, managing partner of Torque Capital Group, said, “Torque and our investors were particularly attracted to BPI’s strong management team and their leading market position in the North American brake parts aftermarket. We are excited by the prospect of leveraging the Raybestos brand of brake products to drive international sales growth, particularly in Asia.”

Ascot Supply Corporation, based in Newnan, Georgia, has selected Mark Paquette for the newly created position of vice president. In this position, Ascot Supply said Paquette will oversee the growth of the company's products, corporate profitability, manage marketing and advertising and assume many other responsibilities.

He will work under the direction of current President David Kessler and officially begin his new role on June 3. Paquette joined the tire and automotive industry in the early 1980s at his father's tire shop, and his contributions to Mohawk Rubber Sales were instrumental in the company's growth and eventual sale to Myers Tire Supply in 2021, according to Ascot Supply. Paquette eventually was given a promotion to the role of director of operations at Myers Tire Supply.