Ropes & Gray advised Gauge Capital in the recapitalization of Engine & Transmission Exchange in partnership with the founders and management of ETE. Founded in 1985 and headquartered in Milwaukee, WI, ETE is a leading, independent aftermarket transmission remanufacturer focusing on non-discretionary automotive repairs. Gauge announced the transaction in a May 31 press release. Financial terms were not disclosed.
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas that manages over $2 billion in capital across five key sectors: business services, food & consumer, government & industrial services, healthcare and technology.
The Ropes & Gray team was led by private equity partner Matt Richards, finance partner Greg Bauer, tax partner Aaron Harsh, environmental partner Peter Alpert, real estate investments & transactions partner David Kaye, employment partner Richard Kidd and executive compensation & employee benefits partner Matt Jones.
