Warren Equity Partners LLC paid an undisclosed sum to acquire a majority stake in Humble, Texas-based Magneto & Diesel Injector Service Inc. from that company's founding family.
The founding Ingram family invested alongside Warren Equity in the deal and will remain involved on Magneto's board.
Magneto provides aftermarket parts and accessories for diesel-powered engine repair and maintenance, primarily in Texas, Oklahoma and Louisiana. It has eight facilities and serves more than 12,000 customers ranging from mechanics and independent repair shops to authorized service dealers and individual owner-operators.
Warren Equity backs small and middle-market companies operating in the industrial, infrastructure and business services sectors, particularly those in North America.