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Elgin Industries, an American manufacturer of engine and chassis components, announced a partnership with Main Street Capital Corp. to help finance the company’s long-term growth strategy.
Main Street, which acquired the equity position in Elgin, is a leading principal investment firm that works with entrepreneurs, business owners and management teams operating in a variety of industry sectors. With this strategic investment, Elgin has the capital to further leverage its advanced engineering and manufacturing technologies to meet the growing needs of original equipment and customers worldwide.
Founded in 1919 by Martin Skok, an apprentice mechanic who himself came to the United States from Czechoslovakia at the age of nine, Elgin has grown from a single-line manufacturer to a fully integrated supplier of a wide range of automotive and commercial installed components. Vehicle OEMs, engine rebuilders, machine shops, fleet maintenance businesses, technicians and performance enthusiasts. Now the company is headed by the third generation of the Skok family. The company is headquartered in Elgin, Illinois, just a few miles from the original plant.
“This is an exciting time for our family and every member of our team,” said Elgin Industries President and CEO Bill Skok. “We are proud to have engaged a partner with an impressive track record in multiple markets. This relationship reaffirms our commitment to leadership in every product category we serve.”
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