Investcorp, the alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, and Riverside Investment Company have sold their stake in Arrowhead Engineered Products. The companies sold the stake in AEP to a US-based private equity investment firm <a href="http://www.gencap.com/">Genstar</a>, Investcorp said on Wednesday. It did not disclose the financial details of the deal. Riverside acquired a majority stake in AEP in 2015 and Investcorp subsequently took a “significant minority stake” in 2016. The companies carried out several value-creation initiatives during their investment period in AEP, which led to "over five times revenue growth of the platform", Investcorp said. “During our investment period, and working closely with management and the Investcorp team, we exponentially grew AEP’s e-commerce presence, expanded its international footprint, enhanced the sales and marketing organisations and entered new end markets,” said Brad Roberts, Riverside co-chief investment officer. Founded in 1985, AEP is a global engineer and omnichannel distributor of non-discretionary, proprietary-branded, aftermarket replacement parts for outdoor power equipment, power-sports, speciality vehicles, agriculture and other sectors. Riverside has globally invested in more than 250 speciality manufacturing and value-added distribution companies. Investcorp, which has assets worth more than $37bn under management, also invests across speciality distribution sectors. The Bahrain-based company, which has been on a deal-making spree in recent quarters, made five new private equity investments in the US and Europe, two add-on acquisitions and 11 investments in businesses across Asia in 12-months to June-end. It also spun off six private equity investments and sold several property assets in the US and Europe during the past financial year, it said in August. Investcorp swung to full-year profit as assets under management grew and investment activity improved despite Covid-19 headwinds. Net profit attributable to the equity holders of the parent for the financial year ended June 30 rose to $124 million, from a loss of $165m a year earlier, the alternative asset manager said in August.