Tectum Holdings buys California truck cargo cover manufacturer

Dustin Walsh
CRAIN’S DETROIT BUSINESS

Published: March 19, 2014 10:15 am ET
Updated: March 19, 2014 10:16 am ET

Related to this story

Topics Automotive, Mergers & Acquisitions

Ann Arbor,Mich.-based Tectum Holdings Inc. expands its truck bed liner offerings Tuesday with the acquisition of bed liner and tonneau cover manufacturer Laurmark Enterprises Inc.

Terms of the deal were not disclosed.

San Fernando, Calif.-based Laurmark, dba BAK Industries, is the seventh acquisition under the THI platform, which is controlled by New York private equity firm Kinderhook Industries LLC.

Bill Reminder, CEO of THI, said in a news release that BAK’s hard-folding BAKflip tonneau cover and online marketing expertise sparked THI’s interest in the acquisition. Tonneau covers are used to protect the cargo bed in a pickup truck.

“BAK has been extremely instrumental in the innovation and growth of the hard-folding tonneau category, THI’s COO Kelly Kneifl said in a news release.

THI declined to discuss revenue for either company but said the total headcount is now 1,100 employees.

THI’s other truck accessory businesses include: Ann Arbor-based Extang Corp.; Yankton, S.D.-based Truxedo Inc.; Rogersville, Mo.-based UnderCover Inc.; Ann Arbor-based Advantage Truck Accessories Inc.; Grand Forks, N.D.-based Retrax Holdings LLC; and Old Hickory, Tenn.-based BedRug Inc.

New York-based Madison Capital Funding LLC provided financing for the deal. Kirkland & Ellis served as legal counsel for THI and Michelman & Robinson LLP served as legal counsel for BAK.


Comments

Tectum Holdings buys California truck cargo cover manufacturer

Dustin Walsh
CRAIN’S DETROIT BUSINESS

Published: March 19, 2014 10:15 am ET
Updated: March 19, 2014 10:16 am ET

Post Your Comments


Back to story


More stories

Image

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Image

Amut buys Dolci and Bielloni

February 25, 2015 3:41 pm ET

Amut SpA, the Novara, Italy-based maker of extruders, thermoforming machines and plastics recycling equipment, has acquired the Italian company that m...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events