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
Companies & Associations

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

Jaguar Land Rover to begin using MuCell across its product line

April 27, 2015 9:47 am ET

Another automaker has announced plans to use Trexel Inc.'s MuCell molding technology in future production.    More

Image

Haitian builds system for Renault's new China auto assembly plant

April 24, 2015 11:10 am ET

A late-comer to the world's largest auto market, French carmaker Renault SA is currently building its first factory in China.    More

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Jeco adds Ferry rotational molder to handle increase in business

April 23, 2015 12:27 pm ET

Jeco Plastics Products LLC is ramping up for more work, adding a new Ferry 2600 rotational molder that will provide more capabilities.    More

Image

Engel, VW working on joint research into high volume composites in auto

April 23, 2015 9:40 am ET

Engel, the Austria-based manufacturer of injection molding machines, is building one of its largest machines for a research center looking into integr...    More

Market Reports

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events