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

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Plasan investing in capacity, jobs to supply auto market with carbon fiber

September 19, 2014 3:05 pm ET

Growth in the emerging automotive market for carbon-fiber composites has spurred a $29 million investment in a Walker, Mich., factory    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Image

Toyoda Gosei expanding in Mexico

September 19, 2014 2:33 pm ET

Toyoda Gosei North America Corp. is investing $67 million in a 398,000-square-foot plant in central Mexico to supply the automotive industry with...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Market Reports

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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events