Private equity firm buys majority share of truck accessory maker

Dustin Walsh, CRAIN'S DETROIT BUSINESS

Published: July 31, 2014 10:30 am ET
Updated: August 1, 2014 2:37 pm ET

Related to this story

Topics Automotive, Mergers & Acquisitions, Automotive parts

A majority share of Ann Arbor, Mich.-based truck accessory manufacturer Tectum Holdings Inc. has been acquired by Boston-based private equity firm TA Associates Management LP.

Terms of the deal were not disclosed.

TA acquired the stake from New York private equity firm Kinderhook Industries LLC, which formed the manufacturer in 2007 by merging its assets, Ann Arbor-based Extang Corp. and Yankton, S.D.-based Truxedo Inc.

Kinderhook will maintain a minority interest in THI and seats on its board of directors, TA Associates said in a press release. Kinderkook said its THI stake translated into a $300 million return on investment.   

Since 2007, THI has increased revenue by more than 600 percent and completed seven acquisitions, including San Fernando, Calif.-based Laurmark Enterprises Inc., dba BAK Industries, in March. The company makes truck bed liners, among other accessories.

THI’s other holdings include: 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.

“THI has been growing organically much faster than the overall market, with impressive profitability,” Jeffrey Barber, managing director at TA Associates who will also join THI’s board of directors, said in a statement. “Among the industry’s growth drivers are new truck sales and a high penetration rate of tonneau cover sales for new and used vehicles, driven in part by product innovation. We anticipate that THI’s addressable market will provide for steady growth in the years ahead.”


Comments

Private equity firm buys majority share of truck accessory maker

Dustin Walsh, CRAIN'S DETROIT BUSINESS

Published: July 31, 2014 10:30 am ET
Updated: August 1, 2014 2:37 pm ET

Post Your Comments


Back to story


More stories

Image

French investment firm buys Alabama-based CSP Technologies

January 30, 2015 1:10 pm ET

A French investment firm has finalized a deal to buy CSP Technologies Inc., an Auburn, Ala., company that makes specialty plastics packaging.    More

Image

Lubrizol buys Brazil-based coatings technology manufacturer

January 30, 2015 11:50 am ET

Specialty chemicals company Lubrizol Corp. of Wickliffe, Ohio, said it has acquired a Brazilian company that makes coatings technology for products...    More

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

Plastics News Now: Losing weight with style, plastics in the Dragons' Den

January 29, 2015 6:00 am ET

A 19-year-old entrepreneur brings business to a U.K. injection molder after winning support on TV's Dragons' Den, auto suppliers combine h...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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

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

Upcoming Plastics News Events

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

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

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

More Events