Ann Arbor, Mich.-based Truck Hero Inc., a maker of truck bed covers and other truck and Jeep accessories, has bought Winfield, Kan.-based Husky Liners, a thermoformer of custom-fit floor and cargo liners and other automotive aftermarket accessories, for an undisclosed sum.
Truck Hero's existing brands include Extang, TruXedo, BedRug, UnderCover, Advantage, Retrax, BAK, A.R.E., N-FAB, and two online retailers, AutoCustoms and Real Truck.
"We're excited to welcome the Husky Liners team to the Truck Hero family of brands," Bill Reminder, Truck Hero's president and CEO, said in a news release.
Husky touts its products at fully made in the U.S. In addition to cargo and floor liners, it makes wheel well guards, mud flaps and sun shades. Truck Hero's existing firms already had polypropylene truck bed covers, composite truck caps and bed liners.
The deal is Truck Hero's 10th acquisition since its founding in 2007.
Last November, Truck Hero canceled an initial public offering, forcing executives to forgo their plans to ring the opening bell on the New York Stock Exchange.
Truck Hero had hoped to raise about $240 million in its IPO and be listed on the exchange under the symbol TRUK, according to a document filed with the U.S. Securities and Exchange Commission. But a cool market reception caused it to cancel the offering. The company had a target price per share of $19.
At the time, the company said it "will continue to evaluate the timing for the proposed offering as market conditions develop."
The company was formed as Tectum Holdings Inc. in 2007 when New York-based private equity firm Kinderhook Industries bought and merged Ann Arbor-based Extang Corp. and Yankton, S.D.-based TruXedo Inc.
Reminder was president and CEO of Extang.
In anticipation of the IPO, the name of the company was changed to Truck Hero Inc.
According to the filing for the IPO, Truck Hero had net sales of $436 million in 2014, with a net loss of $6.1 million.