Even after a challenging year, the acquisition of companies continues to take place. For those of you that aren’t familiar with Truck Hero (formerly Tectum Holdings, Inc), here is a little information from their website. We are pretty sure you have heard of one of their brands:
Headquartered in Ann Arbor, Michigan, Truck Hero provides consumers a full range of branded automotive accessories for trucks, Jeep® brand vehicles and cars, with market leading functionality, engineering, quality, and design.
The breadth of Truck Hero’s product offering is vast, including hard and soft truck bed covers, truck caps, bed liners, floor liners, fender flares, steps, suspension kits, Ventvisors®, Jeep parts and off-road accessories. Your ability to personalize and enhance the functionality and aesthetics of your vehicle is endless with our innovative products born from high-quality materials, superior engineering and cutting-edge manufacturing.
Truck Hero’s industry leading family of brands includes Advantage Truck Accessories™, Alloy USA™, AMP Research®, A.R.E.®, Auto Ventshade®, BAK Industries®, BACKRACK®, BedRug®, Belmor®, Bushwacker®, Extang®, Husky Liners®, LUND®, N-FAB®, Omix™, Rampage Products®, Retrax®, RoadWorks®, Roll-N-Lock®, Rugged Liner®, Rugged Ridge®, Stampede™, Superlift®, Tonno Pro®, TruXedo® and UnderCover®.
Truck Hero, Inc., announced that they have entered into a definitive agreement under which L Catterton, the largest and most global consumer‐focused private equity firm in the world, and its investors will acquire a controlling interest in Truck Hero, a leading provider of highly functional aftermarket accessories for pickup trucks and Jeeps®. CCMP Capital Advisors, LP (“CCMP”), the current holders of a majority interest in Truck Hero, and Truck Hero’s founding Chief Executive Officer, Bill Reminder, will remain significant investors as part of the transaction. Mr. Reminder will retain his current leadership position. Terms of the transaction were not disclosed.
A little information about L. Catterton:
With over $22 billion of equity capital across its fund strategies and 17 offices globally, L Catterton is the largest and most global consumer‐focused private equity firm in the world. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands.