A.R.E. Accessories, LLC (A.R.E.), a portfolio company of Crystal Ridge Partners and Defiance Partners, has been sold to Tectum Holdings, Inc. (THI), a portfolio company of TA Associates, LLC. Financial details have not been disclosed.
Headquartered in Massillon, Ohio, A.R.E Accessories is the world’s single largest selling brand of highly engineered, custom-made fiberglass and aluminum truck caps and tonneau covers, widely regarded as having the highest quality and broadest product line in the market today. A.R.E. operates from three manufacturing locations in Ohio and a distribution center in Nevada. The facilities utilize state-of-the-art equipment, production processes and environmental emission controls earning ISO 9001 certification in 2001.
“We are quite excited to join the THI family and to join a company known throughout the industry for innovation and quality, values that have been with A.R.E. since its founding more than 45 years ago,” said Todd Hoffman, A.R.E.’s President and CEO.
Headquartered in Ann Arbor, Michigan, Tectum Holdings, Inc. is a leading supplier of branded light duty truck accessories for pickup truck bed applications. Since its formation, THI has grown organically and via acquisition from two tonneau brands into a diverse portfolio of seven major tonneau brands and a premier bed liner brand.
Crystal Ridge Partners, based in Maplewood, New Jersey, provides capital to lower middle-market companies in the eastern half of the United States. With US$70 million under management, the firm provides liquidity and growth capital to shareholders while supporting continuity in ownership and management.
Oaklins' team in Cleveland served as the exclusive financial advisor to the seller in this transaction.
Crystal Ridge Partners Managing Principal, Don Hofmann, said: “We appreciate the tremendous dedication and industry expertise that the team provided in the process, which resulted in a successful outcome for the shareholders and provided an ideal partner for the A.R.E. team.“
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