THI CORPORATION ADDS A.R.E. ACCESSORIES TO THE FAMILY
April 28, 2015
Tectum Holdings, Inc. (“THI”) announced today the acquisition of A.R.E. Accessories, LLC, making it the eighth acquisition on the THI platform. Financial terms of the transaction were not disclosed.
Headquartered in Ann Arbor, Michigan, THI is a leading supplier of branded light duty truck accessories for pickup truck bed applications. Since its formation, the Company 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.
THI has focused on providing consumers a full range of tonneau products with market leading functionality
, engineering, quality, and design. The breadth of THI's product offering addresses virtually every consumer price point in both the hard and soft tonneau categories. Today, THI's brands are recognized as the premier brands in the U.S. light duty truck aftermarket and leaders in product innovation.
A.R.E. Accessories, (“A.R.E.”) 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 manufacturing location sand broadest product line in the market today. A.R.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.
With over 45 years of experience, A.R.E. has a highly developed network of independent dealers who rely on the company to provide product custom made to exact order specifications and delivered within two to three weeks. In an industry that is heavily reliant upon being “first to market” with new applications, A.R.E. has an exceptional record of performance. A.R.E. was owned by Crystal Ridge Partners and Defiance Partners.
“We’re really thrilled to have A.R.E. join our family,” said Bill Reminder, CEO of THI Corp. “We have always viewed A.R.E. as simply the best and preferred choice in fiberglass truck bed covers and caps.
Their award winning designs and engineering excellence will be a tremendous complement to the THI lineup of truck bed covers. I am looking forward to working with the talented executive and management team at A.R.E.”
Todd Hoffman, President of A.R.E. added, “The A.R.E. team has positioned ourselves well, and we’re quite excited to join the THI family. Partnering with THI and its comprehensive lineup of brands offers A.R.E. expanded channels and opportunities to work with companies known for quality and innovation. Our products fit perfectly into the THI portfolio, rounding out the core pickup truck bed cover category with fiberglass, commercial aluminum, and many truck cap options.”Ropes & Gray, LLP acted as legal counsel to THI Corporation. Goodwin Procter, LLP acted as legal counsel and Western Reserve Partners acted as the exclusive financial advisor to A.R.E. Accessories, LLC.
About Tectum Holdings, Inc.
THI is the holding company for the Extang, TruXedo, UnderCover, Advantage Truck Accessories, Retrax and BAK Industries brands; leading manufacturers of tonneau covers for light duty trucks, and BedRug, a pioneer in the development of bed liners. Today, THI’s brands are recognized as the top brands in the
U.S. light duty truck aftermarket and leaders in product innovation.