Extang and TruXedo joined forces to create Truck HeroFriday, November 16, 2007

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PRESS RELEASE
November 16, 2007
Kinderhook Industries, LLC

Extang and TruXedo Sells to Private Equity Firm

Extang Corporation, of Ann Arbor, Michigan along with TruXedo, a division of Shur-Co. based in Yankton, South Dakota are pleased to announce they have been acquired by Kinderhook Industries, LLC, a highly respected New York based private equity firm. Kinderhook Industries completed the transactions through THI, an investment vehicle created to pursue opportunities in the truck aftermarket.

Extang and TruXedo are the two leading manufacturers of soft tonneau covers historically
recognized for their high quality and innovative products. Both companies bring tremendous brand reputation and market strength to the $38 billion automotive aftermarket.

“I am very excited to be working with Bill Reminder and Kelly Kneifl as they lead the combined Extang/TruXedo organization to the next level. Kinderhook intends to support a vigorous investment program in marketing and new product development to expand the tonneau market.

Additionally, we believe the consolidation of the Extang/TruXedo businesses will serve as a
platform for further acquisitions in the truck aftermarket,” said Thomas Tuttle, Managing Director of Kinderhook. As part of this merger, both companies will combine their existing management teams and lay the
foundation for further expansion into the next generation of truck bed covers and other related product categories. The companies will strive to leverage their respective best practices and operational strengths, while retaining the creativity, innovation and commitment to quality that has made their products the “best in class” in the tonneau market.

“Kinderhook brings the capital, experience, and resources needed to grow our two businesses and supports our continued efforts to be at the forefront of the tonneau cover market. With the capital provided by Kinderhook, we will be able to accelerate our new development initiatives to expand our product offering and selectively pursue acquisition opportunities in related accessories,” said Bill Reminder, CEO of THI.

“TruXedo and Extang are a perfect match. Combining the operational excellence and extensive
product offerings of both companies will have a tremendous impact in the marketplace. This is an exciting new chapter in the history of Extang and TruXedo,” said Kelly Kneifl, COO of THI.


About TruXedo
TruXedo was started in 2000 with the launch of its first soft roll-up tonneau cover. With innovative design as the core element of its products, TruXedo has grown into the largest provider of soft rollup tonneau covers to the North American market. Additional information can be found at www.truXedo.com.

About Extang Corporation
Extang was founded in 1982 by the Wheatley family. Initially the business began as a mail order company selling headlight covers and in 1984 started producing their first “no-drilling” tonneau cover. Extang celebrated its 25th Anniversary this year and has remained America’s best-selling tonneau covers to this day. For more information, visit www.extang.com.

About Kinderhook Industries, LLC
Kinderhook Industries is a New York based private equity fund with $470 million of committed
capital. Their investment philosophy is based on combining senior management and operating
experience in a variety of industries to support the growth of entrepreneurial owned businesses. For additional information, visit www.kinderhook.com.

MEDIA CONTACT:
Renee Dettling
Extang Corporation
734-434-3508, renee@extang.com

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