Tectum Holdings, Inc. Acquired by TA Associates
July 28, 2014
Ann Arbor, MI - Tectum Holdings Inc. (“THI”) announced today that they have been acquired by TA Associates, one of the world’s largest and oldest private equity investment firms. THI is the premier manufacturerof tonneau covers, bed liners and related truck accessories.
THI was formed in 2007 by Kinderhook Industries with a merger between Extang and TruXedo. By successfully executing a plan for organic and acquisition-led growth, THI has expanded to a family of seven highly recognized brands, including Extang, TruXedo, BedRug, UnderCover, Advantage, Retrax and most recently, BAK Industries. During the past seven years THI has used its operational strengths and best practices to foster significant growth within their portfolio of companies. THI is known for quality,
engineering excellence, and innovative new product development, and is considered the dominant leader in its competitive space. The result has been the successful launch of a broad range of award winning products.
In a statement issued today, Bill Reminder, Chief Executive Officer and President of THI stated, “We are excited about our new partnership with TA Associates and consider ourselves fortunate to be part of a distinguished, world-class private equity firm and their exceptional portfolio of companies. TAAssociates’ four decades of experience working with emergent, profitable companies will provide a significant benefit to us as we enter our next phase of growth. THI is committed to building on our established initiatives, the pursuit of additional acquisition opportunities and new product launches. I’m convinced that we will continue to thrive and set the standard for the industry’s best truck accessories through the combined capabilities of our companies.” Mr. Reminder stated that he will continue in his current role as will all members of the company’s executive and management teams.
“THI has demonstrated the ability to unite great companies into a cohesive family and advance the tonneau category through innovative products, marketing, and consumer awareness. THI’s strong brand equity, loyal customer relationships and outstanding reputation has been rewarded with more consumers putting THI tonneau covers on their trucks than any other brand,” said Michael Berk, Managing Director at TA Associates. “We look forward to bringing our extensive experience, insight and financial backing to THI’s plan to further develop the truck accessory market.
About TA Associates
Founded in 1968, the firm has invested in more than 440 companies around the world and has raised $18 billion in capital. TA Associates invests in growing private companies into exciting industries, with the goal of helping management teams build their businesses into great companies. TA Associates focus is on growth rather than financial engineering. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, and healthcare and consumer industries.
More information about TA Associates can be found on their website: ta.com
THI is the holding company for Extang, TruXedo, UnderCover, Advantage Truck Accessories,
Retrax and BAK Industries; leading manufacturers of tonneau covers for light duty trucks, and BedRug; a pioneer in the development of bed liners.THI has focused on providing consumers a full range of tonneau products with market leading functionality
engineering, quality, and design. Today, THI's brands are recognized as the
premier brands in the U.S. light duty truck aftermarket and leaders in product innovation.
From this disciplined approach, the Company has introduced in excess of 16 new products and
line extensions over the past six years, and currently has six new product launches scheduled
for 2014 in addition to numerous other products under development.