“CURT is a leader in a growing segment of the automotive aftermarket. We look forward to working with Greg Hooks and the CURT team to grow the business organically and with acquisitions,” said Geoffrey Rehnert, Co-CEO of Audax Group.
CURT Manufacturing designs, manufactures, and distributes towing equipment and trailer and cargo management accessories for passenger vehicles and trucks. CURT sells its products through installer, distributor, e-commerce, retail, and auto dealer channels. The company is headquartered in Eau Claire, WI (www.curtmfg.com).
“We are excited to have Audax as our new partner. Its track record of sourcing and integrating add-on acquisitions will enhance our ability to grow while continuing to build on our brand’s reputation of market-leading value,” said Greg Hooks, CEO of CURT.
BMO Capital Markets and GE Capital provided senior debt financing and BB&T Capital Partners provided junior debt financing. BB&T Capital Markets advised CURT. Kirkland & Ellis served as counsel to Audax Group.
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. Audax has over $5 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-13-14