CURT Manufacturing, a portfolio company of the Audax Group has acquired Aries Automotive, a designer, manufacturer and distributor of aftermarket truck accessories.
Aries designs, manufactures and distributes aftermarket truck accessories including grille guards, side bars, and steps. The company is headquartered in Torrance, CA (www.ariesautomotive.com).
CURT Manufacturing, acquired by Audax in March 2014, 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).
“Aries is a market leader with a strong brand and reputation in the truck accessories market. We look forward to partnering with their management team to continue growing the business organically and through strategic add-on acquisitions,” said Jay Mitchell, Managing Director of 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 $6 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).
“Partnering with CURT and Audax provides Aries with additional resources to continue supporting our customers’ growth across North America. We look forward to working with CURT and Audax as we continue to build the company,” said Jeff Perez, President of Aries.
Alvarez & Marsal Transaction Advisory Group served as financial advisor, and Fredrikson & Byron served as legal counsel, to CURT.
2014 PEPD • Private Equity’s Leading News Magazine • 6-13-14
