Bestop, a portfolio company of Kinderhook Industries, has acquired Bull Accessories. This is the fifth add-on acquisition completed by Bestop since being acquired by Kinderhook in August 2015.
Bull Accessories is a designer, manufacturer and distributor of tie down anchors and ratchet straps for light-duty pickup trucks. The company was founded in 1988 and is headquartered near San Antonio in Boerne, TX (www.bullringusa.com).
“BullRing is an incredible niche accessory business that will fit perfectly into Bestop’s premium accessories portfolio,” said John Larson, CEO of Bestop. “The product and the company carry an impeccable reputation, and we’re thrilled to have the opportunity to help build the brand.”
According to Kinderhook, Bestop is the world’s largest manufacturer of soft tops and fabric accessories for Jeep and UTVs (Utility Task Vehicle or Utility Terrain Vehicle). The company has been the sole supplier of factory soft tops on all Jeep Wranglers since 1986 and is a major supplier of tonneaus, lock boxes, lighting and fabric caps to the pickup truck market. Bestop was founded in 1954 and is headquartered near Denver in Louisville, CO (www.bestop.com).
The four other add-ons completed by Kinderhook for Bestop were the February 2018 buy of Temecula, CA-based Kamm Industries (DBA PRP Seats), a maker of custom seats, harnesses, storage bags, and accessories for off-road vehicles such as UTVs, Jeeps and trucks (www.prpseats.com); the August 2016 buy of Cortez, CO-based Tuffy Security Products, a maker of storage products – such as steel consoles, drawers, glove boxes, and trunks – that are used in Jeeps, trucks, SUV’s and other commercial vehicles (www.tuffyproducts.com); the June 2016 buy of San Marcos, CA-based Baja Designs, a provider of off-road lighting products sold to the automotive aftermarket (www.bajadesigns.com); and the 2016 buy of Pompano Beach, FL-based Morris Motor Company, an online retailer of more than 40,000 automobile parts and accessories to Jeep and 4×4 enthusiasts (www.morris4x4center.com);
“John Larson and his team have done a tremendous job integrating and growing Bestop’s previous product acquisitions. We are excited about adding another premium brand to Bestop’s existing suite of products,” said Tom Tuttle, managing director of Kinderhook.
Kinderhook makes control investments in companies with transaction values of $25 million to $150 million in which the firm can achieve financial, operational and growth improvements. The firm makes investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations, and existing small capitalization companies lacking institutional support. Sectors of interest include healthcare services, environmental/business services, and automotive/light manufacturing. Kinderhook was founded in 2003 and is based in New York (www.kinderhook.com).
© 2019 Private Equity Professional | March 1, 2019
Water Street Healthcare Partners has closed on its investment in Pathnostics, a provider of diagnostic tests and services across a range of therapeutic areas.
“I’m thrilled to be working again with the Water Street team,” said Mr. Pauluzzi. “Their industry expertise and network of resources will give us the ‘lift’ we need to take Pathnostics to the next level to benefit our customers and achieve our long-term vision of building Pathnostics into a diagnostic solutions leader.”
“Pathnostics’ one-of-a-kind technology is a breakthrough. Its proven ability to swiftly deliver highly accurate therapeutic guidance enables physicians to immediately treat complex and chronic infections,” said Scott Garrett, a senior operating partner with Water Street and former chairman and CEO of Beckman Coulter, a provider of biomedical laboratory instruments. “We have a significant opportunity to leverage this unique technology across medical specialties to substantially improve patient care and reduce the cost of problematic infections. We’re excited to be Pathnostics’ partner as they develop new tests and expand their product portfolio into new therapeutic areas, and continue their impressive growth.”
Water Street invests from $50 million to $500 million in companies that are active in four healthcare sectors: medical and diagnostic products; specialty distribution; health care services; and specialty pharmaceutical products and services. The firm has particular expertise in corporate divestitures from healthcare companies. Water Street was founded in 2005 and is based in Chicago (
Wynnchurch Capital has acquired Mid-America Fittings (MAF), a maker of industrial brass fittings and valves.
The buy of MAF adds to a valves and fittings distribution platform that Wynnchurch is building and includes Anderson Metals, a Kansas City-based maker of brass fittings, 
valves, pipe nipples and related products that are used in plumbing, hardware and general industrial applications (acquired in January 2018); Midland Metal, a Kansas City-based distributor of fittings, valves, clamps, and other products to companies active in the general industrial, hose, fluid power, plumbing, oil and gas, 
and agriculture markets (acquired in November 2018); and Buchanan Rubber, a Toronto-headquartered distributor of industrial hoses, couplings, and sheet rubber (acquired in December 2018).
Wynnchurch makes investments in middle-market companies that have revenues of $50 million to $1 billion. Sectors of interest include aerospace & defense, automotive, building products, chemicals, food, logistics, energy services & equipment, environmental services, industrial products & services, metals & mining, and paper & packaging. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto (
Argonaut Private Equity has acquired Mammoth Carbon Products, a pipeline products distribution company.
“Mammoth is well positioned to significantly impact the distribution of steel pipeline in North America to meet demand,” said Steve Mitchell, CEO of Argonaut. “This acquisition provides the opportunity to leverage Argonaut’s experience, affiliates and relationships in the midstream market.”
Argonaut Private Equity invests in companies that are active in the energy services, manufacturing and industrial sectors. The firm has $3 billion of assets under management and is currently investing through Argonaut Private Equity Fund IV LP which was raised in 2018. Argonaut Private Equity is headquartered in Tulsa (
