Kinderhook Adds to All States Ag Parts

All States Ag Parts, a portfolio company of Kinderhook Industries, has acquired John F. Mahaney Company.

Mahaney is a distributor of professional-grade tools and supplies to the agricultural, ranch and industrial markets. The company’s customers include hardware and farm supply stores, feed stores, auto parts stores, large growers, government accounts, and industrial contractors. Mahaney’s tools and supplies are sourced from well-known brand manufacturers and the company also sells professional-grade agricultural hand tools under its own Red Rooster brand (

The company was founded in 1951 by John Mahaney. Steve Mahaney, a previous co-owner and son of founder John Mahaney (he passed away in 2017), will stay on to manage the company under All States’ ownership. Mahaney is headquartered in Sacramento, CA (

Kinderhook acquired All States Ag Parts (ASAP), a supplier of used, rebuilt and aftermarket parts for all makes and models of tractors, combines and other farm machinery, in May 2018. The buy of Mahaney is the second add-on acquisition for ASAP under Kinderhook’s ownership.

ASAP is the largest supplier of used, new and remanufactured tractor and combine parts in North America. The company has more than 850,000 aftermarket parts – with over 50,000 parts available for same-day shipping – and carries parts for all makes including John Deere, Case IH, New Holland, Ford, International, Allis Chalmers, Caterpillar, Gehl, Massey Ferguson, Kubota, Lexion, Minneapolis Moline, Oliver, Steiger, Versatile, and White.

ASAP has ten facilities, some of which have multiple functions, located in Wisconsin, Minnesota, Iowa, Missouri, Nebraska, and South Dakota. Included are eight salvage yards, two rebuild facilities and a 217,000 sq. ft. distribution center in Lake Mills, IA. The company’s catalog and e-commerce call center is based in De Soto, IA. ASAP, led by CEO John Dyke, is headquartered 28 miles east of Minneapolis in Hudson, WI (

The purchase of Mahaney is ASAP’s tenth retail location, eleventh location overall, and its first location in California. In addition to providing the first ASAP California location, the acquisition strengthens the company’s emerging wholesale division and provides ASAP with manufacturing capability for Mahaney’s Red Rooster tools brand.

“We are excited to bring Mahaney into the ASAP fold,” said Paul Cifelli, a managing director of Kinderhook. “The combination of the two companies provides ASAP with a footprint in a robust agricultural region where it can better serve farmers on the West Coast, while Mahaney customers will benefit from the expanded product offerings and distribution capabilities that ASAP brings to the table.”

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 (

© 2019 Private Equity Professional | May 16, 2019

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