Kinderhook’s Lodis Merges with American Belt

Kinderhook’s Lodis Merges with American Belt

american belt lodis nf2Lodis Accessories, a portfolio company of Kinderhook Industries, has merged with The American Belt Company and the combined company has been renamed American Accessories.

Lodis Accessories, acquired by Kinderhook in January 2006, is a supplier of fashion accessories for men and women, including clutches, belts, wallets, brief bags, handbags and travel accessories. Lodis’ products are sold in department stores, specialty boutiques and luggage stores. The company was founded in 1970 and is based near Newport Beach in Lake Forest, CA (

American Belt is a supplier of men’s accessories including belts, wallets, and suspenders for branded products, including Carhartt, and private label customers.  American Belt has been owned and operated by the Ford family since its founding in 1969 and is headquartered northeast of Philadelphia in Bensalem, PA (

tom tuttle nf1“We are excited to be partnering with American Belt and the Ford family to execute against our long term strategic objectives,” said Tom Tuttle, Managing Director of Kinderhook Industries.  “This merger further strengthens the Lodis platform as the company continues to expand its market presence.  This transaction has brought together two companies that will provide an exceptional platform to meet the growing demands of our customers and the market.”

Kinderhook Industries 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.  Kinderhook pursues private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations, and existing small capitalization companies lacking institutional support. The firm, founded in 2003, has $1.25 billion of committed capital and is based in New York (

According to Adam Yuzuk, CEO of American Accessories, the two companies are perfect merger partners.  “American Belt and Lodis’ respective product mix complement one another as American Belt has a strong presence in men’s accessories and Lodis has a stronger presence in women’s accessories. The combination of Lodis and American Belt will strengthen the company’s position in the accessories market and also position the company for continued success.”

“American Belt is entering into a new chapter and we are thrilled to be joining forces with the team at Lodis,” said Michelle Ford, who will remain with the company. “The cultures of these two companies are a great fit. Both companies have entrenched industry relationships and we are looking forward to continuing to provide exceptional products.”

Financing for the transaction was provided by PNC Bank ( HT Capital Advisors ( served as the exclusive financial advisor to American Belt.

2015 PEPD • Private Equity’s Leading News Magazine • 5-21-15

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