Kraco Enterprises, a portfolio company of Sun Capital Partners, has acquired Who-Rae, a manufacturer and distributor of automotive aftermarket accessories.
Who-Rae provides automotive aftermarket products including seat covers, floor mats and sun shades under Who-Rae-owned brands including Who-Rae, Ergo-Drive and 2Air. The company also distributes a similar range of products under licensed brands such as Dickies, Stanley and Celessence. Who-Rae’s customers include mass market, automotive specialty and club store retailers. Who-Rae was founded in 2002 and based in Melbourne, Australia (www.who-rae.com.au).
Kraco Enterprises was acquired by Sun Capital Partners in August 2008. The company is a manufacturer and distributor of automotive aftermarket floor mats including cargo floor mats for vehicle, home, and shop use. Kraco operates a 500,000 square foot facility in Compton, CA, with over three million cubic feet of palletized floor mats ready to ship. Products are distributed to more than 15,000 auto supply and general merchandise retail stories in the US and Canada. In 2010, Kraco acquired Auto Expressions, the automotive aftermarket accessories business of Royal Dutch Shell. Kraco Enterprises was founded in 1954 by Maurice Kraines and is headquartered in Compton, CA (www.kraco.com).
“We’re excited to bring together these two market leaders, as our complementary product offerings, well respected brands and innovative products and packaging will further broaden our global reach,” said Larry McIsaac, CEO of Kraco Enterprises. “We continue to seek out strategic partnership opportunities to build on Kraco’s proven growth platform.”
Sun Capital invests in leveraged buyouts, equity, and debt in companies that can benefit from its in-house operating professionals and experience. Sun Capital has invested in and managed more than 315 companies worldwide with combined sales in excess of $45 billion since the firm’s inception in 1995. The firm has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Stockholm and Shenzhen (www.SunCapPart.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-22-15
