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