Lund International, a portfolio company of Highlander Partners, has acquired RoadWorks Manufacturing, a maker and distributor of aftermarket accessories for the heavy truck market.
RoadWorks offers a full line of heavy truck exterior accessories, along with interior accessories such as accent strips and trim pieces. Products include stainless steel bumpers; tank saddle covers; stainless hub covers; LED lights; sleeper shock covers; license and vanity plate frames; grills; center hood trims; wiper arm covers; and cab and sleeper panels. The company was founded in 1994 and is headquartered 60 miles northwest of Indianapolis in Lafayette, IN (www.roadworksmfg.com).
Lund International is a designer, manufacturer and marketer of branded automotive aftermarket accessories for passenger cars, light trucks, and heavy trucks. Its products include vent visors, hood shields, floor mats, tonneau covers, storage boxes, and running boards, among others. Company owned brand names include Lund, AVS, Belmor, AMP Research, Rampage, Bushwacker, Roll-N-Lock, TonnoPro and Stampede. Lund is based northeast of Atlanta in Buford, GA (www.lundinternational.com).
“This acquisition, Lund’s eighth since Highlander acquired the company in 2011, reconfirms our strategy of executing complementary add-on acquisitions that enhance and expand Lund’s existing business and product offerings,” said Jeff Hull, Chairman of Lund and President and Managing Partner of Highlander. “Consistent with prior acquisitions, we plan to leverage the strength of our brands and distribution capabilities to ensure both RoadWorks and our current heavy truck brand, Belmor, reach an even broader audience and grow our presence in the heavy truck category. We are continuing to evaluate M&A opportunities and expect to make additional acquisitions going forward.”
Highlander has stated that all operations of RoadWorks will continue to be conducted from the company’s facility in Lafayette and that its employees will join the Lund International team.
“We believe that Lund is a perfect fit for our business and look forward to contributing to its continued success,” said Susan Linson, RoadWorks’ Owner and CEO. “Lund’s broad reach into the major automotive markets, including its current presence in the heavy truck segment, will help to enhance RoadWorks’ position in the marketplace and presents us with access to significant new channels for growth.”
Highlander Partners makes investments in middle market businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Sectors of interest include healthcare, basic manufacturing, food, and building materials. The firm has over $1.2 billion in capital under management and is based in Dallas (www.highlander-partners.com).
Fifth Third Securities was the financial advisor to RoadWorks on this transaction.
© 2017 Private Equity Professional | March 2, 2017