Tectum Holdings, Inc., a Ann Arbor, Michigan-based manufacturer of pickup truck accessories, received a majority investment from TA Associates.
TA acquired its stake from shareholders, including Kinderhook Industries, which retained a minority interest in the company. Additional terms of the investment were not disclosed. In conjunction with the transaction, Michael S. Berk and Jeffrey S. Barber, Managing Directors at TA Associates, will join THI’s Board of Directors.
Led by Bill Reminder, CEO, THI manufactures soft and hard bed covers, also known as tonneau covers, for light duty pickup trucks. Designed for security and cargo protection, the covers are available in a variety of soft and rigid materials such as vinyl, plastic and metal, and numerous styles, including retractable, folding, roll-up and snap-on units. It also manufactures cushioned and carpeted protective liners for truck beds.
The products are sold through independent retailers such as truck accessory stores, new and used vehicle dealerships and e-commerce websites.
The company, which sells products under market leading brands, including Extang, TruXedo, UnderCover, Retrax, BAK and Advantage, operates manufacturing facilities in California, Michigan, Missouri, North Dakota, South Dakota and Tennessee.
FinSMEs
29/07/2014