Bestop Completes Acquisition of myTop to Expand Product Line
Deal News | Nov 05, 2024 | Kinderhook Industries
Bestop, a prominent manufacturer of soft tops and accessories for Jeep vehicles, has announced the acquisition of myTop, a company specialized in power-actuated convertible soft tops. This acquisition marks Bestop’s entry into the power soft top market, launching a new product line branded as 'eTop' for Jeep Wranglers and Ford Broncos. Backed by Kinderhook Industries, which has a track record of investing in middle-market businesses, Bestop aims to leverage myTop’s innovative technology to enhance its product offerings, expand market reach, and maintain its reputation for quality and innovation in the automotive accessories sector. This acquisition represents Bestop’s tenth add-on acquisition, underscoring its strategic approach to growth and innovation. The executives from Bestop and Kinderhook reiterated their commitment to integrating myTop’s technology and continuing to serve their customer base with high-quality automotive solutions.
Sectors
- Automotive Accessories
- Private Equity
Geography
- United States – The companies and activities mentioned, such as Bestop, myTop, and Kinderhook Industries, are primarily based in the United States, highlighting the geographical focus of the article.
Industry
- Automotive Accessories – The article discusses Bestop's expansion within the automotive accessories sector, specifically focusing on soft tops for vehicles like Jeep Wranglers and Ford Broncos.
- Private Equity – Kinderhook Industries, a private equity firm, plays a significant role in facilitating the acquisition, underpinning the investment dynamic within the article.
Financials
- $8.5 billion – The amount of capital raised by Kinderhook Industries, highlighting the scale of their investment capabilities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bestop, Inc. | Target Company | Company | A manufacturer of soft tops and fabric accessories for Jeep vehicles, entering a new market segment with this acquisition. |
| myTop, LLC | Selling Company | Company | The company behind the industry's first power-actuated convertible soft tops, acquired by Bestop to enhance its product lineup. |
| Kinderhook Industries | Private Equity Firm | Company | The investment firm backing Bestop, facilitating this acquisition as part of their investment strategy in automotive and related sectors. |