Vehicle Accessories Set to be Acquired by RealTruck
Deal News | Jan 07, 2025 | Kinderhook Industries
Kinderhook Industries, a private equity firm based in New York, announced that its portfolio company, Vehicle Accessories Inc., has entered into an agreement to be acquired by RealTruck Inc. The financial details of the transaction were not disclosed. Vehicle Accessories, headquartered in Mesquite, Texas, manufactures functional vehicle accessories for leading automotive brands such as Toyota, Ford, and Honda. Over the past five years, under Kinderhook's stewardship, Vehicle Accessories has expanded its product range significantly and completed seven add-on acquisitions. Legal counsel for the transaction is being provided by Kirkland & Ellis LLP, while Piper Sandler & Co. serves as the financial advisor. The deal is anticipated to close in the first quarter of 2025, pending regulatory approvals. Kinderhook's Managing Director, Tom Tuttle, expressed satisfaction with the transaction, highlighting the growth and success of Vehicle Accessories during the firm's investment period.
Sectors
- Automotive Accessories
- Private Equity
- Legal Advisory
- Financial Advisory
Geography
- United States – The main participants, Kinderhook Industries and Vehicle Accessories, are based in the United States, with Vehicle Accessories headquartered in Texas and Kinderhook in New York.
Industry
- Automotive Accessories – The article revolves around Vehicle Accessories, a manufacturer in the automotive accessories industry, producing various functional products for major automotive manufacturers.
- Private Equity – Kinderhook Industries, a private equity firm, is involved in this transaction through the sale of its portfolio company, Vehicle Accessories.
- Legal Advisory – Kirkland & Ellis LLP is providing legal counsel for the transaction, highlighting the involvement of legal advisory services in the deal.
- Financial Advisory – Piper Sandler & Co. serves as the financial advisor in this transaction, indicating the role of financial advisory in M&A activities.
Financials
- Not disclosed – The financial terms of the transaction between Kinderhook Industries and RealTruck for the sale of Vehicle Accessories.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kinderhook Industries | Selling Company / Vendor | Company | A private equity firm based in New York, involved in the sale of Vehicle Accessories to RealTruck. |
| Vehicle Accessories Inc. | Target Company | Company | A manufacturer of vehicle accessories, being sold by Kinderhook Industries to RealTruck. |
| RealTruck Inc. | Bidding Company / Buyer | Company | The acquirer of Vehicle Accessories in the announced transaction. |
| J Pearson | Executive Chairman of VAI | Person | Executive Chairman of Vehicle Accessories, involved in the sale process to RealTruck. |
| Tom Tuttle | Managing Director at Kinderhook | Person | A representative of Kinderhook Industries making statements about the transaction. |
| Nate Druckenmiller | Principal at Kinderhook | Person | A principal at Kinderhook Industries, commenting on the deal and the company's investment strategy. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Providing legal counsel to Vehicle Accessories for the transaction. |
| Piper Sandler & Co. | Financial Advisor | Company | Serving as financial advisor to Vehicle Accessories in the deal with RealTruck. |