TA Associates Acquires Tectum Holdings Inc.
TA Associates, one of the world’s largest and oldest private equity investment firms has acquired Tectum Holdings Inc. (“THI”). THI is the premier manufacturer of tonneau covers, bed liners and related truck accessories. In a statement issued today, Bill Reminder, Chief Executive Officer and President of THI stated, “We are excited about our new partnership with TA Associates and consider ourselves fortunate to be part of a distinguished, world class private equity firm and their exceptional portfolio of companies. TA Associates’ four decades of experience working with emergent, profitable companies will provide a significant benefit to us as we enter our next phase of growth. THI is committed to building on our established initiatives, the pursuit of additional acquisition opportunities and new product launches. I’m convinced that we will continue to thrive and set the standard for the industry’s best truck accessories through the combined capabilities of our companies.” Mr. Reminder stated that he will continue in his current role as will all members of the company’s executive and management teams.
“THI has demonstrated the ability to unite great companies into a cohesive family and advance the tonneau category through innovative products, marketing and consumer awareness. THI’s strong brand equity, loyal customer relationships and outstanding reputation has been rewarded with more consumers putting THI tonneau covers on their trucks than any other brand,” said Michael Berk, Managing Director at TA Associates. “We look forward to bringing our extensive experience, insight and financial backing to THI’s plan to further develop the truck accessory market.
THI was formed in 2007 by Kinderhook Industries with a merger between Extang and TruXedo. By successfully executing a plan for organic and acquisition-led growth, THI has expanded to a family of seven highly recognized brands, including Extang, TruXedo, BedRug, UnderCover, Advantage, Retrax and most recently, BAK Industries. During the past seven years THI has used its operational strengths and best practices to foster significant growth within their portfolio of companies. THI is known for quality, engineering excellence and innovative new product development, and is considered the dominant leader in its competitive space. The result has been the successful launch of a broad range of award winning products.