THI Acquires BAK Industries
Tectum Holdings, Inc. (“THI”) announced the acquisition of Laurmark Enterprises, Inc.(d/b/a “BAK Industries” or “BAK”). “We are very happy to welcome BAK into the THI family," says Bill Reminder, Chief Executive Officer of THI. "The BAK team has done an outstanding job of introducing industry changing products to truck owners which is highlighted by BAK’s highly successful BAKFlip tonneau. BAK’s product line-up is an excellent addition to THI’s extensive product portfolio and BAK’s online marketing expertise will be highly complementary to THI’s current distribution and marketing initiatives.”
BAK is the seventh acquisition on the THI platform. Financial terms of the transaction were not disclosed. Headquartered in Ann Arbor, MI, THI is a premier manufacturer of tonneau covers, bed liners and related truck accessories. As the leader in the U.S. light duty truck aftermarket, THI is known for the quality and breadth of its product line, engineering excellence and innovative new product development. THI’s family of brands include Extang, TruXedo, BedRug, UnderCover, Advantage, Retrax and, as of today, BAK Industries.
Based in San Fernando, CA, BAK Industries was founded by Julian and Ivan Maimin in 1988. Over the past 26 years, the company has expanded its product offering from bed liners to a comprehensive line of dynamic and innovative tonneau covers. BAK’s philosophy has been to craft rugged and strong products while still maintaining a clean look of style and sophistication.