Direct marketer and manufacturer of contact lenses
$28 million initial public offering of common stock
Manufacturer and provider of plastic resins and compounds
$50 million placement of senior notes
Manufactures, markets and distributes vinyl rainware systems
Sold to: Euramax International (Norcross, GA)
Manufacturer of custom-made fiberglass and aluminum truck caps and tonneau covers
Sold to: Tectum Holdings, Inc., a portfolio company of TA Associates (Boston, MA)
Western Reserve Partners served as exclusive financial advisor to A.R.E. Accessories, LLC (“A.R.E.”), a portfolio company of Crystal Ridge Partners and Defiance Partners, in its sale to Tectum Holdings, Inc. (“THI”), a portfolio company of TA Associates, LLC.
Headquartered in Massillon, Ohio, A.R.E is the world’s single largest selling brand of highly engineered, custom-made fiberglass and aluminum truck caps and tonneau covers, widely regarded as having the highest quality and broadest product line in the market today. A.R.E. operates from three manufacturing locations in Ohio and a distribution center in Nevada. The facilities utilize state-of-the-art equipment, production processes and environmental emission controls earning ISO 9001 certification in 2001. With over 45 years of experience, A.R.E. has a highly developed network of independent dealers who rely on the company to provide product custom made to exact order specifications and delivered within two to three weeks.
Headquartered in Ann Arbor, Michigan, THI is a leading supplier of branded light duty truck accessories for pickup truck bed applications. Since its formation, THI has grown organically and via acquisition from two tonneau brands into a diverse portfolio of seven major tonneau brands and a premier bed liner brand.
Of working with Western Reserve, Crystal Ridge Partners Managing Principal Don Hofmann said, “We appreciate the tremendous dedication and industry expertise Western Reserve provided in the process, which resulted in a successful outcome for the shareholders and provided an ideal partner for the A.R.E. team.”
“We are quite excited to join the THI family and to join a company known throughout the industry for innovation and quality, values that have been with A.R.E. since its founding more than 45 years ago. On behalf of everybody at A.R.E., I would like to thank the Western Reserve team for their assistance and guidance throughout the sale process. Their direction and relentless effort throughout the process was truly top notch,” said Todd Hoffman, A.R.E.’s President and CEO.
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Manufacturer of industrial lift trucks and lift truck parts
Acquired: Lift Truck Division (Mattison, IL) of Allis Chalmers Corp. (Milwaukee, WI)
Manufacturers and marketers of residential unitary heating and cooling equipment
Sold to: Rheem Manufacturing (New York, NY), a subsidiary of Paloma Ltd. (Tokyo, Japan)
Wholesale auctioneer of used automobiles
$23 million initial public offering of common stock
Manufacturer of wallboard and wood building components for the manufactured housing and recreational vehicle industries
Sold to: Linsalata Capital Partners (Cleveland, OH)
Manufacturer of front discharge concrete mixer trucks
Sold to: The Prince Group (Grand Rapids, MI)
Manufacturer of high value ceramic shapes and powders
Sold to: GE Quartz Advanced Materials Division (Willoughby, OH) of General Electric Company (Fairfield, CT); provided fairness opinion