BOSTON--(BUSINESS WIRE)--Audax Private Equity (“Audax”), in partnership with management, has completed the sale of CURT Group (“CURT”, or the “Company”) to Lippert Components, Inc. (“LCI”), a wholly-owned subsidiary of LCI Industries (NYSE: LCII).
Headquartered in Eau Claire, WI, CURT is a leading designer, manufacturer, marketer and distributor of towing, towing accessory and other vehicle accessory products. The Company maintains a robust product portfolio comprised of thousands of SKUs across various product lines, including hitches, towing electricals, ball mounts, and cargo management. CURT has a significant market position, owning and operating a stable of leading brands, including CURT, Aries, Luverne, Retrac, and UWS. Under Audax ownership, CURT completed six add-on acquisitions, growing the towing accessories business and expanding offerings into aftermarket truck accessories.
Jay Mitchell, Managing Director at Audax Group, said, “We are incredibly proud to have partnered with Rock Lambert and the CURT team. Through organic and acquisition growth the Company has expanded its product portfolio and manufacturing capabilities, while diversifying the business into a broader aftermarket towing and truck accessories provider. We are thankful for the CURT team’s hard work and wish them the best.”
Rock Lambert, CEO of CURT, said, “Thank you to Audax for their support over the past five years. Together, we have expanded our business both organically and through the completion of six add-on acquisitions. We believe that the Company is well positioned to continue our growth trajectory and we look forward to partnering with LCI.”
Robert W. Baird & Co. and Kirkland & Ellis LLP served as advisors to CURT Group.
ABOUT AUDAX PRIVATE EQUITY
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
ABOUT CURT Group
CURT Group is a leading sales, marketing, engineering and distribution company of towing products and truck accessories for all types of vehicles, from passenger cars to commercial trucks. Headquartered in Eau Claire, Wisconsin, the CURT Group family of brands includes CURT, ARIES, LUVERNE, RETRAC and UWS. The CURT Group team consists of more than 1,000 associates world-wide, with manufacturing plants in Wisconsin, South Dakota and Florida, and 11 regional warehouses across the United States and Canada. For further information please visit: www.curtgroup.com
ABOUT LCI Industries
From over 85 manufacturing and distribution facilities located throughout North America and Europe, LCI Industries, through its wholly-owned subsidiary, LCI, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors, and service centers. LCI’s products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; branded towing products; truck accessories; electronic components; appliances; televisions, sound systems, navigation systems, and backup cameras; and other accessories. Additional information about LCI and its products can be found at www.lci1.com.