Kinderhook celebrates 23x gain on Tectum Holdings


Kinderhook Industries has sold a majority stake in Tectum Holdings (THI) to TA Associates. The sale represents a return in excess of $300 million for Kinderhook Capital Fund II, translating to approximately 23x Kinderhook’s invested capital.

Kinderhook will retain a minority interest in THI and will continue to participate on the board of directors. Financial terms of the deal were undisclosed.

Headquartered in Ann Arbor, MI, THI is a manufacturer of tonneau covers, bed liners and related truck accessories. Kinderhook acquired the business in 2007.

Robert W. Baird & Co. acted as financial adviser and Kirkland & Ellis LLP worked as legal counsel to Kinderhook and THI. The financing was provided by the Senior Secured Loan Program, which is jointly managed by Ares Capital and GE Capital. Goodwin Procter LLP served as legal counsel to TA Associates.

Image courtesy of Shutterstock

Leave a Reply

PE HUB Community

Join the 12514 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget