Kinderhook buys National Truck Protection


Kinderhook Industries has acquired Cranford, New Jersey-based National Truck Protection, a provider of drivetrain parts for commercial trucks. The sellers included Palladian Capital, Fidus Investment Corporation, Saratoga Investment Corporation and Brookside Mezzanine Partners. No financial terms were disclosed. Twin Brook Capital Partners provided financing for the deal.

PRESS RELEASE

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of National Truck Protection (“NTP” or the “Company”) from Palladian Capital, Fidus Investment Corporation, Saratoga Investment Corporation, Brookside Mezzanine Partners and management. NTP is the seventh platform investment in Kinderhook Capital Fund IV, a private equity fund raised in 2014 with $500 million of committed capital. The transaction represents Kinderhook’s 35th automotive-related transaction.

Financial terms of the transaction were not disclosed.

Headquartered in Cranford, NJ, NTP has a 33 year track record of providing extended service contracts for critical coverage on high-value fundamental drivetrain components for used class 3 through 8 trucks. The Company is the undisputed market leader selling through an unmatched and diverse distribution network that includes over 1,300 used truck dealerships, large blue-chip OEM truck manufacturers, large commercial trucking fleets, and finance and leasing companies throughout the United States. NTP’s products offer significant value to its customers, from large fleets to independent owner-operators, by returning their trucks to running condition in the event of a breakdown.

“We are extremely pleased to partner with Kinderhook as they have a clear understanding of the opportunities in the industry combined with the resources to support NTP as it continues to provide superior service to the marketplace”, said Robert S. Amico who will continue as President and CEO of the Company.

Tom Tuttle, Managing Director at Kinderhook, stated, “We are excited to partner with Bob to help execute our organic and acquisition led growth plans for NTP. Bob has done a tremendous job leading the business over the past eight years and we look forward to partnering with him and his team as NTP embarks on its next phase of growth.”

“The acquisition of NTP aligns perfectly with Kinderhook’s investment strategy of partnering with world-class management teams to acquire companies who are market leaders in their respective niches,” said Paul Cifelli, Managing Director at Kinderhook. “Kinderhook has developed expertise and a network of Operating Partners with decades of experience in automotive-related services businesses. We are excited about the opportunity to leverage this expertise to further enhance the strong foundation Mr. Amico and his team have built at NTP.”

Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by Twin Brook Capital Partners.

About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $2.0 billion of committed capital. We have made in excess of 140 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a rich history of successfully and consistently building industry leaders. For more information please visit: www.kinderhook.com

About National Truck Protection
Headquartered in Cranford, NJ, NTP has a 33 year track record of providing customized, high-value fundamental drivetrain parts coverage for a wide array of commercial trucks throughout the U.S. The Company is the undisputed market leader selling through an unmatched and diverse distribution network that includes over 1,300 used truck dealerships, large blue-chip OEM truck manufacturers, large commercial trucking fleets, and finance and leasing companies. The Company’s products are sold primarily to independent owner-operators of used class 3 through 8 trucks. NTP’s products offer significant value to its customers, from large fleets to independent owner-operators, by returning their trucks to running condition in the event of a breakdown, thus allowing them to return to the road and generate income. For more information please visit: www.ntpwarranty.com

Do you want exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more? Get your FREE trial to Buyouts! Or subscribe now!