All States Ag Parts, a supplier of replacement agricultural and construction parts owned by Kinderhook, has acquired Summit Supply. Financing for the transaction was provided by a lending syndicate led by Maranon Capital, Capital One and Madison Capital.
Hudson, WI – All States Ag Parts, LLC (“All States Ag Parts” or “ASAP”), the leading North American supplier of replacement agricultural and construction parts, announced today the acquisition of Summit Supply, LLC and Contrax Equipment, Inc. (collectively, “Summit Supply” or the “Company”). Founded in 1982, Summit Supply Co. is the leading supplier of aftermarket rubber tracks as well as undercarriage wear parts, solid tires, and track pads for a wide range of machinery. Summit Supply Co. is ASAP’s eleventh add-on acquisition since partnering with Kinderhook.
The acquisition of Summit Supply enhances ASAP’s existing construction division, and further solidifies ASAP’s position as a leading alternative parts provider diversified across the agriculture and construction markets. The Company’s deep network of suppliers and dealership customers creates a significant collaboration opportunity for the combined business.
Eric Druckenmiller, General Manager of Summit, said, “We are thrilled to partner with ASAP and Kinderhook to accelerate the growth of Summit. In particular, I’m very excited to leverage ASAP’s existing parts catalog for Summit’s dealership customer base.”
“The acquisitions of Summit and Contrax will further strengthen our ability to serve the agriculture and construction industries. Summit and Contrax will be integrated into our existing construction parts division and improve our ability to serve ASAP’s customers by adding new part SKU’s and additional sourcing relationships,” said Bill Davidson, President of ASAP.
Paul Cifelli, Managing Director at Kinderhook, stated, “The acquisition of Summit Supply is another major milestone on our path to building ASAP into the top provider of alternative parts. Summit Supply is a great business with deep industry knowledge and a similar track record of quality customer service fits perfectly with ASAP.”
Kirkland & Ellis LLP served as legal counsel to ASAP. Financing for the transaction was provided by a lending syndicate led by Maranon Capital LP, Capital One and Madison Capital.