Kinderhook-backed All States Ag Parts buys Hoye Tractor

All States Ag Partners LLC, which is backed by Kinderhook Industries, has acquired Iowa Park, Texas-based Hoye Tractor Parts Inc, a provider of new aftermarket and used tractor parts primarily for Yanmar tractors.

All States Ag Partners LLC, which is backed by Kinderhook Industries, has acquired Iowa Park, Texas-based Hoye Tractor Parts Inc, a provider of new aftermarket and used tractor parts primarily for Yanmar tractors. No financial terms were disclosed.

PRESS RELEASE

Hudson, WI – All States Ag Parts, LLC (“All States Ag Parts” or “ASAP”), the leading supplier of replacement agricultural and construction parts in North America and portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Hoye Tractor Parts, Inc. (“Hoye Tractor” or the “Company”). Hoye Tractor is a distributor of new aftermarket and used tractor parts primarily for Yanmar tractors. Hoye Tractor is based in Iowa Park, TX and specializes in online parts sales. Hoye Tractor will be ASAP’s ninth add-on acquisition since partnering with Kinderhook in July 2018.

The acquisition of Hoye Tractor expands ASAP’s aftermarket parts catalog, online presence and geographic presence into North Texas, an agricultural hotbed. ASAP also recently acquired TractorJoe and Yesterday’s Tractor, both leading online-focused parts distributors.
“We are thrilled to welcome Hoye Tractor to the family of ASAP companies,” said John Dyke, CEO of All States Ag Parts, “Hoye Tractor will add over 200,000 Yanmar used and aftermarket parts to our product catalog.”

Paul Cifelli, Managing Director at Kinderhook, stated, “The Hoye Tractor acquisition provides ASAP with access to a new market in North Texas and we feel that ASAP management’s expertise and track record will allow this business to achieve significant growth moving forward. Hoye Tractor has an unparalleled track record of high-quality customer service and product expertise that will be invaluable to the ASAP team.”

Fredrikson & Byron, P.A. served as legal counsel to ASAP. Financing for the transaction was provided by Maranon Capital.