Kinderhook buys RR Manufacturing, Rocky Ridge Transportation

Kinderhook Industries LLC said March 12 that it acquired RR Manufacturing LLC and Rocky Ridge Transportation LLC. Financial terms weren’t announced. RR Manufacturing and Rocky Ridge are OEM authorized specialty vehicle manufacturer for light-duty pickup trucks.

Kinderhook Acquires Rocky Ridge

March 12, 2019

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of RR Manufacturing, LLC and Rocky Ridge Transportation, LLC (together, “Rocky Ridge” or the “Company”), a leading OEM authorized specialty vehicle manufacturer (“SVM”) for light-duty pickup trucks. Rocky Ridge represents Kinderhook’s 69th automotive-related transaction. Financial terms of the transaction were not disclosed.

Based in Franklin Springs, GA, Rocky Ridge is one of the three largest SVM’s in North America. The Company receives new vehicles directly from the OEMs through a bailment pool arrangement, adds specialty appearance and performance packages and then sells the “up-fitted” vehicles exclusively to OEM dealers with a full OEM warranty. Dealers enjoy enhanced margins and exclusive designs for their customers.

The Company has bailment pool agreements with General Motors, Ford, Nissan, and RAM. Rocky Ridge has built its brand through extensive investment in sales and marketing and was the first to develop a dealership direct marketing program to increase inventory turns at the dealers.

Burl Outlaw, CEO of Rocky Ridge, said, “We are excited about our partnership with Kinderhook. Our vision is to continue providing our customers with best-in-class up-fit kits for the leading OEM branded light-duty pickup trucks. We are maintaining an ongoing equity investment alongside Kinderhook and look forward to working with them to consolidate and grow the industry.”

Tom Tuttle, Managing Director of Kinderhook Industries, stated, “We are excited to welcome Rocky Ridge to the Kinderhook portfolio. We will look forward to adding additional capabilities, enhancing product offerings, growing production and sales capabilities, and continuing to expand geographical breadth.”

Kirkland & Ellis LLP served as legal counsel. Financing for the transaction was provided by Regions Bank.
About Kinderhook Industries

Kinderhook Industries, LLC is a private investment firm that manages over $3.0 billion of committed capital. We have made in excess of 200 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 track record of successfully and consistently building industry leaders.

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About Rocky Ridge:

Based in Franklin Springs, Georgia, Rocky Ridge is an OEM-authorized SVM for GM, Ford, Nissan, and RAM light-duty trucks. Rocky Ridge receives new vehicles directly from OEMs, then in turn sells up-fitted vehicles directly to dealerships.