Kinderhook’s Bestop buys Precision Designs

The acquisition of sPOD represents Bestop’s eighth add-on.

Bestop, backed by Kinderhook Industries, has acquired Precision Designs, which does business as sPOD. sPOD, Bestop makes and distributes precision power distribution and switch panel systems for the automotive market.

PRESS RELEASE

New York, NY – Bestop, Inc. (“Bestop”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced the acquisition of Precision Designs LLC d/b/a sPOD (“sPOD” or the “Company”), a manufacturer and distributor of precision power distribution and switch panel systems for a variety of off-road and utility vehicles. sPOD represents Bestop’s eighth add-on acquisition and Kinderhook’s 110th automotive related transaction.

“We are excited to partner with another premium brand to incorporate into the Bestop portfolio. We plan to drive significant growth at the Company through Bestop’s existing capabilities. Given sPOD’s compatibility with Baja Design’s lighting systems, we will be able to offer consumers bundled opportunities and new, unique product packages going forward.” said John Larson, Chief Executive Officer of Bestop.

“This acquisition further expands Bestop’s product offering. With Bestop’s integrated website up and running, we will be able to add to our growing digital presence, creating a one-stop-shop across numerous product categories. We believe the website will grab end users from a wide variety of applications and drive topline growth across our brands.” said Tom Tuttle, Managing Director of Kinderhook.

“We appreciate the Bestop teams’ knowledge and are excited to work with them as the Company moves forward to its next stage of growth. With Bestop’s R&D capabilities, we are excited to build out our new product development and launch innovative products in the coming years.” said John and Cinde Angelastro, founders of sPOD.

Monroe Moxness Berg served as legal counsel to Bestop.