Covercraft Sold to Private Equity Group

CovercraftCentury Park Capital Partners has completed the sale of Covercraft Industries to Audax Private Equity, the company announced.

Covercraft is a branded manufacturer of custom vehicle protection products including automotive covers, seat covers, front end masks, dashboard covers, window sunscreens, RV covers, boat covers, bimini tops and other products. The company focuses on custom-fitted covers with a library that includes more than 300,000 patterns for distinct automotive, marine and outdoor protection products, the company said.

Covercraft was founded by Bob Lichtmann in 1965, who established the company as a leading brand in the custom automotive accessory market. Marty Lichtmann, son of the founder, served as President and CEO when the family sold majority control of the company to Century Park in 2015. Under Century Park, Covercraft has enjoyed positive growth in the automotive sector, the company said, with the acquisition of seat cover brands GT Covers and Marathon Seat Covers. Additionally, the company made an entrance in the RV and marine markets with the acquisition of ADCO and Carver Industries.

Matt Jordan, CEO of Covercraft, said “We’re terrifically excited to be part of the Audax family moving forward. Audax is not only one of the leading private equity funds in the United States, but one with a great track record of helping companies increase in scale while retaining the values they were founded on,” said Matt Jordan, CEO of Covercraft. “The Lichtmann family started Covercraft with a focus on creating the best vehicle protection products possible – and did so with a huge emphasis on integrity and quality. We’re committed to retaining those core values.”

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