Aftermarket car accessories and restoration parts platform Drake Automotive Group has acquired Riverside, California-based DV8 Offroad. DV8 designs and distributes off-road accessories and wheels. The deal marks the fifth add-on acquisition for the Drake platform investment since its launch in 2016.
Drake Automotive Group is held by Huron Capital, a lower-middle-market private equity firm.
DV8 for the past 15 years has provided consumers and specialty retailers in the off-road, modern muscle and classic vehicle markets with high-quality wheels and accessories, including bumpers, hard tops, fenders and hoods, according to the company, which was founded by CEO Bob McMath in 2003 and is currently managed by Landon McMath and Cole McMath.
“We are excited to align with such a successful, growth-oriented company to help us expand Drake’s offerings in the off-road market,” Drake CEO Keith Belair said. “We believe DV8 is a great fit and the acquisition will serve as a significant step forward in the strategic evolution of both companies.”
The acquisition of DV8 is aligned with Drake’s growth strategy aimed at expanding its offerings to off-road and truck enthusiasts, according to the company. Since 2016, Drake has acquired Proforged, Fender Gripper, Carroll Shelby Wheel Co., and OG Innovations.
“We believe Huron Capital offers expertise in helping grow businesses and we are excited to join the Drake team and bring an expanded portfolio of products to our customers,” said Bob McMath. “We think Huron Capital’s operational expertise and resources will provide the DV8 brand with new opportunities for growth and innovation.”