ADD designs, manufactures, and distributes truck, SUV, and Jeep accessories. It’s Drake’s second acquisition in the off-road segment in 2018, and sixth acquisition overall.
ADD was founded by Jared Hare in 2007 with the desire to push the limits of design, a passion for customizing vehicles and a love for the desert. The company currently makes off-road bumpers and other accessories for a wide range of truck models including those produced by Chevrolet, Ford, Jeep, Nissan, Ram and Toyota.
“We are excited to welcome ADD to our robust portfolio of off-road parts and accessories,” said Drake CEO Keith Belair. “ADD is a strong brand known for superior design and high-quality products, making the company a great strategic fit and an excellent growth opportunity for both of our innovative companies.”
The Drake platform, since being launched by private equity firm Huron Capital in 2016, has also acquired DV8 Offroad, Proforged, Fender Gripper, Carroll Shelby Wheel Co., and OG Innovations.
“We are proud to join Drake Automotive to further expand our off-road and truck market capabilities,” said Hare, who will remain in his role as president of ADD under its new ownership. “We believe Drake’s resources will help to fuel new opportunities for us as our partnership evolves.”
ADD has worked for over a decade to build strong, lasting relationships with the OEMs and is already in development with full range of products for new truck and SUV platforms being launched this year and next, including the new Ford Ranger, according to the company.
“We believe ADD’s diverse off-road offerings and leading-edge designs are a great addition for Drake and will boost our position in the off-road aftermarket,” Michael Zukas, Huron Capital vice president. “We are thrilled to have ADD join the Drake family and are excited about the complementary products and incremental growth opportunities that we are gaining with this transaction.”