Truck accessories supplier and digital enthusiast brand RealTruck Inc. has entered into a strategic agreement to acquire Vehicle Accessories Group (VAI).
VAI is a provider of automotive accessories and has a strong reputation for designing and manufacturing high-quality functional vehicle products, the companies noted in a press release announcing the planned acquisition.
“We are excited about bringing together two companies that complement one another and look forward to accelerating growth for both businesses,” said Carl-Martin Lindahl, CEO of RealTruck. “Further, this acquisition supports our strategic plans to grow the entire market by inspiring more people to bring their vehicle to life by accessorizing their vehicles.”
The acquisition will allow RealTruck to bring more products to VAI’s customers, leveraging VAI’s services to assist dealers in driving sales of the combined product portfolio, the release stated.
“RealTruck will deliver resources, expertise and global reach for our business operations, our products and to the benefit of our existing customers,” said J Pearson, executive chairman, VAI. “Simply put, joining the RealTruck family accelerates our future growth.”
The acquisition also expands RealTruck’s position across a broader group of both domestic and foreign vehicle manufacturers. In addition, both companies complement one another in terms of product offerings, with RealTruck having a strong portfolio for trucks, Jeep, Bronco and off-road enthusiasts, while VAI brings capabilities for SUV/CUVs and sedans, officials said.
The acquisition strengthens and expands RealTruck’s manufacturing capabilities. The company has experienced significant growth in recent years, while expanding manufacturing capabilities and accelerating the company’s international expansion outside of North America.
The transaction is expected to close in the first quarter of 2025 and is subject to receipt of customary regulatory approvals and several conditions that still need to be met, according to the release.
William Blair is serving as financial advisor and Latham & Watkins is acting as M&A legal counsel to RealTruck. Debt financing will be provided by Jefferies and RBC Capital Markets LLC.
