THI Acquired by Private Equity Firm

Jul 31, 2014

THI was formed in 2007 by Kinderhook Industries with a merger between Extang and TruXedo. THI has expanded to a family of seven brands, including Extang, TruXedo, BedRug, UnderCover, Advantage, Retrax and, most recently, BAK Industries.

“We are excited about our new partnership with TA Associates and consider ourselves fortunate to be part of a distinguished, world class private equity firm and their exceptional portfolio of companies,” said Bill Reminder, CEO and president of THI. “TA Associates’ four decades of experience working with emergent, profitable companies will provide a significant benefit to us as we enter our next phase of growth.

“THI is committed to building on our established initiatives, the pursuit of additional acquisition opportunities and new product launches,” he added. “I’m convinced that we will continue to thrive and set the standard for the industry’s best truck accessories through the combined capabilities of our companies.”

Reminder said that he will continue in his current role, as will all members of the company’s executive and management teams.

“THI has demonstrated the ability to unite great companies into a cohesive family and advance the tonneau category through innovative products, marketing and consumer awareness. THI’s strong brand equity, loyal customer relationships and outstanding reputation has been rewarded with more consumers putting THI tonneau covers on their trucks than any other brand,” said Michael Berk, managing director at TA Associates. “We look forward to bringing our extensive experience, insight and financial backing to THI’s plan to further develop the truck accessory market.”