San Fernando-based Laurmark Enterprises, which does business as BAK Industries, was acquired by Ann Arbor, Mich.-based Tectum Holdings Inc. Financial terms of the transaction were not disclosed.
BAK Industries, which was founded by Julian and Ivan Maimin in 1988, is a manufacturer of hard composite folding, rollup and retractable tonneau covers. Julian Maimin left the company after the transaction. However, Charly Henly, BAK’s national sales manager, and the rest of the company’s management team and staff, will maintain their positions.
“BAK Industries is the same BAK industries it was before before,” Henly told Restyling & Truck Accessories. “We’ve resigned our lease; we’re here in California producing products with the same staff. We’re doing it the same way that we’ve done it for 26 years now. All of our BAK management team and personnel are in place.”
BAK is the seventh acquisition for THI, which also owns Extang, TruXedo, BedRug, UnderCover, Advantage and Retrax.
“We are very happy to welcome BAK into the THI family,” said Bill Reminder, CEO of THI. “The BAK team has done an outstanding job of introducing industry-changing products to truck owners, which is highlighted by BAK’s highly successful BAKFlip tonneau. BAK’s product lineup is an excellent addition to THI’s extensive product portfolio and BAK’s online marketing expertise will be highly complementary to THI’s current distribution and marketing initiatives.”
Dealers can expect the same passion, quality and customer service from BAK Industries, with the addition of new products and promotions, according to Henly, who will report directly to Reminder.
“We’re a company that has so many blessings, and the integration of BAK Industries into THI is just one more of those blessings,” he said. “I never considered TruXedo and Extaang competitors to Undercover. Now that we’ve become sister companies, we’ve become greater by the sum of all parts. We’ve been working with them closely during this first week of transition about the opportunities that we present for THI and equally the opportunities that THI represents for BAK Industries.”
For more information, visit www.bakindustries.com.