Truck Hero Inc. has entered into an agreement to acquire Omix-ADA Inc., which stakes its claim as the “world’s largest independent developer and supplier of Jeep and off-road parts, accessories and floor liners.”
Omix-ADA’s family of brands includes Rugged Ridge and Alloy USA. The transaction, the terms of which were not disclosed, is expected to close by the end of October.
Founded in 1992 by Al Azadi and headquartered in Suwanee, Georgia, Omix-ADA’s product offering includes more than 13,000 active SKUs across the accessories, replacement and restoration categories. Omix-ADA’s products are sold in more than 90 countries worldwide, with more than 800 active customers across every Jeep aftermarket channel including warehouse distributors, jobbers, automotive dealerships, national retailers and online retailers.
Omix-ADA’s engineering and product management teams are led by passionate, skilled enthusiasts who live the Jeep lifestyle, keeping them deeply involved in the latest aftermarket trends and technology, according to the company. By continuously investing in new products and product lines, Omix-ADA is able to service Jeep owners with models dating back to 1941.
“Jeeps are the No. 1 most accessorized vehicle in the world and Omix-ADA is by far the most respected player in the steadily growing Jeep aftermarket space,” said Bill Reminder, president and CEO of Truck Hero. “Al has been immersed in the Jeep industry since childhood and has leveraged his deep understanding and appreciation for the vehicle to build a highly successful business that offers Jeep enthusiasts the broadest line of replacement products and branded functional accessories to match their lifestyles. We are thrilled that Omix-ADA is now part of Truck Hero, and we look forward to leveraging our sales and marketing capabilities and Omix-ADA’s unrivaled portfolio to accelerate our growth and build on the Company’s position as a trusted go-to source for aftermarket parts and accessories.”
“Since our inception, Omix-ADA has been at the heart of the Jeep community, continuously introducing innovative parts and accessories that allow millions of passionate Jeep owners to make vehicles their own,” Azadi said. “We are excited to partner with Bill and the Truck Hero team who, like us, are recognized as leaders in product innovation with a highly sought after family of premier brands. With Jeep popularity expected to continue to grow and generate accessory and replacement part demand, we believe the Jeep aftermarket will benefit from Omix-ADA and Truck Hero’s resources for years to come.”
During the early period of the integration of Truck Hero and Omix-ADA, Azadi intends to serve as an advisor and consultant to Reminder on a limited basis.
This transaction marks Truck Hero’s 13th acquisition since its formation in 2007 and, according to the company, is well aligned with its growth strategy of acquiring businesses within the vehicle accessory market that further diversify its product portfolio into attractive, complementary, high-growth segments.
Jefferies acted as the sole financial advisor to Omix-ADA. In addition, Jefferies provided a financing commitment for the transaction and will serve as sole Lead Arranger of the financing.