Le Lézard
Classified in: Transportation, Business
Subject: TNM

Huron Capital's Drake Automotive Platform Completes Fifth Add-on


DETROIT, June 19, 2018 /PRNewswire/ -- Leading lower-middle-market private equity firm Huron Capital today announced its aftermarket car accessories and restoration parts platform, Drake Automotive Group ("Drake"), has acquired Riverside, California-based DV8 Offroad ("DV8"), a designer and distributor of off-road accessories and wheels.  The deal marks the fifth add-on acquisition for the Drake platform investment since its launch in 2016.

For fifteen years, DV8 has provided consumers and specialty retailers in the off-road, modern muscle and classic vehicle markets with high-quality wheels and accessories, including bumpers, hard tops, fenders and hoods. DV8 was founded by CEO Bob McMath in 2003 and is currently managed by Landon McMath and Cole McMath.

"We are excited to align with such a successful, growth-oriented company to help us expand Drake's offerings in the off-road market," Drake CEO Keith Belair said. "We believe DV8 is a great fit and the acquisition will serve as a significant step forward in the strategic evolution of both companies."

The acquisition of DV8 is aligned with Drake's growth strategy aimed at expanding its offerings to off-road and truck enthusiasts. Since 2016, Drake has also acquired Proforged, Fender Gripper, Carroll Shelby Wheel Company and OG Innovations.

"We believe Huron Capital offers expertise in helping grow businesses and we are excited to join the Drake team and bring an expanded portfolio of products to our customers," said Bob McMath. "We think Huron Capital's operational expertise and resources will provide the DV8 brand with new opportunities for growth and innovation."

"With its solid customer base, complementary offerings and strong reputation within the enthusiast market, we believe the acquisition of DV8 will further enhance Drake's position as a leader in the automotive aftermarket parts industry," Huron Capital Vice President Michael Zukas said.

About Huron Capital
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 150 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm's operational approach to creating value. Huron Capital's sector focus includes business services, consumer products & services and specialty industrials.  For more information, please visit www.huroncapital.com.

 

SOURCE Huron Capital


These press releases may also interest you

at 07:35
PHINIA Inc. , a leader in premium fuel systems, electrical systems and aftermarket parts, will report first quarter 2024 results on Thursday, April 25, 2024. PHINIA's earnings press release, earnings presentation and other materials will be available...

at 07:35
Consolidated copper production is expected to average 153,000i tonnes per year over the next three years, representing a 16% increase from 2023 and demonstrating Hudbay's strong and stable operating portfolio with three long-life operations in...

at 07:30
AGF Investments Inc. (AGF Investments)  today announced the proposed termination of AGF Global Opportunities Bond ETF (ticker: AGLB), AGF Systematic Canadian Equity ETF (ticker: QCD) and AGF Systematic Emerging Markets Equity ETF (ticker: QEM) (each...

at 07:30
Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") today released its annual consolidated financial results. HIGHLIGHTS Revenue for 2023 was $48.5 million compared to $49.9 million the prior year, due to weakness in the Canadian...

at 07:30
Hakluyt, the global strategic advisory firm for businesses and investors, recorded another period of robust financial growth in the year ending 30 June 2023, expanding its core advisory business while investing for the future. The firm's financial...

at 07:30
Vizcom, a company deploying AI to transform the future of industrial design, announced today that it has raised $20 million in Series A funding. The round was led by Index Ventures with participation from a high-profile roster of angel investors,...



News published on and distributed by: