Kinderhook Acquires Superwinch
March 25, 2015
New York, NY - Kinderhook Industries, LLC (“Kinderhook”) announced today the acquisition of Superwinch Holding LLC (“Superwinch” or the “Company”) from Islington Capital Partners. Superwinch is the second platform investment in Kinderhook Capital Fund IV, a private equity fund raised in 2014 with $500 million of committed capital. The transaction represents Kinderhook’s 7th automotive aftermarket platform investment and 14th transaction in the automotive aftermarket sector. Financial terms of the transaction were not disclosed.
Headquartered in Dayville, CT, Superwinch is the largest privately held designer, manufacturer and marketer of winch systems and accessories in the world. The Company produces a large variety of winch products including electric winches, power drives, hydraulic winches, accessories, parts and hubs that are sold to both the consumer and industrial end-markets. The Company’s winches have an outstanding reputation in the marketplace for their superior design, reliability and value proposition and have established a loyal following among off-road enthusiasts and industrial OEMs alike.
“The acquisition of Superwinch aligns perfectly with Kinderhook’s investment strategy of partnering with world-class management teams to acquire companies who are leaders in their respective niches,” said Paul Cifelli, Managing Director at Kinderhook. “Kinderhook has developed an expertise in the automotive aftermarket and we are excited about the opportunity to work a market leader like Superwinch. Kinderhook’s proven “buy-and-build” strategy will accelerate the Company’s growth and allow us to build the largest and most diverse supplier of winches to both the consumer and industrial markets.”
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by TCF Capital Funding.
About Kinderhook Industries
Founded in 2003, Kinderhook Industries is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25-$150 million in which the firm believes it can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com.
Headquartered in Dayville, CT, Superwinch is the largest privately held winch manufacturer in the world. The Company markets to both consumer and industrial customers through a diverse array of product offerings that include electric winches, hydraulic winches, power drives, accessories, parts and hubs. Its products are primarily sold under the well-recognized Superwinch brand name and through select private-label and co-branding relationships. The Company’s winches have an outstanding reputation in the marketplace for their superior design, reliability and value proposition and have established a loyal following among off-road enthusiasts and industrial OEMs alike. For more information please visit: www.superwinch.com