One of the portfolio companies of Kinderhook Industries LLC, namely Tectum Holdings Inc, recently announced the acquisition of Applied Products Inc. Also known as Retrax, Applied Products Inc is the sixth acquisition under the Tectum Holdings name for Kinderhook and the 21st overall.
The financial details of the transaction were not made public.
According to THI CEO Bill Reminder, "We are very proud to have Retrax join the THI family. Retrax has a reputation for high quality products and their cutting edge design of retractable covers has changed the tonneau industry. Retrax will complement our product portfolio and deliver significant value to our customers. We feel extremely fortunate to welcome Retrax to the THI team."
For its part, Retrax General Manager Scott Fuller, who despite the acquisition will remain in the same position, said, "The entire Retrax team is excited to join forces with THI. We have always admired THI and its reputation in the marketplace for quality and innovation. The opportunity to partner with THI will accelerate our growth and new product development initiatives as well as expand our distribution network. We are honored to be a part of THI's family of industry leading brands and believe it is a perfect fit for Retrax and its employees."
Join the Conversation