L Catterton-led Consortium Acquires Controlling Interest in Truck Hero
December 8, 2020
A consortium led by consumer-focused private equity firm L Catterton — including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company and StepStone Group — has agreed to acquire a controlling interest in Truck Hero, Inc. CCMP Capital and Truck Hero founder/CEO Bill Reminder will remain meaningful investors. Truck Hero, headquartered in Ann Arbor, Michigan, is a leading manufacturer and marketer of branded aftermarket truck and Jeep accessories and operates the direct-to-consumer site RealTruck.com; the deal was expected to close in Q1 2021.
- Buyers
- L Catterton, Abu Dhabi Investment Authority (ADIA) (via wholly-owned subsidiary), Mubadala Investment Company, StepStone Group, Inc.
- Targets
- Truck Hero, Inc.
- Sellers
- Existing shareholders (including CCMP Capital)
- Industry
- Consumer Products
- Location
- Michigan, United States
- Transaction Type
- Buyout
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