FOR IMMEDIATE RELEASE
July 14, 2000 |
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PAC HOLDING COMPANY MERGES WITH GO RHINO! PRODUCTS
ORANGE, CA: July 14, 2000:California Aluminum Products, Inc. doing
business as Go Rhino! Products (“Go Rhino!”), a leading
manufacturer and marketer of chrome-plated and painted steel grille
guards and side steps, today announced that it merged with PAC Holding
Company (“PAC”) of Denver, CO. Formed in 1998 by Russ
Stubbings and Prospect Partners, PAC has built a base of automotive
and truck accessories companies through its acquisitions of Pace-Edwards
Company, a manufacturer and distributor of retractable tonneau covers
and Shelf-It/Rifle-It branded products, and Wings West, Inc., a manufacturer
and marketer of body styling kits.
We are excited about the opportunity to expand on what we have
built here. We are fortunate to have assembled an excellent team
that has made our success possible. Our relationship with PAC will
allow us to capitalize on the momentum that has been building in
our business, said Ron Storer, the President of Go Rhino!
Go Rhino! will continue to operate from its facilities in Orange,
CA. All of Go Rhino’s employees under the leadership of Ron
Storer, Go Rhino’s President, will continue in their current
capacity.
Russ Stubbings, Chairman and CEO of PAC Holding, formerly served
as CEO of Deflecta-Shield Corporation and prior to that as COO of
Lund International both NASDAQ-listed manufacturers and marketers
of aftermarket truck accessories. “ We are very thrilled about
the prospect of working with Go Rhino!. The people at Go Rhino!
impressed us throughout this transaction with their energy and focus
on customer service and quality. We believe that Go Rhino! will
continue to enhance our platform on which to build a very special
company in this industry”, commented Mr. Stubbings.
Prospect Partners, LLC manages a $105 million private equity fund
focused on financing management-led leveraged acquisitions and providing
growth capital for lower middle market businesses with niche strategies.
Go Rhino! provides an exciting opportunity to work with an innovative
and energetic management team in an evolving segment of the automotive
and truck accessory industry”, said Erik Maurer of Prospect
Partners.
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