FOR IMMEDIATE RELEASE
February 12, 2002 |
|
PAC HOLDING COMPANY ACQUIRES TRENZ™
Acquisition Expands PAC’s Aftermarket Auto & Truck Accessories
Business, Paving Way for Future Growth
Over the past three years, PAC Holding Company (“PAC”)
has built a strong base of aftermarket truck and automotive accessories
manufacturers, with products including retractable tonneau covers,
body styling kits, grill guards and tube steps. Formed in 1998 by
Russell E. Stubbings and Chicago-based private equity firm Prospect
Partners, LLC, PAC has successfully grown through select mergers with
and acquisitions of leading auto and truck aftermarket accessory manufacturers,
including: Pace-Edwards Company, Wings West, Inc., Adleco d/b/a Bedlocker,
LTD Accessories and Go Rhino! Products.
Trenz™ , of Bakersfield, CA, is a manufacturer and supplier
of high-quality aluminum automotive aftermarket parts and accessories
for light trucks, sport utility vehicles, automobiles and motorcycles.
The company is known for its innovative, high-end custom aluminum
products, including billet aluminum grills, dash kits, door and
step plate inserts, steering wheels, custom motorcycle wheels, and
other interior/exterior accessories. Formed in 1993 by Doug DeBerti,
the company has assumed a leadership role in the manufacture and
design of innovative aluminum automotive products. Through its employment
of new technology and manufacturing methods and a steadfast commitment
to exceptional quality and customer service, Trenz has built a reputation
for its products that far exceeds its size. Doug DeBerti will continue
to lead Trenz as President during this exciting time.
“Trenz is a great fit for our company, and provides excellent
synergy with our portfolio of manufacturers,” explains Russ
Stubbings, Chairman and CEO of PAC. “Trenz represents another
major step forward for PAC in our strategy to grow the automotive
accessories business with unique and innovative products. Doug DeBerti
and his team are great assets to our company in terms of their expertise
and success in the business, and we are looking forward to working
together in building the Trenz division of PAC.”
“We are very excited about the opportunity to bring Trenz
into our auto and truck aftermarket accessories business,”
explains Erik E. Maurer, a Principal of Prospect Partners, LLC and
a Director of PAC. “The acquisition provides access to an
excellent array of products that can be offered to PAC’s existing
customer base. The various companies and the team we’ve brought
together at PAC reflect our approach—we are committed to establishing
a strong industry presence by building solid, growth-oriented companies.”
“This is a great opportunity for Trenz to take advantage
of existing and immediate growth opportunities,” supports
Doug DeBerti. “PAC brings the capital, marketing channels,
additional product lines and reputation we need to support our expansion
and subsequent value creation for our company and our customers.”
Together, Prospect Partners and PAC will be seeking to acquire
other well established, privately owned manufacturers of automotive
and truck aftermarket accessory companies to bring under the PAC
umbrella.
Prospect Partners, LLC of Chicago, Illinois is a $105 million private
equity fund focused on management-led leveraged acquisitions of
lower middle market companies with niche strategies.
For more information on PAC Holding Company, visit www.pace-edwards.com,
www.wingswest.com, and www.gorhino.com.
For more information on Trenz, visit www.trenz.com.
|
