Kinderhook invests in Bestop - Thomson Reuters' peHUB (press release)
Kinderhook Industries LLC has acquired a stake in Bestop Inc. Kinderhook and Magna have equal stakes in Bestop but Kinderhook has control of the company’s day-to-day operations, according to Tom Tuttle , a Kinderhook MD. Bestop management also has a stake, he said. A Kinderhook/Magna joint venture will be looking to develop new products and make acquisitions in the Jeep Wrangler aftermarket, Tuttle said. Louisville, Colorado-based Bestop makes soft tops and fabric accessories for Jeep vehicles. New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today that they have executed a transaction whereby Bestop, Inc. (“Magna”) by a new Kinderhook / Magna joint venture which will pursue growth opportunities in the Jeep aftermarket. This is Kinderhook’s 8th automotive platform investment and 16th transaction in the automotive aftermarket sector. Headquartered in Louisville, CO, Bestop is the market leading manufacturer of soft tops and fabric accessories for Jeep vehicles and the sole supplier of OEM soft tops for Jeep Wranglers since 1986. Bestop has been a premier brand in the Jeep and... Source: www.pehub.com
