August 22, 2016
New York, NY – Bestop, Inc. (“Bestop” or the “Company”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of Tuffy Security Products, Inc. (“Tuffy”), a provider of premium secure storage products designed for Jeeps, trucks, SUV’s and other commercial vehicles. Tuffy represents the second add-on acquisition for Bestop and Kinderhook’s 36th automotive related transaction. Financial terms of the transaction were not disclosed.
Based in Louisville, CO, Bestop is the world’s largest manufacturer of soft tops and fabric accessories for Jeep vehicles and the sole supplier of factory soft tops on all Jeep Wranglers since 1986.
Headquartered in Cortez, CO, Tuffy is a leading provider of secure storage products to recreational and professional users. Tuffy’s heavy duty security solutions include steel consoles, drawers, glove boxes, trunks and other related accessories designed for Jeeps, trucks, SUV’s and other commercial vehicles.
“Tuffy has firmly established itself as a trail-blazer in the security products category. We are very excited to add them to the Bestop family of premium brands. The Tuffy acquisition complements Bestop’s existing lockbox business and is in line with the Company’s commitment to deliver the highest-quality products to its distributors, jobbers, and consumers. ” says Bestop CEO, John Larson.
In June, Bestop also acquired leading vehicle lights manufacturer, Baja Designs. “Bestop is growing both organically and through acquisitions,” adds Larson. “We continue to invest in brand development, aggressive product innovation, and working with our retail partners to drive the best-possible consumer experience. Baja Designs and Tuffy are just the first in a series of great brands which we intend to add to the Bestop family”
“The Tuffy and Bestop teams have a common mission – to help people better enjoy off-roading by delivering product excellence and leadership,” says Tuffy Founder and President, Shawn Gregory. “We are both committed to solving issues that get in the way of having fun and off-roaders are going to be excited to see what these two leading brands come up with in the future.”
Paul Cifelli, Managing Director of Kinderhook Industries, stated, “We are very excited that Tuffy has decided to partner with the Bestop and Kinderhook family and we look forward to leveraging the Bestop platform to further accelerate Tuffy’s growth. This acquisition further solidifies Bestop’s commitment to only offering its customers premium brands in each of its respective product categories.”
Monroe Moxness Berg PA served as legal counsel to Bestop.