April 12, 2022
New York, NY – Leonard Group, Inc. (“Leonard”), the leading full-service retailer of truck accessories, trailers, and sheds in the Southeast, announced today the acquisition of Cook Portable Warehouses (“Cook” or the “Company”). Headquartered in Cobden, IL, Cook is a leading manufacturer and retailer of premium storage sheds across a 14-state footprint. Cook is Leonard’s fourth add-on acquisition since partnering with Kinderhook Industries, LLC (“Kinderhook”) last year. Financial terms of the transaction were not disclosed.
Founded in 1984, Cook delivers a broad assortment of quality portable storage solutions through its 65 company operated retail locations and a broad network of independent dealers, supported by 5 strategically located manufacturing facilities. Cook has established itself as the leader in its markets by providing unmatched value, exceptional product quality, and superior customer service. The acquisition of Cook will accelerate Leonard’s expansion plans by providing a sizable retail and manufacturing presence in new geographies stretching across the Midwest, Texas, and Gulf Coast.
“We are more than excited to welcome the entire Cook team to Leonard. The Cook manufacturing expertise and long-tenured team, coupled with the additional Cook retail locations, will be a catalyst for our unit growth and expansion strategy,” said Mike Pack, CEO of Leonard.
“The combination of Cook and Leonard is an exceptional match given both companies’ commitment to quality and exceptional customer service. We look forward to working together to better serve our customers,” said Greg Cook, Founder and President of Cook.
“We are thrilled with the addition of Cook, and we look forward to leveraging the capabilities of the combined businesses to accelerate growth. With this transaction, Leonard has nearly doubled its number of corporate retail locations and attained critical manufacturing capabilities,” said Tom Tuttle, Managing Director of Kinderhook.
“Consistent with our original investment thesis, the acquisition of Cook brings Leonard closer to becoming a national retailer. Following this acquisition, Leonard has a retail presence in 18 states, and with more than 135 corporate-managed retail locations we will be the leading specialty retailer of storage sheds, trailers, and truck accessories in North America,” said Paul Cifelli, Managing Director of Kinderhook.
Monroe Moxness Berg PA served as legal counsel to Leonard. Financing for the transaction was provided by Twin Brook Capital Partners, LLC.