April 24, 2023
Hudson, WI – All States Ag Parts, LLC (“All States Ag Parts” or “ASAP”), the leading North American supplier of replacement agricultural and heavy equipment parts, announced the acquisition of Steel Tracks, Inc. (“Steel Tracks” or the “Company”). Founded in 2014, Steel Tracks is a specialized distributor of steel tracks, rubber tracks, and aftermarket undercarriage parts primarily through the heavy equipment dealer channel. Steel Tracks has two locations with a warehouse and headquarters in Brandon, MS, as well as a distribution center in Woodstock, OH. Steel Tracks is ASAP’s seventeenth add-on acquisition since partnering with Kinderhook in 2018.
The acquisition will further strengthen ASAP’s position as a leading supplier of aftermarket tracks and undercarriage parts for heavy construction equipment; while ASAP is a large player in the rubber tracks market today, steel tracks will be an additive sub-product category for the business. Key members of Steel Track’s management team will remain with the business post-close, including Steel Track’s Founder Richard Farquhar. With the addition of Steel Tracks, ASAP now operates 54 locations across North America.
“The acquisition of Steel Tracks continues our expansion into serving the construction equipment industry with a full line of parts. ASAP has become a leader in the rubber tracks and undercarriage parts industry over the past 18 months. This acquisition adds the important steel tracks category to our mix,” said Bill Davidson, President and CEO of ASAP.
Paul Cifelli, Managing Director at Kinderhook, stated, “The Steel Tracks acquisition enhances ASAP’s ability to meet the growing needs of its customers. ASAP has successfully added new product lines to its portfolio through M&A, enabling the business to serve an increasingly diverse base of end customers. We are excited to welcome the Steel Tracks team to the ASAP platform, and look forward to a successful partnership.”
Fredrikson & Byron P.A. served as legal counsel to ASAP.
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