Superwinch is the second platform investment in Kinderhook Capital Fund IV, a private equity fund raised in 2014 with $500 million of committed capital. The transaction represents Kinderhook’s seventh automotive aftermarket platform investment and 14th transaction in the automotive aftermarket sector. Financial terms of the transaction were not disclosed.
Headquartered in Dayville, Conn., Superwinch is a privately held designer, manufacturer and marketer of winch systems and accessories. The company produces a large variety of winch products including electric winches, power drives, hydraulic winches, accessories, parts and hubs that are sold to both the consumer and industrial end-markets.
As part of Kinderhook’s acquisition of Superwinch, industry veteran David Burns will assume the role of CEO concurrent with the closing.
“Superwinch has developed into one of the leading brands in the winch industry and I’m thrilled to have the opportunity to leverage my 10-plus years of aftermarket experience at Warn Industries to lead the company in its next phase of consumer driven growth. With Kinderhook as our new partner, we will continue to invest in research and development and launch new and innovative products like the Talon series of winches.”
Tom Tuttle, managing director at Kinderhook, stated, “We are excited to partner with David and his management team in executing our global growth plans for Superwinch through both organic and acquisition-led growth. David brings more than 20 years of industry experience, unprecedented leadership and relationships. We are thrilled to partner with him and the high caliber team he has assembled to lead the company.”
“The acquisition of Superwinch aligns perfectly with Kinderhook’s investment strategy of partnering with world-class management teams to acquire companies that are leaders in their respective niches,” said Paul Cifelli, managing director at Kinderhook. “Kinderhook has developed an expertise in the automotive aftermarket and we are excited about the opportunity to work with Mr. Burns and his team to support his vision for growth at a market leader like Superwinch. Kinderhook’s proven ‘buy-and-build’ strategy will accelerate the company’s growth and allow us to build the largest and most diverse supplier of winches to both the consumer and industrial markets.”
Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by TCF Capital Funding.