Auctus Capital Partners served as exclusive adviser to MOVE Inc. (MOVE Bumpers), which has been acquired by private investment firm BASE. The transaction was led by Auctus and its Managing Director William Allen.
“MOVE and BASE are well-suited partners with the right dedication and expertise to ensure a path for continued success. It was great working with the like-minded leadership of both companies to complete this transaction,” said Allen.
MOVE Bumpers has quickly become an industry leader in aftermarket steel truck bumpers, known for heavy-duty DIY truck bumper kits that come at half the cost of typical aftermarket truck bumpers. Its factory uses cutting-edge 3-D technology, as well as the latest computer numerical control (CNC) machines and metal forming equipment to create front and rear bumpers precisely to fit a wide range of truck makes, models, and years with ease.
“At MOVE, we made it our goal to provide vehicle owners with exceptionally-made, heavy-duty DIY bumpers that merge form with function,” said Dounder Jim Steen, who will continue to lead the Lewistown operation.
Since the company’s inception in 2013, MOVE has experienced exponential growth; developing an international customer base, an advanced fabricator network, and notable awards and industry recognition, including being named on the Inc. 5,000 list of the Top 500 fastest growing companies in America in 2017 and 2018.
“Aftermarket parts is one of the most attractive areas of growth in the automotive industry, especially among those that successfully utilize e-commerce and direct-to-consumer marketing strategies. This segment of the automotive industry is seeing interest from both strategic buyers and financial sponsors,” said Muhammad Azfar, managing partner of Auctus. “Our understanding of the automotive industry and related aftermarket parts sector, as well as appreciation for the needs of the seller and buyer contributed to a successful transaction for both parties.”
“Our partnership with BASE will allow us to pursue additional customer acquisition strategies, as well as expand our DIY bumper product lines and expand the sale of our utility racks, tire carrier kits and lights. These growth strategies complement our existing product lines and customer-focused marketing approach,” Steen added.
“With our investment in MOVE, we are excited to pair our experience with online marketing and manufacturing with MOVE’s innovative products and passionate community,” said Cameron Lord, Chief Investment Officer of BASE.
Terms of the acquisition were not disclosed.