Automotive Keys Group LLC (AKG), a portfolio company of Kinderhook Industries LLC has announced the acquisition, in partnership with management, of Midwest Keyless Inc.
Based in Spring Grove, Illinois, Midwest Keyless is a remanufacturer and distributor of replacement OEM and aftermarket keyless entry remotes and keys as well as key-cutting and programming equipment. Financial terms of the transaction were not disclosed.
Midwest Keyless serves more than 3,000 locksmiths and automotive professionals throughout the United States and Canada and provides leading technical support and ongoing education through its on-staff experts and training seminars on programming and key-cutting equipment. The acquisition of Midwest Keyless magnifies AKG’s presence in the wholesale and locksmith sales channels and adds a highly experienced and committed team to the organization. The company’s differentiated procurement model and exemplary customer service processes will be leveraged across the broader AKG platform.
Ayal Sharvit, CEO at AKG, stated, “The Midwest Keyless team is an invaluable addition to AKG and together we will enhance the growth potential of our combined businesses. The integration of Midwest Keyless will allow us to better serve our customers and expand our relationships with locksmiths and other professionals nationwide and in Canada.”
“Midwest Keyless has been a standard-setting automotive replacement keys company for over 15 years and is known for its knowledgeable staff who have a wealth of expertise on the ever-changing technology of the locksmith industry,” said Paul Cifelli, Managing Director at Kinderhook. “Our growing AKG platform is following the path of many previous Kinderhook successes in the automotive aftermarket.”
Monroe Moxness Berg PA served as legal counsel to AKG. Conlin & Co served as financial advisor to Midwest Keyless, Inc.