Minimizer, a manufacturer of poly semi truck fenders, has announced that private equity firm Capital Partners is investing in the business.
Minimizer says the two are joining forces to “fast-track Minimizer’s growth strategy,” with the goal to expand product lines and support the rapid growth of the company, including investing in people, equipment and the development of additional capabilities.
“We are very excited about our new relationship with Capital Partners,” said new Minimizer CEO and President Christopher Thorpe. “Over the past six months, we conducted an exhaustive search for the right investor, one who shared our cultural beliefs and plans for growth over the next five years. Capital Partners is an ideal fit to help take Minimizer to the next level.”
Former Minimizer CEO Craig Kruckeberg will remain invested in the company and participate on the management board.
“This is the best of both worlds for me, personally. While I will remain very much involved with Minimizer, this partnership will allow me to pursue other interests, including the Bandit Big Rig Series,” said Kruckeberg. “As a second-generation owner, I wanted a firm that knew our industry and has a history of looking after the people, so I was very happy we could move forward with Capital Partners.”
Capital Partners, based in Connecticut, has a history of investing in heavy-duty truck part companies.
“Unlike most private equity firms, we use a low debt investment approach designed to support rapid growth,” said Managing Partner Mark Allsteadt. “Minimizer is a tremendous fit for us, with a great owner in Craig Kruckeberg and a committed and talented management team, which remains in place as our partner.”