Lower-middle-market private equity firm Huron Capital has announced that its aftermarket car accessories and restoration parts platform, Drake Automotive Group has acquired Mesa, Arizona-based Addictive Desert Designs (ADD), a designer, manufacturer and distributor of truck, SUV and Jeep accessories for the off-road aftermarket. The deal marks the sixth add-on acquisition for the Drake platform since it was launched in 2016.
ADD was founded by Jared Hare in 2007 with the desire to push the limits of design, a passion for customizing vehicles and a love for the desert. ADD currently makes off-road bumpers and other accessories for a wide range of truck models including those produced by Chevrolet, Ford, Jeep, Nissan, Ram and Toyota.
“We are excited to welcome ADD to our robust portfolio of off-road parts and accessories,” said Drake CEO Keith Belair. “ADD is a strong brand known for superior design and high-quality products, making the company a great strategic fit and an excellent growth opportunity for both of our innovative companies.”
The acquisition of ADD is directly aligned with Drake’s growth strategy aimed at expanding its offerings to off-road and truck enthusiasts. Since 2016, Drake also has acquired DV8 Offroad, Proforged, Fender Gripper, Carroll Shelby Wheel Co. and OG Innovations.
“We are proud to join Drake Automotive to further expand our off-road and truck market capabilities,” said Jared Hare, president of ADD, who will remain in his role and continue to lead ADD. “We believe Drake’s resources will help to fuel new opportunities for us as our partnership evolves.”
In just over a decade, ADD has forged deep relationships with automakers and is developing an exciting pipeline of products for new truck and SUV models that automakers are launching this year and next year.
“We believe ADD’s diverse off-road offerings and leading-edge designs are a great addition for Drake and will boost our position in the off-road aftermarket,” said Huron Capital Vice President Michael Zukas. “We are thrilled to have ADD join the Drake family and are excited about the complementary products and incremental growth opportunities that we are gaining with this transaction.”
