Builder News, News, V7I4

Kinderhook Acquires Leonard

(Photo courtesy of Leonard)

Kinderhook Industries LLC, a private investment firm, reports that earlier this year it acquired LAUB Holdings LLC  (Leonard) from Copeley Capital Management.  

Leonard is one of the largest full-service retailers of truck accessories, trailers, and sheds in the United States.

“Leonard offers a unique opportunity to invest in a distinct business model with an experienced management team in a sector in which Kinderhook has deep experience,” says Tom Tuttle, managing director of Kinderhook Industries.

The company represents Kinderhook’s 26th automotive/light-manufacturing platform since its inception. Financial terms of the transaction were not disclosed. 

In operation since 1963, Leonard serves its customers through 59 retail locations in the Southeast. 

Leonard’s sheds are manufactured in the company’s Mount Airy, North Carolina, facility and its trailers are contract manufactured in the United States. 

The company’s assortment of truck accessories offers fit, function, and style for truck enthusiasts seeking to enhance their vehicles for both professional and recreational purposes.

“With a nearly 60-year heritage, Leonard is a high-profile brand in its core markets,” says Mike Pack, chief executive officer of Leonard. “The Leonard team is excited to partner with Kinderhook to build Leonard’s footprint and bring quality products and trusted service to even more customers.” 

“Kinderhook is excited to partner with Mike Pack and his executive leadership team as they continue the geographic expansion of Leonard’s unique retail model which provides for a high touch, in-person experience that is beneficial to customers who are in the market for high-quality sheds, trailers, and truck accessories,” says Paul Cifelli, managing director of Kinderhook Industries. 

Kirkland & Ellis LLP served as legal counsel to Kinderhook. Piper Sandler & Co. served as the exclusive financial advisor, and K&L Gates acted as legal advisor to Leonard and Copeley in connection with the transaction. 

Financing for the transaction was provided by Twin Brook Capital Partners LLC.

Leave a Comment

Your email address will not be published. Required fields are marked *


Current Issue

April/May 2024