Audax Private Equity (“Audax”), in partnership with management, has completed the sale of CURT Group (“CURT”, or the “Company”) to Lippert Components, Inc. (“LCI”), a wholly-owned subsidiary of LCI Industries (NYSE: LCII).
Headquartered in Eau Claire, WI, CURT is a leading designer, manufacturer, marketer and distributor of towing, towing accessory and other vehicle accessory products. The Company maintains a robust product portfolio comprised of thousands of SKUs across various product lines, including hitches, towing electricals, ball mounts, and cargo management. CURT has a significant market position, owning and operating a stable of leading brands, including CURT, Aries, Luverne, Retrac, and UWS. Under Audax ownership, CURT completed six add-on acquisitions, growing the towing accessories business and expanding offerings into aftermarket truck accessories.
Jay Mitchell, Managing Director at Audax Group, said, “We are incredibly proud to have partnered with Rock Lambert and the CURT team. Through organic and acquisition growth the Company has expanded its product portfolio and manufacturing capabilities, while diversifying the business into a broader aftermarket towing and truck accessories provider. We are thankful for the CURT team’s hard work and wish them the best.”
Rock Lambert, CEO of CURT, said, “Thank you to Audax for their support over the past five years. Together, we have expanded our business both organically and through the completion of six add-on acquisitions. We believe that the Company is well positioned to continue our growth trajectory and we look forward to partnering with LCI.”
Robert W. Baird & Co. and Kirkland & Ellis LLP served as advisors to CURT Group.