SEMA eNews Vol. 12, No. 14, April 9, 2009

Extang, TruXedo Parent Company Acquires BedRug Assets

THI, the parent company of the Extang Corporation and TruXedo Inc., has acquired the assets of BedRug from Wise Industries Inc. North American soft-tonneau manufacturer THI was created as an investment vehicle of the private-equity firm Kinderhook Industries.

“Consistent with its strategy for Extang and TruXedo, Kinderhook intends to support a vigorous investment program in marketing and new product development at THI and BedRug to expand into the next generation of accessories for the back of a pickup truck,” stated Kinderhook’s managing director Thomas Tuttle in a company press release.

Part of the acquisition includes merging BedRug into THI’s group of aftermarket companies under THI’s CEO Bill Reminder and COO Kelly Kneifl.

Tuttle also noted that Kinderhook and THI will continue to explore additional strategic acquisition opportunities in the light-truck aftermarket that are consistent with THI’s overall strategy.

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