Compiled by SEMA Editors
Covercraft Sells to Audax Private Equity
Century Park Capital Partners has announced that it has completed the sale of Covercraft Industries to Audax Private Equity. Covercraft—a manufacturer of custom vehicle protection products—was founded by Bob Lichtmann in 1965, who established the company as a leading brand in the custom automotive accessory market. Marty Lichtmann, son of the founder, served as president and CEO when the family sold majority control of the company to Century Park in 2015. Under Century Park, Covercraft has enjoyed positive growth in the automotive sector with the acquisition of seat cover brands GT Covers and Marathon Seat Covers. Additionally, the company made an entrance in the RV and marine markets with the acquisition of ADCO and Carver Industries, respectively.
Sunnen Promotes Chris Miltenberger to CEO
Sunnen Products Co. has announced the promotion of F. Christopher Miltenberger to the additional role of CEO. Miltenberger joined Sunnen as president/COO in 2015 with extensive operations, engineering and business development experience. During his tenure, he has been instrumental in Sunnen’s transformation of global operations, as well as improving customer contact management and relationship development. Prior to joining Sunnen, Miltenberger held positions with PlayPower Inc., NN Inc., Aftermarket Technology Corp. and Delphi.
Wheel Pros to Acquire Driven Lighting Group From Kian Capital
Wheel Pros, backed by Clearlake Capital Group L.P. and in partnership with management, announced it has signed a definitive agreement to acquire Driven Lighting Group (DLG)—a digitally native designer and online retailer of aftermarket enthusiast automotive lighting products—from Kian Capital. Financial terms of the transaction were not disclosed.
Headquartered in Atlanta, Driven Lighting Group is a designer, marketer, influencer and online retailer of enthusiast automotive aftermarket lighting products. DLG has established brands, such as Morimoto and Profile Performance, and in-house product development capabilities that deliver high-performance products. DLG’s creative content engine and e-commerce platforms have attracted a large community of enthusiasts and wide customer base ranging from hobbyists to performance-driven consumers.
Goodyear Promotes Thad Ewald to Vice President, Strategy and Business Development
The Goodyear Tire & Rubber Co. has announced that Thad Ewald has been hired as vice president, strategy and business development, reporting to Executive Vice President and Chief Financial Officer Darren Wells, effective August 23. Before joining Goodyear, Ewald was vice president, corporate strategy and development for Cummins Inc.—a Fortune 500 manufacturer of power products. In that role, Ewald was responsible for developing the company’s global strategy and the company’s growth office that invested in new technologies, including products, services, and digital business initiatives. During his tenure, Ewald also led the development of Cummins’ start-up in the electrified and hydrogen power segment and was responsible for joint ventures, acquisitions and divestiture transactions.
MAVTV Motorsports Network Promotes Kevin Asbell to COO, General Counsel
MAVTV Motorsports Network—the U.S.-based motorsports TV network owned and operated by Lucas Oil Products—has announced the executive promotion of Kevin Asbell to chief operating officer and general counsel. He was previously general counsel of Lucas Oil Products. In his new role, Asbell will be responsible for managing the day-to-day affairs of the network with direct accountability for operational planning, accounting, forecasting, administrative affairs, information technology and human resources. Additionally, he will continue to oversee the business and legal operations in relation to MAVTV while retaining his responsibilities as general counsel of the network.
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