Huron Capital Partners, a middle-market private equity platform based in Detroit, today announced its off-road and overlanding automotive aftermarket accessories platform, which goes to market under the brand names Addictive Desert Designs (ADD) and DV8 Offroad —collectively known as Horsepower — has acquired Rago Fabrication.
Terms of the transaction were not disclosed.
Rago was founded in 2013 by U.S. Navy veteran Mario Rago. It is a manufacturer and distributor of off-road and overland aftermarket products focused primarily on Toyota and Lexus vehicles such as the 4Runner, Tacoma, and GX460.
Headquartered in Kerrville, Texas, Rago designs and fabricates products including storage solutions, bed racks, lighting mounts, gear mounts, armor, and other accessories for the off-road and overlanding enthusiast.
“The addition of Rago will significantly expand our product offerings. We have offered a range of high-quality accessories for Jeep, Raptor, Bronco and other truck and SUVs for years,” says John Robinson, CEO of Horsepower.
“The addition of Rago provides Horsepower with both complementary vehicle platform capabilities, given Rago’s Toyota and Lexus focus, and enhances our R&D activity through the addition of a team that can deliver unique products for the off-road and overlanding enthusiast.”
Melissa Rago, owner and operator of Rago says: “We have earned our brand loyalty over the years by consistently delivering high-quality, innovative products to our customers. Combining Rago with the ADD and DV8 brands boosts our ability to expand our products beyond the Toyota platforms, by partnering with a team of enthusiasts whose job during the week is their passion on the weekend.”
Huron Capital focuses on niche segments within commercial and industrial services, professional services, and the consumer services sectors. It has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in more than 240 companies, and its portfolio companies have employed over 11,000 people throughout North America.