Detroit-based Huron Capital Partners’ auto aftermarket accessories platform, Drake Automotive Group in Nevada, has acquired Tyler, Texas-based Fender Gripper Inc. Terms of the deal were not disclosed.
Fender Gripper is a designer and distributor of branded automotive aftermarket products, including protective fender covers, trunk mats, and carpet underlayments.
“Fender Gripper’s products are a great addition to our catalog for end-users who love to restore classic cars or individualize their off-road or late-model muscle vehicles,” says Scott Drake, founder of Drake Automotive Group.
Founded in 1980, Fender Gripper serves the classic car, off-road, and late-model muscle car markets. It also offers licensed products for General Motors Co., Ford Motor Co., FCA U.S., and Busted Knuckle Products, as well as custom art products.
“This acquisition represents the first of what we hope will be a number of add-on acquisitions for Drake,” says Brad Barker, vice president at Huron Capital. “Scott and the team have built a solid platform in the enthusiast market, and we are actively looking to grow that through acquisitions of additional products and licenses.”
Huron Capital is a private equity firm that aims to grow lower middle-market companies. Founded in 1999, the firm has raised more than $1 billion in capital through four private equity funds and invested in over 120 companies. Huron Capital’s sector focus includes business services, consumer products and services, and specialty manufacturing.