Truck-Lite Co. LLC has announced that Genstar Capital has made a significant investment in Truck-Lite. Truck-Lite was owned by affiliates of BDT Capital Partners, Koch Equity Development and Penske Corporation. As part of its investment, Genstar acquired BDT and Koch’s ownership interests.
Brian Kupchella, Truck-Lite’s CEO, commented, “We are very excited to partner with Genstar. We believe its investment philosophy aligns extremely well with Truck-Lite’s long-term strategy and will allow us to accelerate our growth plans, continue to invest in new products and markets and improve our value proposition to our customers and partners.”
Rob Rutledge, managing director at Genstar, said, “Truck-Lite has a leading position in attractive market segments, with a history of innovation, product development and industry superior technology. For over 60 years, they have worked to build strong brand recognition and we see opportunity to support the continued expansion of the business through growth in new products, technologies and Truck-Lite’s Road Ready telematics systems and look to further expedite that growth by pursuing strategic acquisitions.”
Baird and Barclay acted as financial advisors and Jones Day acted as legal advisor to Truck-Lite. Weil acted as legal advisor to Genstar.