Further Expanding Truck Hero’s Truck Accessory Product Offering
ANN ARBOR, MICHIGAN – April 30, 2019 – Truck Hero, Inc. (“Truck Hero” or the “Company”) today announced the strategic acquisition of Backrack, LLC (“Backrack”), the leading North American manufacturer of heavy duty, truck racks for pickup trucks. The transaction terms were not disclosed.
“We are excited to welcome the Backrack team to the expanding Truck Hero family of brands,” said Bill Reminder, President and CEO of Truck Hero. Backrack is the most recognized and trusted brand for pickup truck cab protection racks and adding the Backrack brand to the Truck Hero portfolio broadens our ability to meet the needs of today’s demanding pickup truck owner. Since their beginning, Backrack has been dedicated to designing and manufacturing the highest quality and most durable line of truck bed racks that provide superior protection and increased truck bed functionality. Our product lines are highly complementary and we look forward to further building the Backrack brand by leveraging our sales and marketing experience and installer relationships. Mike Cunningham has led Backrack for over 11 years and will continue to serve as General Manager.
This transaction marks Truck Hero’s fourteenth acquisition since its formation in 2007 and is well aligned with the Company’s growth strategy of acquiring businesses within the vehicle accessory market that further diversify its product portfolio into other attractive, complementary, high‐growth segments.