Truck Hero is the manufacturer, and marketer of branded functional truck and Jeep accessories
Abu Dhbai state investor Mubadala has invested in Michigan-based Truck Hero, as part of a consortium led by consumer focused private equity firm, L Catterton.
The consortium includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), as well as Mubadala Investment Company, StepStone Group Inc and CCMP, among other shareholders, and Truck Hero's founding CEO, Bill Reminder, will remain meaningful investors in the Company. Terms of the transaction were not disclosed, L Catterton said in a statement.
Founded in 2007, Truck Hero is the manufacturer, and marketer of branded functional truck and Jeep accessories that enhance the experience for consumers' daily activities and enthusiast lifestyles, the statement said. It has a leading online presence selling directly to consumers through RealTruck.com.
"This transaction further strengthens our portfolio in the consumer space, and in a company that we believe has strong growth potential and is led by an exceptional management team," Mubadala said in a tweet.
The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions.
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