Daily News: January 22, 2015

Regions Agents Lund’s Bushwacker Acquisition

Lund International Holding Company, a portfolio company of Highlander Partners, announced it acquired Bushwacker and its subsidiaries.

Regions Business Capital, as administrative agent, along with a syndicate of participating lenders, provided senior financing and AEA Mezzanine Fund III LP provided mezzanine debt in support of the transaction.
Deloitte Corporate Finance served as the exclusive financial advisor to Bushwacker in connection with this transaction.

Operations will continue to be conducted from the existing facilities and led by Bushwacker President and CEO Russ Morgan, who will join the Lund International team.

Morgan said, “We are excited to partner with Lund International and believe the Bushwacker brand will be a strong complement to Lund’s existing product lines.”

Mitch Fogle, president and CEO of Lund, said, “With the addition of Bushwacker, Lund will enhance its standing as the broadest product line manufacturer of aftermarket automotive accessories and continue to enhance its offerings in each category. We are excited to work with Russ and his team to continue to grow the business.”

Jeff L. Hull, chairman of Lund and managing partner of Highlander, added, “This acquisition, Lund’s fifth since Highlander acquired the company in 2011, is the largest addition to date and significantly strengthens Lund’s geographic presence and unmatched depth of product offering in the automotive aftermarket accessories market. We are excited to continue leveraging the strength of our brand and distribution capabilities to ensure Bushwacker’s products reach the broadest audience possible. Additionally, Bushwacker will also significantly add to our Jeep offering, which was recently enhanced with our acquisition of Rampage Products in December 2014.”

Dallas-based Highlander Partners is a private investment firm.

Portland, OR-based Bushwacker is a manufacturer and marketer of branded automotive aftermarket accessories including fender flares, bedrail and tailgate caps, bumper protection products, and trail armor components for Jeeps.