Covercraft, which sells RV covers under its ADCO brand, has been sold to Audax Private Equity.
Covercraft is based in Pauls Valley, Oklahoma, and previously was owned by Century Park Capital Partners. The sale was completed earlier this week. Terms were not disclosed.
Company officials said the sale would not affect RV operations.
“Our customers and distributors can expect to see continued focus on the RV industry,” said Liz White, national sales manager for Covercraft’s ADCO brand. “The RV market is seeing incredible growth and we believe that the additional resources that Audax brings to the table will help to fortify our positioning as the go-to source for RV covers and related protection products.”
Morgan Ein, executive vice president of sales and marketing for Covercraft, said the team is excited about Covercraft’s next chapter.
“Our customers can count on our continued support and dedication to the RV industry,” Ein said.
Covercraft is a manufacturer of custom vehicle protection products. The company focuses on custom-fitted applications with a library that includes more than 300,000 distinct patterns.
“The Lichtmann family started Covercraft with a focus on creating the best vehicle protection products possible – and did so with a huge emphasis on integrity and quality,” Covercraft CEO Matt Jordan said. “By tapping into the skills and dedication of the people on the Covercraft team, and particularly the hard-working women and men that support Covercraft’s ADCO brand, we have added to the legacy of a company that stands for protecting the things that move our customers. We are terrifically excited to be part of the Audax family and look forward to benefiting from their established history within the vehicle aftermarket sector. We believe that this partnership will enable us to continue growing our customer base and product portfolio while retaining our core values of integrity, innovation, and quality.”
Said Audax Managing Director Jay Mitchell, “We look forward to partnering with and supporting the company’s highly experienced management team. We believe that they are well-positioned to execute on organic growth opportunities and complete strategic acquisitions.”
