Lund International, a Portfolio Company of Highlander Partners, Acquires Prestige Fender Flares
BUFORD, GA – March 11, 2013 – Lund International Holding Company, a portfolio company of Highlander Partners, L.P., today announced the acquisition of the Prestige Fender Flare assets of Empower Group, Inc. Prestige Fender Flares is a leading designer and producer of premium quality fender flares sold throughout the United States.
Co-founders Anthony Liu and Robert Chen, who have successfully built Prestige into a leading provider of fender flares in the automotive aftermarket, will join Lund in a management capacity focusing on new product development. In six short years, they have developed a thorough and complete offering of fender flares for light trucks and SUVs. Mr. Liu and Mr. Chen commented, “We are excited to complete this transaction with Lund and look forward to leveraging its extensive, multi-channel distribution capabilities to continue to grow in the fender flare market and other new product categories.”
Mitch Fogle, President of Lund, said, “The addition of Prestige’s fender flares to the Lund family of products solidifies our leadership in the automotive aftermarket accessories industry. We look forward to working with Anthony and Robert to maximize the potential of the excellent product offering they have developed and exploit their combined new product ideas.”
Prestige is the first add-on acquisition completed by Lund under Highlander’s ownership. Jeff L. Hull, Chairman of Lund International and Managing Partner of Highlander, said, “This acquisition is validation of Lund’s desire to be a leader across all product categories in the exterior aftermarket automotive accessories market. It also serves as confirmation of our ongoing interest in utilizing an acquisition-based strategy as appropriate to complement our organic growth efforts. We continue to evaluate numerous other potential acquisitions and are always on the lookout for new opportunities.”
About Lund International
Lund International Holding Company is a leading designer, manufacturer, and marketer of branded automotive aftermarket accessories for a full assortment of passenger cars and light trucks, as well as the heavy truck category. Its products include ventvisors, hood shields, heavy-duty floor mats, tonneau covers, storage boxes, and running boards, among others. Lund offers the industry’s broadest range of functional body and appearance products that provide customers with ways to customize and personalize their vehicles.
For more information about Lund, please visit www.lundinternational.com.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with partners that have committed over $500 million of principal funds for direct private equity investments in North America and Central Europe. The firm focuses on making investments in middle market businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, building materials and others. Highlander Partners uses a “buy and build” investment approach, creating value by helping companies grow organically and through acquisitions.