Hopkins Announces the Acquisition of AirPower America
Blenheim, Ontario, March 27, 2-17 – Hopkins Manufacturing Corporation announces it has acquired certain assets of Kristus, Inc. d/b/a AirPower America. AirPower is a leading supplier of oil/ fluid extractors and air pumps marketed under the TopSider, LiquiVac and MaxAir brands.
The AirPower product offering includes the MaxAir air pump and the TopSider and LiquiVac (for Large and Small Engines) oil change/extractor systems.
“We are pleased to add the AirPower product line, the leader in oil fluid extractors, to Hopkins’ FloTool branded fluid management product offering. AirPower’s unique designs will be a great addition for Hopkins, capitalizing on a growing trend where extractors are required to remove oil from newer vehicles” said Bradley T. Kraft, President and Chief Executive Officer of Hopkins.
“We are excited with the reach of Hopkins and their ability to further the growth of the AirPower product line” said Barry Kearns, President of Kristus. “Hopkins has an outstanding reputation in the industry and the fit with the FloTool line of products is perfect!”
Hopkins will transfer the production and distribution of the AirPower line to its Miami, Oklahoma manufacturing facility where it produces other “Made in the USA” FloTool fluid management products such as Rhino Drive-Up Ramps, Super Duty Oil Drains and various funnels and other products. Hopkins has North American manufacturing and distribution in the US, (i.e., Kansas, Oklahoma, Iowa, California); in Canada in Blenheim, Ontario and in Mexico in Juarez, Chihuahua.
Recent acquisitions by Hopkins include Bell Automotive Products, interior and vehicle accessories; Mallory®, the market leader in Canada for snow tools and in North America for gas station squeegees; the fluid management drain pans and ramps of F3 Brands; Mr. Funnel®, a simple but effective line of portable fuel filters that remove water, dirt and debris from all types of fuels; and TowDaddy® line of towed vehicle wire harness kits.
Headquartered in Emporia, Kansas, Hopkins is a leading manufacturer, marketer and distributor of quality, innovative specialized towing products and functional accessories for the automotive and recreational vehicle aftermarkets. Hopkins markets its products under a number of well-recognized brand names, including: Flo-Tool® Fluid Management Products; Hopkins Towing Solutions® Trailer Wiring & Brake Control Products; Bell®, Victor™, Monkey Grip™ and Go Gear® Vehicle Accessories; Sub-Zero® and Mallory® Snow & Ice Tools; Carrand™, AutoSpa™ and Pacific Coast™ Vehicle Cleaning Products; Mallory® squeegees; BrakeBuddy® RV tow brakes; nVISION® Vehicle Safety Products; Arm & Hammer™ and DUO™ Automotive Air Fresheners; and Juice™ Booster Cables. Founded in 1953, the company has been guided by the philosophy that its products will deliver meaningful innovation, performance and value to the consumer. ONCAP invested in Hopkins in June 2011. For more information on Hopkins, visit its website at www.HopkinsMfg.com.
About AirPower America
Kristus, Inc. was founded in 2000 by Barry Kearns with a focus on growing the line of air pumps and oil extraction systems. For more information on AirPower, visit its website at www.airpoweramerica.com or www.liquivac.com.
ONCAP is the mid-market private equity platform of Onex. ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. For more information on ONCAP, visit its website at www.Oncap.com.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has approximately $24 billion of assets under management, including $6 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex invests alongside its fund investors and is the largest limited partner in each of its private equity funds. For more information on Onex, visit its website at www.onex.com.
For More Information:
Bradley T. Kraft
President & CEO
Chief Marketing Officer