Hopkins Announces the Acquisition of Tiger Accessories Group
Blenheim, Ontario, January 5, 2018 – Hopkins Manufacturing Corporation announced today that it has acquired Tiger Accessories Group, a leading supplier of Vehicle Lighting and Cleaning products in North America. Tiger Accessories was a subsidiary of MAT Holdings, Inc. a diversified automotive and consumer products company.
The acquisition strengthens Hopkins’ leadership position in towing products, which adds trailer lighting products to complement its market leading vehicle towing electrical solutions business. Tiger has also established a leading position in auxiliary lighting, including LED Light Bars. The added vehicle and janitorial cleaning products bolster Hopkins’ market leading position in cleaning.
“We are pleased to add the Tiger Accessories products to our portfolio. The acquired products are complementary to our existing towing electrical and cleaning products,” said Bradley T. Kraft, President and Chief Executive Officer of Hopkins. “The addition of the Tiger lighting and cleaning products will drive significant benefits to our customers,” added Mr. Kraft.
“We are normally not a seller of businesses, but Hopkins is such a perfect fit for Tiger that it made sense,” said Steve Wang, Owner and Chief Executive Officer MAT Holdings. “Hopkins’ focus on innovation and value are hallmarks of our lighting and cleaning products, and we are confident that Hopkins can grow and develop these businesses in the future,” added Mr. Wang.
As part of the acquisition, Hopkins will add an operations and marketing office in Long Grove, Illinois that will continue to focus on the acquired products. MAT will continue to distribute the acquired products for the near future. Recent acquisitions by Hopkins include Acme Chamois®, the leader in automotive chamois, Air Power America®, the leader of oil extraction technology for automotive and marine engines, 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: Hopkins Towing Solutions® Trailer Wiring & Brake Control Products; Carrand™, AutoSpa™ and Tanner’s Select® Pacific Coast™ Vehicle Cleaning Products; Mallory® squeegees; Bell®, Victor™, Monkey Grip™ and Go Gear® Vehicle Accessories; Sub-Zero® and Mallory® Snow & Ice Tools; Flo-Tool® Fluid Management Products; 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. Hopkins has North American manufacturing and distribution in the US, (i.e., Kansas, Oklahoma, Iowa, California and Florida); in Canada in Blenheim, Ontario and in Mexico in Juarez, Chihuahua. ONCAP invested in Hopkins in June 2011. For more information on Hopkins, visit its website at www.HopkinsMfg.com.
About Tiger Accessories Group
Tiger Accessories Group was founded in 2002 through the merger of Blazer International, Clean-Rite Products and Tiger Ey. Blazer International has provided vehicle lighting solutions for more the five decades. Clean-Rite Products offers a complete range of vehicle cleaning tools as well as janitorial towels.
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered medium-sized businesses that are market leaders 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 more than $30 billion of assets under management, including $6.7 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com.
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