PAC Holding Company

FOR IMMEDIATE RELEASE
February 12, 2002
 

 

PAC HOLDING COMPANY ACQUIRES TRENZ™
Acquisition Expands PAC’s Aftermarket Auto & Truck Accessories Business, Paving Way for Future Growth

Over the past three years, PAC Holding Company (“PAC”) has built a strong base of aftermarket truck and automotive accessories manufacturers, with products including retractable tonneau covers, body styling kits, grill guards and tube steps. Formed in 1998 by Russell E. Stubbings and Chicago-based private equity firm Prospect Partners, LLC, PAC has successfully grown through select mergers with and acquisitions of leading auto and truck aftermarket accessory manufacturers, including: Pace-Edwards Company, Wings West, Inc., Adleco d/b/a Bedlocker, LTD Accessories and Go Rhino! Products.

Trenz™ , of Bakersfield, CA, is a manufacturer and supplier of high-quality aluminum automotive aftermarket parts and accessories for light trucks, sport utility vehicles, automobiles and motorcycles. The company is known for its innovative, high-end custom aluminum products, including billet aluminum grills, dash kits, door and step plate inserts, steering wheels, custom motorcycle wheels, and other interior/exterior accessories. Formed in 1993 by Doug DeBerti, the company has assumed a leadership role in the manufacture and design of innovative aluminum automotive products. Through its employment of new technology and manufacturing methods and a steadfast commitment to exceptional quality and customer service, Trenz has built a reputation for its products that far exceeds its size. Doug DeBerti will continue to lead Trenz as President during this exciting time.

“Trenz is a great fit for our company, and provides excellent synergy with our portfolio of manufacturers,” explains Russ Stubbings, Chairman and CEO of PAC. “Trenz represents another major step forward for PAC in our strategy to grow the automotive accessories business with unique and innovative products. Doug DeBerti and his team are great assets to our company in terms of their expertise and success in the business, and we are looking forward to working together in building the Trenz division of PAC.”

“We are very excited about the opportunity to bring Trenz into our auto and truck aftermarket accessories business,” explains Erik E. Maurer, a Principal of Prospect Partners, LLC and a Director of PAC. “The acquisition provides access to an excellent array of products that can be offered to PAC’s existing customer base. The various companies and the team we’ve brought together at PAC reflect our approach—we are committed to establishing a strong industry presence by building solid, growth-oriented companies.”

“This is a great opportunity for Trenz to take advantage of existing and immediate growth opportunities,” supports Doug DeBerti. “PAC brings the capital, marketing channels, additional product lines and reputation we need to support our expansion and subsequent value creation for our company and our customers.”

Together, Prospect Partners and PAC will be seeking to acquire other well established, privately owned manufacturers of automotive and truck aftermarket accessory companies to bring under the PAC umbrella.

Prospect Partners, LLC of Chicago, Illinois is a $105 million private equity fund focused on management-led leveraged acquisitions of lower middle market companies with niche strategies.

For more information on PAC Holding Company, visit www.pace-edwards.com, www.wingswest.com, and www.gorhino.com. For more information on Trenz, visit www.trenz.com.

Back to Press Releases

 
MORE PRESS RELEASES
July 14, 2000
PAC Holding Company Merges with Go Rhino! Products
November 19, 1999
Pace Edwards Company Acquires LTD Accessories
August 2, 1999
PAC Holding Company merges with Wings West
January 11, 1999
PAC Holding Company to merge with Pace Edwards Company
October 7, 1998
Russ Stubbings Joins P.A.C. Holdings as Chairman and CEO