PAC Holding Company

FOR IMMEDIATE RELEASE
November 19, 1999
 

 

PACE EDWARDS COMPANY ACQUIRES LTD ACCESSORIES
Company led by Russ Stubbings Expands Product Offering Through Auto & Truck Accessory Acquisition

Centralia, WA: November 19, 1999: Pace Edwards Company, a wholly-owned subsidiary of PAC Holding Company, today announced that it acquired LTD Accessories of Phoenix, AZ. Formed in late 1998 by Russell E. Stubbings and Prospect Partners, PAC first acquired Pace Edwards Company, the country’s leading manufacturer of retractable tonneau covers, in January 1999. The acquisition of LTD Accessories, with its products Shelf-It and Rifle-It, provides additional product for Pace Edwards to sell to its existing customer base. The Shelf-It and Rifle-It product can be attached to the existing visor holes in mini-vans, sport utility vehicles, and pick-up trucks for additional overhead storage.

“We are excited about the opportunity to expand our line with the addition of such a quality product,” said Russell E. Stubbings, CEO of PAC Holding Company.

The marketing and product management for the LTD Accessories brands will be relocated to the Pace Edwards facility in Centralia, WA. In addition to Pace Edwards, PAC Holding owns Wings West, Inc. of Newport Beach, CA. Wings West is a leading manufacturer of body styling kits for import sport performance cars.

Russell E. Stubbings, Chairman and CEO of PAC Holding, formerly served as CEO of Deflecta-Shield Corporation and prior to that as COO of Lund International, both NASDAQ-listed manufacturers and marketers of aftermarket truck accessories.

Prospect Partners, LLC manages a $105 million private equity fund focused on financing management-led leveraged acquisitions and providing growth capital for lower middle market businesses with niche strategies. “LTD Accessories provides our companies with the ability to broaden their relationships with existing customers,” said Erik Maurer of Prospect Partners.

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