PE-backed Truck Hero Set Terms for Potential $200M IPO
November 11, 2015
Truck Hero (THI), a company backed by TA Associates and Kinderhook Industries, has filed for an IPO with plans to list on the NYSE under the symbol TRUK. A designer, manufacturer and marketer of branded consumer accessories for pickup trucks, THI estimates its price per share will be between $17 and $19; a midpoint pricing would give the business an initial market cap of almost $710 million and raise $200 million for the company and selling shareholders. In July of last year, TA Associates (73.1% pre-IPO stake) acquired a majority interest in THI from Kinderhook (12.1%), which has backed the company since 2007. For the nine months ended September 30, THI reported $323 million in net sales, $12.2 million in net income and $66.2 million in adjusted EBITDA.