Century Park Capital Partners announced that it has sold Covercraft Industries to Audax Private Equity.
Under Century Park, Covercraft acquired seat cover brands GT Covers and Marathon Seat Covers. The company also acquired ADCO and Carver Industries.
“We’re terrifically excited to be part of the Audax family moving forward,” said Matt Jordan, CEO of Covercraft. Audax is not only one of the leading private equity funds in the United States, but one with a great track record of helping companies increase in scale while retaining the values they were founded on. The Lichtmann family started Covercraft with a focus on creating the best vehicle protection products possible – and did so with a huge emphasis on integrity and quality. We’re committed to retaining those core values”
Covercraft was founded in 1965 by Bob Lichtmann and is a manufacturer of custom vehicle protection products including automotive covers, seat covers, front end masks, dashboard covers, window sunscreens, RV covers, boat covers, bimini tops, and more.
The company focuses on custom-fitted covers and has over 300,000 patterns for automotive, marine, and outdoor protection products.
“Covercraft introduced the first custom fit car cover more than 55 years ago. Our company history is rich with innovation, development and exceeding customer expectations”, said Morgan Ein, EVP of Sales and Marketing for Covercraft. “Audax will bring the experience and resources that we believe will help us scale our business while allowing us to retain sight of our core strengths of product fitment, quality and customer relations.”