Hopkins Partners with Canadian Equity Firm
Recreational vehicle aftermarket supplier Hopkins Manufacturing Corp. announced today a partnership with ONCAP, a private equity firm based in Toronto, Canada.
According to a press release, Hopkins management and ONCAP made an investment in the company by purchasing shares from an affiliate of Friend Skoler & Co. Inc., a private equity investor located in Saddle Brook, N.J., that has been an investor in Hopkins since 2004.
The investment by ONCAP was completed in connection with Hopkins’ recapitalization and new bank financing.
“This is a very positive development for Hopkins. We’re excited about the growth potential that will result from partnering with ONCAP,” said Bradley T. Kraft, president and CEO of Emporia, Kan.-based Hopkins. “We view the automotive and RV markets as very attractive and this partnership positions us as a major player in the industry.”
“We look forward to partnering with Hopkins’ management team to build upon the company’s success,” said Michael Lay, Managing Partner of ONCAP. “Hopkins has a history of new product innovation, high customer service levels and successful integration of complementary acquisitions. We’re confident that this strong track record will continue under the leadership of the Hopkins management team.”
Founded in 1953, Hopkins is a leading designer, manufacturer, distributor and marketer of innovative towing products and functional accessories for the automotive and recreational vehicle aftermarket. Headquartered in Emporia, Hopkins also maintains locations in Carson, Calif., Juarez, Mexico and Ningbo, China.