Bell Automotive Acquires Victor Products
SCOTTSDALE, Ariz., Oct. 31, 2005 -- Bell Automotive Products, Inc. ("Bell Automotive" or the "Company") today announced it has acquired Victor Products ("Victor"), a division of Barjan Products, L.L.C.
Following the close of the transaction, the Victor(R) and Monkey Grip(R) product lines, which include tire repair kits, gauges, sealants and other automotive related products, will be integrated into the Bell family of products.
"Victor and Monkey Grip are outstanding brands that are highly complementary to Bell Automotive's existing product line-up," said Tim Brasher, Chief Executive Officer of Bell Automotive. "We see significant opportunities to further elevate the brand while increasing sales and achieving greater efficiencies by integrating these lines into Bell."
Bell Automotive is a leading supplier of automotive convenience accessories, such as air fresheners, seat and steering wheel covers and other products which are sold at major nationwide retailers such as Wal*Mart, Target and major automotive supply chains. The company is wholly owned by management and JH Partners LLC, a San Francisco-based private equity firm.
"Victor is a terrific addition to Bell Automotive, which continues to deliver impressive results under the leadership of Terry Lee, Mary George and Tim Brasher," said Pat Collins of JH Partners. "We're always pleased to assist our partner companies grow both organically and opportunistically through value-creating acquisitions such as Bell's purchase of Victor."
In December of 2004 JH Partners teamed up with management to acquire Bell Automotive. The senior debt financing for the purchase of Victor was underwritten by Harris Trust and Savings Bank and Harris' mezzanine fund, Harris Nesbitt Capital, led the subordinated debt financing for the transaction. Harris Nesbitt Corp. advised Bell Automotive and JH Partners on the transaction.
About Victor Products
Victor Products, based in Des Plaines, Illinois, is a marketer and packager of automotive accessories, parts and supplies for mass merchants and specialty automotive retailers. The company's products are marketed under the Victor(R) and Monkey Grip(R) brands and include tire repair kits, gauges, plugs, patches and hardware as well as sealants and other automotive related products.
About Bell Automotive
Bell Automotive Products, Inc., based in Scottsdale, Arizona, is a leading supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products. A dedicated focus on automotive accessories has yielded an unparalleled reputation for quality, innovation and customer service. The company's broad line of convenience accessories is marketed under the well-recognized Bell and Cobbs brand names at leading retailers such as Wal*Mart, Target, K-Mart, Fred Meyer, Autozone, Pep Boys, CSK and Canadian Tire. Bell Automotive is one of several in the Bell family of consumer products companies.
About JH Partners LLC
JH Partners is a San Francisco-based private equity firm focused on investments in growth-oriented middle market consumer products and services companies. The firm distinguishes itself among private equity firms in that each of its principals has senior-level operating experience building middle-market consumer related businesses. JH Partners has been instrumental in aiding the growth of powerful consumer brands, including Peet's Coffee & Tea, Bare Escentuals, Performance Bicycle Shop, Bell Helmets, and Design Within Reach, among others. Additional information may be found at www.jhpartners.com.