Sale of the Automotive Products Division  of Shur Company

TRANSACTION DESCRIPTION 
Goldsmith Agio Helms / Lazard Middle Market represented Shur Company in the sale of its automotive products division (the “TruXedo Division”) to an affiliate of Kinderhook Industries, LLC. 

TRANSACTION HIGHLIGHTS
The TruXedo Division (www.truxedo.com) is a maker and marketer of soft, roll-up style tonneau covers and related aftermarket accessories used by owners of pickup trucks.  Its products are compatible with every make and model of pickup truck sold in North America.

Shur Company introduced the TruXedo® brand in 2000 and formalized the TruXedo Division in 2003.  Through a series of innovative product introductions and creative marketing initiatives, the division achieved 23% sales growth during the four-year period leading up to the sale.  In 2007, the TruXedo Division surpassed its nearest rival to become North America’s largest provider of soft tonneau covers.

THE SELLER
Headquartered in Yankton, South Dakota, Shur Company (www.shurco.com) is a leading manufacturer of tarp systems used to protect the contents of straight trucks, semi-trailers and flatbeds in applications that include agricultural, construction, industrial and general transportation.  The family shareholders of Shur Company are repeat clients of Goldsmith/Lazard, having previously retained the firm to arrange the sale of PrimeWood, Inc. to Woodcraft Industries.

THE BUYER
Founded in 2003, Kinderhook Industries, LLC (www.kinderhookindustries.com) is a private equity firm that manages $470 million of committed capital.  The firm targets non-core divisions and subsidiaries, small-cap public companies and management-led recapitalizations of entrepreneur-owned companies.  Kinderhook makes control investments in companies with transaction values up to $75 million where the firm believes it can achieve significant growth.

ABOUT LAZARD MIDDLE MARKET
Goldsmith Agio Helms / Lazard Middle Market, a division of Lazard (NYSE:LAZ), provides advice on mergers and acquisitions, restructuring and financings to the middle market.  Formed in 2007 with the acquisition of Goldsmith Agio Helms, Lazard Middle Market has approximately 90 professionals in Minneapolis, New York, Chicago, Los Angeles, and Shanghai. For more information on Goldsmith Agio Helms / Lazard Middle Market, please visit www.lazardmiddlemarket.com.

If you would like more information about this transaction, contact Gary O'Brien (gobrien@agio.com) at 612-339-0500.

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