Ropes & Gray Represents CCMP Capital in the Sale of Truck Hero to a Consortium Led by L Catterton

In The News
December 8, 2020

Ropes & Gray represented CCMP Capital Advisors LP and its portfolio company Truck Hero Inc., the leading provider of functional aftermarket accessories for pickup trucks and Jeep® vehicles, in the sale of Truck Hero to a consortium led by L Catterton. Terms of the transaction, which was announced on Dec. 8, were not disclosed. The press release is here

The L Catterton-led consortium, which will acquire a controlling interest in Truck Hero, includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority as well as Mubadala Investment Company and StepStone Group Inc. CCMP, among other shareholders, and Truck Hero's founding Chief Executive Officer, Bill Reminder, will remain meaningful investors in Truck Hero. 

CCMP Capital specializes in middle market buyouts and growth equity investments of $100 million to $500 million in North America and Europe. L Catterton is a consumer-focused private equity firm with over $22 billion of equity capital across its fund strategies and 17 global offices. 

The Ropes & Gray team that represented CCMP and Truck Hero was led by private equity partners Garrett Charon, David Blittner and Andrew Silver, and included finance partners Jay Kim and Andrea Hwang, tax partner Adam Greenwood, employment, executive compensation & benefits partner Allie Alperovich (all of New York), and strategic transactions partner Craig Marcus (Boston).