Covercraft Industries, a portfolio company of El Segundo-based private equity firm Century Park Capital Partners, acquired Carver Industries for an undisclosed amount, the companies recently announced.
Pauls Valley, Okla.-based Covercraft manufactures protective covers for the automotive and outdoor furniture sectors and the acquisition of Carver diversifies its customer base. The company will now make protective covers for the marine industry.
“Carver expands our authority as the protection leader into the marine industry and firmly places Covercraft in a category of one in aftermarket protection products for vehicles of all types,” Mark Korros chief executive of Covercraft said in a statement.
Carver Industries, based in Landrum, S.C., is the fourth company to become a subsidiary of Covercraft since the company partnered with Century Park Capital Partners in 2015, the announcement said. Previous acquisitions include ADCO, GT Covers and Marathon Seat Covers.
Manufacturing, retail and trade reporter Shwanika Narayan can be reached at email@example.com or 323-556-8351. Follow her on Twitter @shwanika.