Mount Airy, NC – Leonard Group, Inc. (“Leonard”), the leading full-service retailer of truck accessories, trailers, and sheds in the Southeast, announced today the acquisition of Cook Portable Warehouses (“Cook” or the “Company”). Headquartered in Cobden, IL, Cook is a leading manufacturer and retailer of premium storage sheds across a 14-state footprint. Cook is Leonard’s fourth add-on acquisition since partnering with Kinderhook Industries, LLC (“Kinderhook”) last year. Financial terms of the transaction were not disclosed.
Founded in 1984, Cook delivers a broad assortment of quality portable storage solutions through its 65 company-operated retail locations and a broad network of independent dealers, supported by 5 strategically located manufacturing facilities. Cook has established itself as the leader in its markets by providing unmatched value, exceptional product quality, and superior customer service. The acquisition of Cook will accelerate Leonard’s expansion plans by providing sizable retail and manufacturing presence in new geographies stretching across the Midwest, Texas, and Gulf Coast.
“We are more than excited to welcome the entire Cook team to Leonard. The Cook manufacturing expertise and long-tenured team, coupled with the additional Cook retail locations, will be a catalyst for our unit growth and expansion strategy,” said Mike Pack, CEO of Leonard.
“The combination of Cook and Leonard is an exceptional match given both companies’ commitment to quality and exceptional customer service. We look forward to working together to better serve our customers,” said Greg Cook, Founder, and President of Cook.
“We are thrilled with the addition of Cook, and we look forward to leveraging the capabilities of the combined businesses to accelerate growth. With this transaction, Leonard has nearly doubled its number of corporate retail locations and attained critical manufacturing capabilities,” said Tom Tuttle, Managing Director of Kinderhook.
“Consistent with our original investment thesis, the acquisition of Cook brings Leonard closer to becoming a national retailer. Following this acquisition, Leonard has a retail presence in 18 states, and with more than 135 corporate-managed retail locations we will be the leading specialty retailer of storage sheds, trailers, and truck accessories in North America,” said Paul Cifelli, Managing Director of Kinderhook.
Monroe Moxness Berg PA served as legal counsel to Leonard. Financing for the transaction was provided by Twin Brook Capital Partners, LLC.
For additional information about this transaction, please contact:
Thomas Tuttle
Managing Director
(212) 201-6781
ttuttle@kinderhook.com
Paul Cifelli
Managing Director
(212) 201-6797
pcifelli@kinderhook.com
About Leonard
Founded in 1963 and headquartered in Mount Airy, North Carolina, Leonard is a leading full-service specialty retailer of truck accessories, trailers, and sheds in the Southeast. Leonard’s complementary product categories help to serve the needs of customers both for work and recreation. Leonard remains dedicated to service and is proud to offer truck accessories, trailers, and sheds that ensure fit, function, and style so that Leonard customers are ready for work and ready to stand out in a crowd.
For more information, please visit: www.leonardusa.com
About Cook Portable Warehouses
Founded in 1984 and headquartered in Cobden, Illinois, Cook is a manufacturer of prefabricated wood buildings including sheds, barns, and garages of various styles and sizing options with a retail presence spanning 14 states. The Cook mission is to build the highest quality portable buildings available and to create value and make a difference in the communities we work and live in.
For more information, please visit: www.cookstuff.com
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $5.2 billion of committed capital. We have made in excess of 300 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle-market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.
For more information, please visit: www.kinderhook.com
