ANNOUNCEMENT
All States Ag Parts has been acquired by Kinderhook Industries
All States Ag Parts (“ASAP”), the largest and fastest growing supplier of new, used and remanufactured tractor and combine parts in North America, has been acquired by Kinderhook Industries, a private investment firm based in New York, New York. Headquartered in Downing, Wisconsin, ASAP has ten facilities in Iowa, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin which include eight salvage yards, two rebuild facilities, a 217,000 sq. ft. distribution center and an e-commerce / catalog call center.
ASAP was founded in 1998 by David Dyke and his two sons, Paul and John. John Dyke has been President and CEO of the company and he will continue in that leadership role as well as being a significant co-owner of the business going forward. The company has aggressively expanded its product offering to more than 850,000 parts, of which 50,000 are available for same-day shipment. It provides replacement parts for nearly all makes of equipment including John Deere, Case IH, New Holland, Ford, International, Allis Chalmers, Caterpillar, Gehl, Massey Ferguson, Kubota, Lexion, Minneapolis Moline, Oliver, Steiger, Versatile and White. During the same time, it has grown to become a national supplier and a platform for consolidation of an attractive industry segment.
“I’m very excited to be partnering with Kinderhook. Our vision is to continue to aggressively grow ASAP to become the largest provider of alternative parts to the agriculture industry. Kinderhook’s extensive experience and industry relationships will enable us to achieve this goal.”
— John Dyke, CEO, All States Ag Parts
“ASAP is a great opportunity for Kinderhook to partner with a highly talented management team to execute a buy and build strategy to consolidate and build a market leader in the agriculture parts industry,” said Michael Zoch, a Principal at Kinderhook.
Franklin Partners, Inc. was ASAP’s exclusive M&A advisor and Stinson Leonard Street LLP served as transaction counsel to ASAP. The terms were not disclosed.
About ASAP
All States Ag Parts (ASAP) is the largest supplier of used, new and remanufactured tractor and combine parts in North America. The company has more than 850,000 aftermarket parts – with over 50,000 parts available for same-day shipping – and carries parts for nearly all makes including John Deere, Case IH, New Holland, Ford, International, Allis Chalmers, Caterpillar, Gehl, Massey Ferguson, Kubota, Lexion, Minneapolis Moline, Oliver, Steiger, Versatile, and White. ASAP has ten facilities located throughout the Midwest, including eight salvage yards, two rebuild facilities and a 217,000 sq. ft. distribution center in Lake Mills, IA. The company’s catalog and e-commerce call center is based in De Soto, IA. All States Ag Parts is headquartered 65 miles east of Minneapolis in Downing, WI. For more information, visit www.tractorpartsasap.com.
About Kinderhook Industries
Kinderhook makes control investments in companies with transaction values of $25 million to $150 million in which the firm can achieve financial, operational and growth improvements. The firm makes investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations, and existing small capitalization companies lacking institutional support. Sectors of interest include healthcare services, environmental/business services, and automotive/light manufacturing. Kinderhook was founded in 2003 and is based in New York. For more information, visit www.kinderhook.com.
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