Straps are utilized across different industries for reinforcing, fastening as well as holding any type of item. Depending upon the tensile strength required as well as purpose, these straps are manufactured with the use of various material primarily, plastic. Further, the materials can be bounded by variety of methods such as hooking, pressing, injection molding, and sewing. Automotive straps are used in luggage compartment, seating systems as well as car interiors. According to Future Market Insights, the global automotive straps market is projected to witness decent CAGR during 2016-2026.
Truck Hero Announces Strategic Acquisition of Husky Liners
Truck Hero, Inc. recently made an announcement of strategic acquisition of Husky Liners, a prominent manufacturer of automotive aftermarket products such as cargo liners, custom fit floor as well as automotive straps.
CEO and president of Truck Hero, Bill Reminder commented that this transaction builds upon their recent efforts to expand their business with complementary branded products offerings throughout expanding automotive accessory market. Husky Liners has been the incredibly strong brand awareness across the globe due to finest and high-quality liners and floor mats compared to other competitors in the industry. Additionally, Husky Liners provide wide range of products for trailering and towing purpose such as automotive straps which adds compliment to Truck Hero’s line up of truck accessories.
After the establishment of Truck Hero in 2007, this is the tenth acquisition as well as it is well aligned with Company’s growth strategy of maintaining their track on acquiring businesses within vehicle accessories market which further diversify its product portfolio into high-growth and attractive segments. The founder of Husky Liners, Robert Tyler stated that from the beginning of the company in 1988, they have continuously focused on development of new products with greater quality and design, as a result have been a leading company in the market. In addition, Vice president of business development of Husky Liners, Dough Johnson commented that this partnership have opened number of doors to many new opportunities as well as provides the resources and support for better success.
Truck Hero to Enter in Agreement to Acquire Omix-ADA
Further, Truck Hero has been entered into an agreement of acquiring Omix-ADA Inc., which is prominent players in the manufacturing of off-road parts and floor liners as well as automotive straps. It is the world’s independent supplier and developer of Jeep as well as off-road parts. Omix-ADA has been at the hearts of the Jeep community, continuously innovating developed accessoried and parts, which allow millions of passionate Jeep owners to manufacture their own vehicle. With an expected popularity of Jeep, and increasing demand for replacement of parts, Omix-ADA and Truck Hero’s are likely to be benefitted in foreseeable period.
Omix-ADA has been the sole of the Jeep community as it provides various aftermarket parts to enhance beauty of their vehicles. The founder, Azadi stated that they are happy to be acquired by Truck Hero as they are passionate about developing new accessories as well as parts similar to Omix-ADA. Continuous investment in products as well as product lines, Omix-ADA is able to service Jeep owners with models similar to models in 1941.
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