Victoria-based 4×4 accessories maker ARB Corporation has announced the acquisition Auto Styling Truckman Group Limited (Truckman), a UK-based utility accessories manufacturer principally focused on rear of vehicle products such as canopies (hard tops) and bed liners.
Founded in 2002, Truckman currently employs around 80 staff who operate from the company’s 4,860 m2 head office and central distribution hub in Birmingham.
The transaction, valued at up to A$40 million, will see ARB retain all existing staff and management, with the Truckman business to continue to operate as before with the added support of ARB’s expertise and resources.
ARB said the acquisition meets its aim of expanding international distribution an evolving product strategy.
“The acquisition adds scale to ARB’s global business and provides a base for the Group in Europe’s largest utility vehicle market,” the company told the ASX.
“The Board welcomes the employees and management of Truckman to the ARB Group and looks forward to working with them to grow the business.”