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By Maureen Flanagan
Founded in 1953 and headquartered in Emporia, KS, Hopkins Manufacturing Corp. is a leading manufacturer and marketer of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarket. The Company's products are well-recognized by consumers and retailers for their quality, ease-of-use and functional utility. As a result, the Company has captured the number one or two market positions in all of its product categories. Led by Brad Kraft, President, since 2000, Hopkins has a professional, experienced management team with an outstanding track record of operational success.
In a July 26, 2004 transaction, Hopkins was acquired by Friend Skoler Equity Investors, LP, an affiliate of Friend Skoler & Co., L.L.C., a New Jersey based private equity firm. In support of the transaction, American Capital Strategies, Ltd. (Nasdaq: ACAS) invested $35 million of subordinated debt and preferred equity. Antares Capital Corporation led the senior financing. Hopkins joins American Capital's portfolio of over 100 companies in a wide range of industries. Since 1997, American Capital has invested more than $3 billion in the middle market.
For more information about American Capital's portfolio click here. Hopkins manufactures and markets over 1,300 towing products that coordinate the lighting and braking systems between a vehicle and trailer or between a motor home and towed vehicle. Sold under the Hoppy®, LiteMate®, TAP™ and BrakeBuddy® brand names, they are used commercially for landscape, relocation and general construction trailers and for leisure vehicles including RV, boat, jet-ski and snowmobile trailers. Towing products include adapters, connectors, electronic brake controllers, converters, break-away kits and RV leveling aids.
Through its acquisition of Master Concepts, Inc. in December 2003, Hopkins acquired the BrakeBuddy® product line, the leading supplemental tow brake system for motor homes that tow vehicles. BrakeBuddy® increases towing safety by avoiding overheating of a motor home's brakes and by decreasing the required stopping distance. As the first non-invasive supplemental RV braking system on the market, BrakeBuddy® has strong brand recognition and has become the #1 product in its market.
Hopkins also offers an extensive line of automotive winter care products sold under the Hoppy® brand. These products include ice scrapers, snow brooms, snow brushes and snow shovels. Hopkins' fluid handling products are sold under the FloTool™ and SpillSaver® brands and include spouts, funnels and oil change kits. The Company also markets storage and organization products such as cup holders, console products and trash organizers.
Continually adding to its product offerings with innovative products, Hopkins has introduced over 100 new products since 2000, most of which have gained rapid acceptance. In 2003, nearly one-third of sales were from products introduced during the previous three years.
"Hopkins operates in the large, growing automotive and recreational vehicle aftermarket. We anticipate continued growth through new product introductions, expansion within our sales channels and strategic, add-on acquisitions," said Brad Kraft, President of Hopkins. "Our wide selection of functional, easy-to-use products and our reputation for quality products and high service levels positions us well for continued growth."
With strong management, growing markets and innovative products, Hopkins is wired to move an abundance of opportunities in tow.
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