How Private Equity Has Helped Michigan-Based Truck Hero Grow and Employ Thousands of Workers
Washington, D.C. – Today, the American Investment Council (AIC) released the third video in a new series of interviews conducted by Hill TV examining how private equity investments are supporting businesses and workers across America. Today’s video features Bill Reminder, CEO of Michigan-based automotive accessory manufacturer Truck Hero. Reminder spoke about how Truck Hero’s partnerships with TA Associates and other private equity firms have been instrumental in helping the business succeed:
“Partnering with private equity allowed us to have access to capital and expertise to invest and grow the business,” said Truck Hero CEO Bill Reminder. “TA Associates helped us refine our strategy and also build scale and efficiency into the business. And you ask what is different today? In 2007, we were $35 million a year in revenue and today we are $1.3 billion in revenue with over 4300 employees.”
Reminder also discussed how private equity worked directly with Truck Hero to recruit a new board of directors and conduct a successful rebrand and marketing campaign:
“When it came to the marketing campaign, TA encouraged us to take the risk of the investment, something we hadn’t traditionally done before,” Reminder continued. “They also helped me build a great Board of Directors with the talent that they could leverage and help run my teams.”
Reminder’s interview with The Hill is the third in a new series of videos featuring the leaders of private equity-backed businesses who will discuss how private equity has played a crucial role supporting their companies grow and hire new workers.
Click here to watch the first interview in this series with Minnesota-based Victory Innovations CEO Chris Gurreri, and click here to watch the most recent interview with Ingersoll Rand CEO Vicente Reynal.
