Waltham, MA – February 1, 2022
For Immediate Release
KODA Enterprises Group announced today the acquisition of Load Rite Trailers, LLC, through its existing wholly owned holding company Water-Land, LLC, owner of Continental Trailers (Water-Land Manufacturing & Supply). The acquisition of Load Rite is highly strategic, expanding Water-Land’s marine trailer manufacturing and distribution capabilities across a complete line of boat trailers. Load Rite’s locations in Fairless Hills, PA, and Washington, NC, combined with Continental’s multiple sites in Florida provides coverage of the entire U.S. eastern seaboard from Maine to Florida, as well as coverage into eastern Canada. Combined, the companies represent the largest non-OEM marine trailer manufacturer in the country
The existing shareholders of Load Rite will retain a meaningful minority interest in the combined entity. Current management of Load Rite will remain in place to grow the business with Mr. Tom Morrison, existing President and CEO, continuing in his role with Load Rite.
In a joint statement Mr. Morrison and Mr. Kelly Hays, President and CEO of Water-Land, said, “We are excited about the combination of these two companies and the great benefits it will provide to our customers. With the added scale the combination brings we can continue to focus on being the premier supplier of quality boat trailers and supplies to the growing enthusiast marine products market.”
Load Rite has outstanding capabilities in its production, sales, and distribution processes, and has significantly outperformed the market since the beginning of the COVID-19 pandemic. Mr. William Karol, President and CEO of KODA Enterprises Group, said, “Since we acquired Continental our goal has been to find additional strong companies in this market space. In Load Rite we found a company with very similar capabilities, mission and culture with an excellent management team to take the company to the next level.”
KODA Enterprises Group, located in Waltham, MA, is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its portfolio companies.
Financing for the transaction is being provided by Needham Bank, Boston MA, and Assurance Mezzanine, Orlando FL. The seller was represented by independent investment banking firm Brown Gibbons Lang & Company, headquartered in Cleveland, OH.
For further information contact:
James H. Peden, Chief Operating Officer
KODA Enterprises Group, 423-756-8891 email@example.com
John Karol, Director of Corporate Development
KODA Enterprises Group, 781-392-9216 firstname.lastname@example.org