All States Ag Parts Acquires Dominion Equipment

Hudson, WI – All States Ag Parts, LLC (“All States Ag Parts” or “ASAP”), the leading North American supplier of replacement agricultural and construction parts, announced the acquisition of Dominion Equipment Parts, LLC (collectively, “Dominion Equipment” or the “Company”). Founded in 1998 and based in Richmond, VA, Dominion Equipment is a distributor of rubber tracks, dumping equipment and other parts for heavy construction equipment sold to dealers and end users throughout the U.S. and Canada. Dominion Equipment operates warehouse locations in Dallas, TX; Cincinnati, OH; Jacksonville, FL; Portland, OR; and Albany, NY, in addition to its Richmond headquarters. Dominion Equipment is ASAP’s thirteenth add-on acquisition since partnering with Kinderhook. The acquisition is a logical extension for ASAP’s existing heavy duty equipment business and further solidifies its position as a leading replacement parts business diversified across agriculture and industrial markets. Dominion Equipment was previously a subsidiary of The Richmond Group, a Virginia-based holding company for industrial transportation and rental businesses. “The acquisition of Dominion Equipment extends ASAP’s position as the market leader in aftermarket rubber tracks for construction equipment and adds to our base of dealer partners. Dominion will be integrated into our existing construction parts division and will improve our ability to serve ASAP’s customers by adding new part SKU’s and additional sourcing relationships,” said Bill Davidson, President of ASAP. Paul Cifelli, Managing Director at Kinderhook, stated, “The Dominion Equipment transactions further demonstrates ASAP’s ability to effectively increase scale and diversify its product lines through acquisitions. We feel that Dominion Equipment’s deep industry knowledge and history of excellent customer service will fit in seamlessly with ASAP’s network of businesses.” Fredrikson & Byron, P.A. served as legal counsel to ASAP. Financing for the transaction was provided by a lending syndicate led by Maranon Capital LP, Capital One, Madison Capital, and Ares Management. About Kinderhook Industries Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5 billion of committed capital. We have made in excess of 300 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders. For more information, please visit https://www.kinderhook.com About All States Ag Parts All States Ag Parts is the leading supplier of used, rebuilt and aftermarket parts for all makes and models of tractors, combines, other farm machinery, and construction equipment. The company is a leader in each of its segments and provides customers with a single source for repair parts, offering competitive pricing, unmatched availability, and industry-best warranties. ASAP is headquartered in Hudson, Wisconsin, and its footprint covers eighteen U.S. states in the heartland of U.S. farming, as well as five Canadian provinces. For more information, please visit http://www.tractorpartsasap.com About Dominion Equipment Founded in 1998 and based in Richmond, VA, Dominion Equipment is a distributor of rubber tracks, dumping equipment and other parts for heavy construction equipment sold to dealers and end users throughout the U.S. and Canada. Dominion operates warehouse locations in Dallas, TX; Cincinnati, OH; Jacksonville, FL; Portland, OR; and Albany, NY, in addition to its Richmond headquarters. For more information, please visit https://www.depparts.com/