(New York, NY and Wadsworth, OH) – Cortec Group (“Cortec”), a New York-based private equity firm that focuses on investing in and growing middle market specialty consumer, business-to-business, distribution, and healthcare products and services businesses announced that Enthusiast Auto Holdings, LLC (“EAH”), which Cortec Group Fund VII, L.P. acquired in December 2019 in partnership with its management team, has acquired RCI Off Road (“RCI” or the “Company”). EAH is a direct-to-enthusiast, digitally native platform that invests in and helps operate some of the most innovative e-commerce retailers in the performance automotive aftermarket industry. Terms of the transaction were not disclosed.
Founded in 2012 by Josh and Miranda Rudkin and headquartered in Loveland, CO, RCI is a manufacturer and e-commerce retailer of off-road aftermarket accessories for pickup trucks and SUVs. Under the Rudkins’ leadership, RCI has built a following within this enthusiast community for its differentiated, high-quality products, with an outstanding track record of growth. “EAH is an ideal partner for RCI as they recognized our strengths, but also bring complementary functional expertise in areas such as digital marketing, technology, and distribution that will help us scale and accelerate our growth,” said Mr. Rudkin.
Imran Jooma, CEO of EAH, stated “RCI’s excellent reputation reflects its authentic brand and innovative product portfolio overseen by a talented and passionate employee base. We are excited to work with the RCI management team to support the Company’s strong growth trajectory.” RCI is EAH’s seventh acquisition of specialty e-commerce automotive aftermarket businesses targeting specific enthusiast communities.
Jonathan Stein, a Cortec Managing Partner added, “We are excited to again support EAH as it continues to broaden its addressable market and product offerings by entering the highly attractive truck and off-road segment of the automotive aftermarket.”
About RCI
Founded in 2012 and headquartered in Loveland, CO, RCI is a manufacturer and e-commerce retailer of off-road aftermarket accessories for pickup trucks and SUVs sold through RCI’s website, www.rcimetalworks.com.
About EAH
EAH is a leading e-commerce retailer of specialty automotive aftermarket parts, offering more than two million active SKUs of performance, repair, and maintenance parts, both direct-to-consumer and to professional installers. Founded in 2001, EAH is headquartered in Wadsworth, OH. EAH’s websites include: www.ecstuning.com, www.turnermotorsport.com, www.pelicanparts.com, www.rennline.com, www.texas-speed.com, www.z1motorsports.com, www.evannex.com, and www.rcimetalworks.com.
About Cortec
Founded in 1984, Cortec invests in leading, middle-market specialty consumer, business-to-business, distribution, and healthcare products and services businesses in partnership with owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.
