October 12, 2022

Hudson, WI – All States Ag Parts, LLC (“All States Ag Parts” or “ASAP”), the leading North American supplier of replacement agricultural and heavy equipment parts, announced the acquisition of Arrow Acquisition, LLC (“Arrow” or the “Company”). Founded in 1969, Arrow specializes in forks and attachments for a wide range of material handling equipment including forklifts, skid steers, loaders, telehandlers, excavators, tractors and backhoes from mini and compact equipment to large equipment. Arrow is headquartered in Lenexa, KS and has distribution facilities in Lenexa, KS; Houston, TX; Norfolk, VA and Corona, CA. Arrow is ASAP’s fifteenth add-on acquisition since partnering with Kinderhook.

The acquisition expands ASAP’s heavy equipment business into the adjacent category of material handling and further solidifies its position as a leading replacement parts business diversified across agriculture and industrial markets. Key members of Arrow’s management team will remain with the business post-close, including Arrow CEO Terry Melvin. With the addition of Arrow, ASAP now operates 42 locations across North America.

Terry Melvin, CEO of Arrow, said, “We are thrilled to partner with ASAP and Kinderhook to accelerate the growth of Arrow. We look forward to continuing to serve our customers alongside a partner with the same core values.”

“The acquisition of Arrow allows ASAP to immediately become the leading provider of attachment parts for the material handling industry. Arrow will add in-house manufacturing and engineering capabilities that will be highly synergistic across the platform. Terry and his team have built a tremendous business, and we look forward to working with them to offer best-in-class service to our combined customer base,” said Bill Davidson, President of ASAP.

Paul Cifelli, Managing Director at Kinderhook, stated, “The Arrow transaction further demonstrates ASAP’s ability to effectively increase scale and diversify its product lines through acquisitions. Arrow’s impressive track record and stellar reputation will be highly accretive to 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 including Maranon Capital, Ares Management, Madison Capital Funding, Union Bank, and SLR Capital Partners.

For additional information about this transaction, please contact: 
Paul Cifelli
Managing Director
(212) 201-6797
[email protected]
 
Michael Zoch
Managing Director
(212) 201-6785
[email protected]
 
Nate Druckenmiller
Principal
(212) 201-6791
[email protected]