Brown Gibbons Lang & Company (BGL), a leading investment banking and financial advisory firm, is pleased to announce the sale of Load Rite Trailers, Inc. (Load Rite), a leading supplier of specialty trailers and aftermarket components to the marine industry, to KODA Enterprises Group (KODA) via KODA’s wholly owned holding company Waterland, LLC (Waterland). BGL’s Industrials investment banking team served as the exclusive financial advisor to Load Rite in the process. The specific terms of the transaction were not disclosed. The transaction highlights the experience of BGL’s Automotive & Aftermarket team in the enthusiast specialty vehicle space.
Established in 1980, Load Rite is a leading branded supplier of recreational boat, pontoon, and jet ski trailers, and associated aftermarket parts, offering a full line of highly customizable engineered galvanized and aluminum trailers. Products are sold throughout the Eastern U.S. and Canada through an extensive network of hundreds of independent dealers. Load Rite has outstanding capabilities in its production, sales, and distribution processes, and has significantly outperformed the market and grown its market share since the beginning of the COVID-19 pandemic.
Load Rite President and CEO Tom Morrison commented, “BGL ran a competitive process in a very busy market and provided our team with a range of partners for expanding the business. We are excited to partner with KODA and the team at Waterland and look forward to this next phase of growth.”
For Waterland, which also owns Continental Trailers (Water-land Manufacturing & Supply), the acquisition of Load Rite is highly strategic, expanding Waterland’s marine trailer manufacturing and distribution capabilities across a complete line of boat trailers. Additionally, 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. Together, the companies represent the largest non-OEM marine trailer manufacturer in the country. Load Rite’s current management of will remain in place to grow the business.