ReadyLIFT is a leading designer and manufacturer of high-quality leveling and suspension kits for off-road enthusiasts in the automotive aftermarket. The Mangrove team has enjoyed considerable successes in the automotive aftermarket with other enthusiast-driven consumer product companies.
Mangrove’s internal operating team worked collaboratively with ReadyLift to optimize operating efficiency, profitability, and growth, while preserving ReadyLIFT’s outstanding commitment to quality and the satisfaction of its customers. Mangrove has invested half of the firm’s ownership in a four-man internal operating team to roll up the sleeves in support of portfolio companies with key initiatives, as few of our friendly competitors can. Some of the areas where Mangrove was materially helpful to the talented team at ReadyLIFT include:
- Supported substantial expansion of management team, including scoping of and recruiting for positions
- Double digit revenue growth 3 of 4 years
- Acquired largest supplier and vertically integrated into manufacturing
- Consolidated fulfillment from distant locations into one
- Created world-class product development center and process enabling first-to-market strategy
- Diversified customer base
- Created new market segments outside traditional channels
- Implemented ERP
- Implemented data analytics
- Mangrove Equity Partners: More Than the Commodity of Capital. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience to create solutions and get deals done.
One fun fact regarding this exit of ReadyLIFT is that we sold ReadyLIFT to WheelPros, the nation’s largest provider of auto aftermarket wheels and tires. Members of the Mangrove team were WheelPros’ first institutional investors and were helpful to WheelPros in overcoming market challenges and subsequently growing into the sizeable market leader it is today.
Mangrove Equity Partners: More than the Commodity of Cash. The Mangrove team works hard to be your go-to private equity fund in the lower middle market by leveraging our extensive experience to make decisions and get deals done. Mangrove’s four-man internal operating team affords us an ability to leverage their extensive experience working closely with our porfolio company partners to overcome hurdles to growth, and to optimize shareholder value.
The Mangrove team has exemplified an attitude and practice of partnership with our deal sources over the past 26 years. We roll up our sleeves and work with intermediaries to do what is necessary to move good deals forward, even in the face of company or deal complexity. If an opportunity is not a fit for Mangrove’s criteria, we endeavor to provide accurate and helpful suggestions as to who may have a pointed interest. Our goal is to help our deal sources get their deals done and accordingly, become their go-to fund in the lower middle market. We hope to have the pleasure of working closely with you.