Kinderhook Industries has won PE Hub's Mid-Cap North America Deal of the Year Award for its sale of Vehicle Accessories Inc. to RealTruck. The private equity firm acquired VAI in 2019 and grew it through a six-year hold period that included multiple add-on acquisitions, culminating in the sale to its former portfolio company.

Despite pandemic disruptions and a challenging M&A environment in 2024, Kinderhook successfully monetized VAI's unique position in the automotive accessories market. The company produces dealer-installed accessories for major brands including Toyota, Lexus, Ford, and General Motors, operating in a niche between aftermarket and OEM suppliers that offers attractive margins with OEM visibility.

The sale process occurred during a period of low M&A activity, depressed new car sales, and high interest rates, yet VAI continued to perform. Kinderhook's focus on local manufacturing provided protection against tariff volatility, while its deep automotive industry experience allowed the firm to recognize VAI's value when others overlooked it. The company's strategy of consolidating fragmented family-owned players in this underserved segment proved successful.