CURT Group Company Profile

Background

Founded in 1993, CURT Group has established itself as a leading manufacturer and distributor of towing products and truck accessories. The company's mission is to deliver high-quality, innovative solutions that enhance the towing experience for a diverse range of vehicles, from passenger cars to commercial trucks. As a subsidiary of Lippert Components, Inc., CURT Group operates under the guiding principle that "the customer is KING and our associates are our greatest ASSET."

Key Strategic Focus

CURT Group's strategic focus centers on providing a comprehensive line of towing products, including custom-fit trailer hitches, gooseneck and 5th wheel hitches, weight distribution systems, and towing electrical components. The company emphasizes product innovation, safety, and quality, leveraging advanced technologies such as cutting-edge design software and robotic welding. Its primary markets encompass the automotive aftermarket, catering to both individual consumers and commercial entities.

Financials and Funding

In December 2019, CURT Group was acquired by Lippert Components, Inc. for approximately $340 million. Prior to this acquisition, CURT Group was owned by Audax Private Equity, which had acquired the company in 2014. During Audax's ownership, CURT Group expanded its product portfolio and manufacturing capabilities through organic growth and strategic acquisitions.

Pipeline Development

CURT Group continually develops and introduces new products to meet evolving market demands. Recent developments include the expansion of their custom-fit trailer hitch lineup and enhancements to their towing electrical components, aiming to provide safer and more efficient towing solutions. The company maintains a robust product development pipeline, with anticipated releases aligned with automotive industry trends and consumer needs.

Technological Platform and Innovation

CURT Group distinguishes itself through its commitment to technological innovation. The company employs advanced design software, including SOLIDWORKS, to develop precise and reliable towing products. Manufacturing processes incorporate robotic welding and unique finishing techniques, ensuring product durability and safety. Additionally, CURT Group utilizes Google Cloud infrastructure to support its operations, enhancing scalability and efficiency.

Leadership Team

As of the latest available information, Rock Lambert serves as the CEO of CURT Group. Under his leadership, the company has expanded its product offerings and strengthened its market position. The leadership team comprises experienced professionals dedicated to upholding the company's commitment to quality and innovation.

Leadership Changes

In December 2019, CURT Group underwent a significant leadership transition when it was acquired by Lippert Components, Inc. This acquisition integrated CURT Group into Lippert's organizational structure, aligning leadership strategies to leverage combined strengths in the towing products and truck accessories market.

Competitor Profile

Market Insights and Dynamics

The towing products and truck accessories market is characterized by steady growth, driven by increasing vehicle ownership and the popularity of outdoor recreational activities. Consumers seek high-quality, durable, and innovative towing solutions, prompting companies to invest in product development and technological advancements.

Competitor Analysis

Key competitors in the towing products and truck accessories market include:

Reese Towpower: Known for a wide range of towing products, including hitches and towing accessories.

Draw-Tite: Offers a variety of trailer hitches and towing solutions with a focus on quality and durability.

Blue Ox: Specializes in towing equipment, including tow bars and baseplates, catering to both recreational and commercial markets.

Hidden Hitch: Provides a selection of trailer hitches designed for seamless integration with various vehicle models.

These competitors emphasize product innovation, safety, and customer satisfaction, contributing to a dynamic and competitive market landscape.

Strategic Collaborations and Partnerships

CURT Group has expanded its market presence and product offerings through strategic acquisitions, including:

Aries Automotive Accessories: Acquired in June 2014, Aries specializes in tubular-style truck accessories and 3D floor and cargo liner interior accessories.

Luverne Truck Equipment: Acquired in February 2016, Luverne is a domestic manufacturer of truck accessories, offering a wide selection of front-end protection, side steps, splash guards, and mirrors.

These acquisitions have enabled CURT Group to diversify its product portfolio and strengthen its position in the automotive aftermarket industry.

Operational Insights

CURT Group operates manufacturing plants in Wisconsin, South Dakota, and Florida, supported by 12 regional warehouses across the United States and Canada. This extensive distribution network ensures efficient product delivery and market penetration. The company's commitment to quality is underscored by its Quality Management System certification to IATF 16949:2016, reflecting adherence to international automotive quality standards.

Strategic Opportunities and Future Directions

Looking ahead, CURT Group aims to leverage its technological capabilities and market expertise to introduce innovative towing solutions that meet evolving consumer demands. The company plans to expand its product lines, enhance manufacturing processes, and strengthen its distribution channels. By focusing on quality, innovation, and customer satisfaction, CURT Group is well-positioned to maintain its leadership in the towing products and truck accessories market.