Source: The DVS Group

The DVS Group Announces Acquisition of Aftermarket UTV Parts Distributor Side By Side Stuff by Nivel

The strategic transaction brings together Side By Side Stuff's brand cachet with UTV enthusiasts and Nivel's strong distribution capabilities in the specialty vehicle category. Mergers and acquisitions firm The DVS Group provided sellside representation for the deal.

KANSAS CITY, Mo., March 30, 2020 (GLOBE NEWSWIRE) -- M&A firm The DVS Group ("DVS") is pleased to announce the acquisition of Side By Side Stuff ("Stuff") by Nivel Parts & Manufacturing Co LLC ("Nivel"). Stuff is the leading aftermarket parts marketer for the UTV retail market.

DVS served as the sellside advisory for Stuff, playing a key role in putting the transaction together and seeing it through to completion.

Side By Side Stuff – DVS Sellside Client:

Founded in 2006, Missouri-based Side By Side Stuff offers the highest quality Utility Terrain Vehicle (UTV) accessories and parts. The company has built an impressive customer following based on exceptional service, affordable prices, and an authentic knowledge of and passion for the outdoor sports lifestyle.

Nivel:

Founded in 1968, Nivel is a global aftermarket manufacturer, distributor and seller of specialty and heavy duty vehicle parts and accessories. With access to over 100,000 parts and accessories, it is the largest supplier in the niche vehicle aftermarket parts industries in North America. Nivel’s Specialty Vehicles division is the largest supplier of golf cart and Personal Transportation Vehicle (PTV) parts and accessories in North America, with ownership of valuable brands including MadJax, Red Dot, GTW, Jake’s and Reliance.

The Deal:

"The journey that eventually led to the sale began about three years ago," revealed Ben Olsen, Managing Partner of DVS. Stuff's CEO and Founder, Scott Harper, wanted to divest but the company—through strong and growing rapidly—was not quite yet of the right size to be an ideal target. "Prior to our formal engagement, I consulted with Scott to help him get his company in the best position for sale to a strategic buyer. Our job at DVS is to present the facts needed to make the best decisions."

By late 2017, Stuff had gained the attention of Nivel. Nivel wanted to expand their Specialty Vehicles division by getting into the Utility Terrain Vehicle (UTV) market—one of the market's fastest growing segments.

"It became clear as time went on that a good match was developing," recounted Olsen. "There wasn't an offer yet, but there were signals. We had to do a lot of 'translating' of those signals and figure out what Nivel might be considering in the market."

Stuff formally retained DVS as their sellside representative in mid-2019.

"We had a lot of comfort going into negotiations because of Stuff's strong standing with the UTV customer base," said Olsen. "Nivel made a very compelling offer that our client could not only be happy with, but was structured to minimize his risk and maximize his upside potential."

DVS also brought in an outside firm early on to perform a Quality of Earnings assessment, helping to prepare for aspects of financial due diligence well in advance. DVS then helped manage through the typically chaotic due diligence process with thorough communication and tight coordination between all parties.

Nivel felt tremendous satisfaction following the acquisition, reported Olsen. "This purchase fits their strategy of truly transforming the aftermarket specialty vehicle parts and accessories industry, not only here in the U.S. but internationally," he said. "They want to offer an innovative range of both PTV and UTV products, and this acquisition is a big step in meeting that goal."

Nivel also acquired Octane Ridge, a subsidiary of Stuff. Following the sale, Side By Side Stuff and Octane Ridge will continue to operate as independent subsidiaries within the Nivel Specialty Vehicles division. Harper will continue to lead as General Manager.

"Scott is excited to be joining the Nivel team and continuing to do what's important to him—helping grow the UTV market," said Olsen. "This deal worked out well for everyone."

About The DVS Group

Founded in 2004, The DVS Group is a Kansas City based mergers and acquisitions firm with nationwide reach. They help private company buyers and discreet sellers navigate one of the most significant and complex events they will experience. DVS specializes in businesses with at least $1 million in annual profit and offers both buyside and sellside representation.

DVS specializes not just in M&A, but in the people behind it. They use a deliberate process—tailored to the client's identity and worldview—to find and combine the right people, capital and companies. The client's definition of success drives the engagement. DVS brings unique knowledge and skill to the entire process—with all its complexities and often grueling emotions—to ensure the client's comfort, clarity and protection.

For more information about The DVS Group, visit TheDVSGroup.com.


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Ben Olsen, Managing Partner
The DVS Group
(913) 713-4156
ben.olsen@thedvsgroup.com