DK2 is the result of three simultaneous acquisitions to create the leading North American manufacturer of small-to-medium scale outdoor power equipment and utility trailers. The DK2 platform caters to the growing “prosumer” marketplace, focusing on homeowners with more than five acres of land and small-scale landscapers, ranchers, and farmers.
Two of the combined businesses, DK2 and SnowBear, are based in Ontario, Canada while the third business, Currahee Tailers, is headquartered in Mount Airy, Georgia. The platform, operating under the DK2 name, is the #1 or #2 North American player across more than 250 products in outdoor power equipment and utility trailers. Among the products are a wide selection of woodchippers, snowplows, winches, and utility trailers. Overall annual revenues exceed $60 Million and annual sales growth surpassed 40% over the past five years.
The owners and senior management teams of all three companies have retained a significant stake in the merged platform and remain actively involved in company management.
Through a proactive, thesis-driven effort, Harvey & Company identified and engaged over 100 privately-held companies in the broader outdoor power equipment and prosumer accessories space. We discovered a significant opportunity in the marketplace for a growth & acquisition strategy, and identified DK2, and its management team, as an ideal initial platform investment.
Prior to Harvey & Company’s outreach, the owners of DK2 were operating a highly successful and growing business with no capital constraints or desire to exit the business; however, following our introduction to a private equity group with industry leading operational and brand-building expertise, a significant partnership was built. Multiple entrepreneurs and their respective teams came together with the common goal of implementing the next level of growth as part of an organization that is greater than the sum of its parts. Harvey & Company co-invested in the platform alongside the lead private equity sponsor and continues to spearhead the aggressive add-on acquisition strategy.