Axcel has sold Mountain Top to RealTruck, the premier manufacturer of functional aftermarket accessories and digital destination for truck, Jeep®, Bronco® and off-road enthusiasts. RealTruck is based in Ann Arbor, Michigan, and has over 5,000 associates across 47 locations throughout North America.
Axcel invested in Mountain Top in late 2017, and during the near six years of ownership the company has become a global brand providing innovative, high-quality accessories to leading pick-up truck producers and retailers in all the key markets. Today, Mountain Top has 350 employees and operates from four sites – Denmark, North America, Thailand and Australia – with entries into the US and Thai markets made under Axcel’s ownership.
“I’m very pleased that we’ve achieved our goal of transforming the company from a regional player into a leading global supplier,” says Christoffer Müller, Partner at Axcel. “During our ownership, we’ve invested in growing global markets and new product series, and we’ve expanded the company’s production capabilities. These efforts have resulted in an increase in revenue share outside Europe from 19% to 60% and an increase in earnings of more than 50%. None of this would have been possible without the tireless efforts of the management team and all the employees, and I wish them all the best in the next step of their journey.”
Henrik Støwer Petersen, CEO of Mountain Top, adds:
“Mountain Top has become one of the leading players in the global pick-up truck market during our partnership with Axcel. I want to thank Christoffer Müller and his team for helping us play to our strengths in terms of investing in a unique product offering, best-in-class operations and obtaining a truly global presence. We’re excited to now take Mountain Top even further as part of the RealTruck group.”
Mountain Top has been sold from Axcel Fund V.