Santa Ana-based Line-X, a maker of spray-on truck bed liners, has been acquired for undisclosed terms by private equity firm Graham Partners of suburban Philadelphia.
Washington, D.C.-based Allied Capital Corp. provided $57.1 million in debt financing as part of the deal.
Line-X has more than 500 franchisees for its bed liners, which protect against weather and heavy payloads.
The company, which was founded in 1993, licensed its products until 2000 when it switched to a franchising model, which helped propel its growth, according to Line-X.
The deal isn’t the first in Orange County for Graham Partners. In 2000, the firm and New York-based Brera Capital Partners bought Anaheim Manufacturing Co., an offshoot of Milwaukee’s Western Industries Inc.
Anaheim Manufacturing produces garbage disposers under the brand names Waste King, Whirlaway, and Sinkmaster. It also makes hot water dispensers.
