Lenexa, KS – Arrow Acquisition, LLC (“Arrow”), a portfolio company of B12 Capital Partners, Capital For Business, Diamond State Ventures, Konza Valley Capital, Inc., and Mid States Capital L.P., has been acquired by All States Ag Parts, LLC (“ASAP”), a portfolio company of Kinderhook Industries. Hennepin Partners served as Arrow’s exclusive financial advisor and Husch Blackwell served as legal counsel. Terms of the transaction were not disclosed.

Headquartered in Lenexa, KS, Arrow is a market leading provider of material handling solutions, specializing in forks and other engineered attachments (buckets, augers, multi-pallet handlers, rotators and hydraulic clamps, amongst others) serving OEMs and the replacement aftermarket. Arrow’s attachments are function-critical to a wide range of mobile equipment such as forklifts, skid steers, wheel loaders, telehandlers, excavators, tractors and backhoes. Arrow utilizes a multi-faceted, multi-brand model that combines distribution, sourcing and manufacturing to prioritize product availability, breadth of offering, lead times and quality. Arrow offers thousands of SKUs serving numerous applications across various end markets including material handling, industrial, construction and agriculture, among others. Arrow’s products are compatible with virtually any equipment manufacturer and are sold through the equipment rental, dealer, OEM and direct-to-consumer channels.

“Hennepin Partners orchestrated a robust sale process providing senior banker leadership and thorough representation and advice from start to finish, the combination of which delivered a great outcome. Arrow is a dynamic company with outstanding leadership and I have no doubt that both ASAP and Kinderhook will be similarly satisfied as we were with Arrow as part of their platform,” stated Greg Gaeddert Managing Partner of B12 Capital Partners.

Bill Witzofsky, Senior Vice President of Capital for Business, added “Hennepin Partners was a tremendous asset throughout this process, including advising us on the right time to take Arrow to market. Hennepin’s team of senior bankers provided the transaction experience and industry knowledge to achieve a very successful outcome for all the shareholders and management. Their guidance and advice were invaluable, and we look forward to working with Hennepin on future transactions.”

Terry Melvin, CEO of Arrow, said, “We are thrilled to partner with ASAP and Kinderhook to accelerate the growth of Arrow. Hennepin Partners did a great job designing and executing a tightly managed process that achieved a wonderful outcome for all. We look forward to continuing to serve our customers alongside a partner with the same core values.”

Paul Cifelli, Managing Director at Kinderhook, stated, “The Arrow transaction further demonstrates ASAP’s ability to effectively increase scale and diversify its product lines through acquisitions. Arrow’s impressive track record and stellar reputation will be highly accretive to ASAP’s network of businesses.”