Koch firm to acquire stake in transportation company

An affiliate of Koch Equity Development and BDT Capital Partners will acquire a New York-based transportation equipment company, and will partner with Penske Corp.

The acquisition of Truck-Lite Co. will allow the Falconer, N.Y. company to invest in new products and services, according to a news release Friday.

“Truck‐Lite is an exciting opportunity for KED,” Matt Flamini, president of Koch Equity Development, said in the release. “Truck‐Lite has a leading position with a strong management team and a consistent record of results. Partnering with BDT, Penske and the Truck‐Lite management team is an important part of the KED investment strategy.”

Financial terms of the deal were not disclosed.

Truck‐Lite provides safety lighting and filtration systems for commercial vehicles and LED lighting to the off‐road industry.

This story was originally published September 25, 2015 at 10:46 AM with the headline "Koch firm to acquire stake in transportation company."