Weld acquires wheel maker CCW
KANSAS CITY, Mo. (Dec. 31, 2014) — Wheel manufacturer Weld Racing L.L.C. has acquired Complete Custom Wheels (CCW) of Holly Hill, Fla., a manufacturer of premium forged road race, sports car and luxury car wheels.
The deal creates Weld subsidiary CCW Forged Performance. Financial terms of the transaction were not disclosed.
Weld said that CCW offers a variety of sizes, finishes and styles and the company's “reputation for quality and performance is unmatched by any other custom wheel manufacturer.”
Norman Young, Weld president and CEO, said CCW's “championship-winning road racing heritage and uncompromising attitude aligns perfectly with Weld's philosophy and corporate DNA, making it a strategic fit for both companies.
“CCW is the perfect complement to Weld's current product range,” Mr. Young continued. “CCW's ability to produce high-performance forged racing and sports car wheels is proven through over 25 national and international road racing championships.
“Weld's expertise can only further accelerate product development and build on that established success.”
With Weld's deep roots in road racing and luxury European car communities, Mr. Young said the transaction provides the company with access to a new portion of the market it previously did not cater to.
He said Weld intends to keep CCW's Florida wheel plant intact and sees CCW as a sister brand to round out Weld's portfolio.
“With the deal finalized, CCW gains a partner with unparalleled manufacturing experience, industry-leading engineering and technical capabilities that can fuel new growth for the brand,” he added.
Weld said CCW's “existing relationships and experience will feel the positive impact of Weld's technical expertise and manufacturing support,” while Weld “gains an established leader in a new market segment, as well as new design and custom finishing expertise through CCW.”
CCW offers tire-wheel packages as well.
Since 1967, Kansas City-based Weld has designed, engineered and manufactured wheels “from Main Street to the race track,” according to the firm, which is a member company of Chicago-based investment firm Granite Creek Partners L.L.C.
Granite Creek invests in businesses “with defensible market niches, recognized brands, strong intellectual property and/or manufacturing process assets led by entrepreneurial management teams in food/agribusiness, medical devices and instruments and transportation industry sectors,” according to Weld.
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