NEW YORK (Nov. 17, 2015) — Private equity firm Soundcore Capital Partners L.L.C. has completed its acquisition of Alloy Wheel Repair Specialists, which it called the world's largest full-service alloy wheel repair and replacement company.
New York-based Soundcore said the deal marks its first platform investment since the firm's launch last April. Terms of the private transaction were not disclosed. The company's investment team is Jarrett R. Turner, managing partner and founder, and John G.R. Gabler, associate.
Norcross, Ga.-based Alloy, founded in 2001, provides on-site repair of cosmetic damage to alloy wheel cores, off-site remanufacturing of structurally damaged wheels, and OEM replacement parts through a retail network. The company and its franchisees currently operate in 47 U.S. states and 15 countries, servicing more than 8,000 auto dealerships, collision shops, tire dealership accounts, rental car agencies, auctions and automotive centers, as well as retail consumers.
Wheel repair is among the fastest-growing sub-sectors within the auto-reconditioning market, according to Soundcore, accounting for more than $750 million in annual revenues in the U.S. alone.