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April 10, 2018 02:00 AM

Clearlake Capital acquires Wheel Pros

Tire Business Staff
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    SANTA MONICA, Calif. — Clearlake Capital Group L.P. has acquired Wheel Pros Holdings L.L.C., the Denver-based distributor of branded automotive aftermarket wheels, performance tires and accessories.

    Financial terms of the deal were not disclosed. Clearlake Capital said it carried out the acquisition with "certain affiliates" and in partnership with Wheel Pros' management team.

    Wheel Pros has been owned since 2014 by private equity investors Audax Group Inc.

    Wheel Pros serves over 10,000 retailers through 33 distribution centers in North America and Australia. The company's portfolio includes a dozen proprietary brands with 300-plus custom wheel styles, covering light trucks, SUVs, passenger cars and power sport utility vehicles, Clearlake Capital said.

    "We are thrilled to partner with Clearlake as we look to bolster Wheel Pros' leadership position automotive aftermarket wheels," Wheel Pros Co-CEOs and Co-Founders Jody Groce and Randy White said.

    "Custom wheels continue to be one of the most visible ways to personalize a vehicle," they said, "and our customers use it as an opportunity to express their personality. Clearlake's operational expertise and substantial resources will allow us to continue innovating and providing the highest quality products and services to our customers and help us accelerate growth."

    Founded in 1995, Wheel Pros also distributes performance tires and accessories. Among its portfolio of wheel brands are American Racing, Asanti, KMC Wheels, ATX, Fairway Alloys, Moto Metal, Motegi Racing, MSA, OECreations and RockStar, the company states on its website.

     

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