M&A Deal Summary

Clearlake Capital and Genstar Capital Acquire BBB Industries

On May 19, 2022, private equity firms Clearlake Capital and Genstar Capital acquired automotive company BBB Industries from Genstar Capital

Acquisition Highlights
  • This is Clearlake Capital’s 6th and Genstar Capital’s 3rd transaction in the Automotive sector.
  • This is Clearlake Capital’s 81st and Genstar Capital’s 94th transaction in the United States.
  • This is Clearlake Capital’s 1st and Genstar Capital’s 4th transaction in Alabama.

M&A Deal Summary
Date 2022-05-19
Target BBB Industries
Sector Automotive
Buyer(s) Clearlake Capital
Genstar Capital
Sellers(s) Genstar Capital
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Latham & Watkins
Kirkland & Ellis (Legal)

Target

BBB Industries

Daphne, Alabama, United States
BBB Industries engages in remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. BBB Industries was founded in 1987 headquartered in Daphne, Alabama.

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Buyer(S) 2

Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 84 of 90
Sector (Automotive) 6 of 7
Type (Secondary Buyout) 37 of 39
State (Alabama) 1 of 1
Country (United States) 81 of 85
Year (2022) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Tungsten Automation

Irvine, California, United States

Tungsten Automation provides an intelligent automation software platform and solutions to enable organizations to digitally transform content-intensive workflows. The company supports customers in realizing faster time-to-value and increased competitiveness, growth, and profitability by combining Kofax’s cognitive capture, robotic process automation, process orchestration, analytics, and mobile capabilities while helping increase business resiliency and mitigating compliance risk. Tungsten Automation was formed in 1985 and is headquartered in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-30 Chelsea FC

London, United Kingdom

Chelsea FC is an iconic football brand with over 500 million fans across over 180 countries. Chelsea FC was founded in 1905 and is based in London, United Kingdom.

Buy -
Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 102 of 109
Sector (Automotive) 3 of 3
Type (Secondary Buyout) 45 of 49
State (Alabama) 4 of 4
Country (United States) 94 of 101
Year (2022) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Brook & Whittle

Guilford, Connecticut, United States

Brook & Whittle is a manufacturer of premium prime label solutions with highly differentiated capabilities, entrusted by some of the most well-known brands. The Company provides pressure-sensitive labels, shrink sleeves, and flexible packaging, with a focus on sustainable solutions and decorative effects requiring significant technical expertise. Brook & Whittle was founded in 1995 and is based in Guilford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-10 Advarra

Columbia, Maryland, United States

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.

Sell -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.

DEAL STATS #
Overall 58 of 60
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 22 of 23
State (Alabama) 2 of 2
Country (United States) 52 of 54
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Brook & Whittle

Guilford, Connecticut, United States

Brook & Whittle is a manufacturer of premium prime label solutions with highly differentiated capabilities, entrusted by some of the most well-known brands. The Company provides pressure-sensitive labels, shrink sleeves, and flexible packaging, with a focus on sustainable solutions and decorative effects requiring significant technical expertise. Brook & Whittle was founded in 1995 and is based in Guilford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-10 Advarra

Columbia, Maryland, United States

Advarra is a provider of IRB, IBC, and compliance consulting services in North America. Fully accredited by AAHRPP, the company serves pharmaceutical, biotechnology, and medical device research sponsors and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and patient advocacy groups. Advarra was founded in 1983 and is based in Columbia, Maryland.

Sell -
Mergr

Product

Company

Legal