M&A Deal Summary

Clearlake Capital Acquires Wheel Pros

On April 10, 2018, private equity firm Clearlake Capital acquired automotive company Wheel Pros from Audax Private Equity and Triangle Capital

Acquisition Highlights
  • This is Clearlake Capital’s 4th transaction in the Automotive sector.
  • This is Clearlake Capital’s 42nd transaction in the United States.
  • This is Clearlake Capital’s 1st transaction in Colorado.

M&A Deal Summary
Date 2018-04-10
Target Wheel Pros
Sector Automotive
Buyer(s) Clearlake Capital
Sellers(s) Audax Private Equity
Triangle Capital
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Wheel Pros

Lakewood, Colorado, United States
Wheel Pros is a designer, marketer, and distributor of branded automotive aftermarket wheels, performance tires, and accessories. Wheel Pros was founded in 1995 and is based in Lakewood, Colorado.

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Buyer(S) 1

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 44 of 88
Sector (Automotive) 4 of 7
Type (Secondary Buyout) 11 of 38
State (Colorado) 1 of 1
Country (United States) 42 of 83
Year (2018) 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-17 Janus International

Temple, Georgia, United States

Janus International is a global turnkey supplier of premium doors, hallway systems, locks, interior solutions, and ancillary technologies to the self-storage, commercial construction, and other industrial sectors. Janus International was founded in 2002 and is based in Temple, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-30 AMCS

Limerick, Ireland

AMCS supplies integrated software and vehicle technology for the waste, recycling, and material resources industries. AMCS Platform is a suite of best-in-class SaaS solutions that includes industry-specific enterprise management software, intelligent optimization, mobile workforce, vehicle technology, digital engagement, and analytics solutions, which delivers digital innovation to the emerging circular economy worldwide. AMCS was founded in 2003 and is based in Limerick, Ireland.

Buy -

Seller(S) 2

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 60 of 102
Sector (Automotive) 4 of 5
Type (Secondary Buyout) 30 of 55
State (Colorado) 4 of 4
Country (United States) 58 of 97
Year (2018) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Protective Industrial Products

Latham, New York, United States

Protective Industrial Products is a provider of consumable personal protective equipment (PPE). Protective Industrial Products was established in 1984 and is headquartered in Latham, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-14 Senneca Holdings

West Chester, Ohio, United States

Senneca Holdings is a manufacturer and distributor of customized doors, including traffic, corrosion resistant, PVC, strip, cold storage, fire and sliding doors. Senneca offers superior design and engineering processes, and supports the development of green product innovations. Senneca Holdings’ family of brands includes Chase, Chem-Pruf, ColdGuard, Econo Max, Eliason, Fib-R-Dor, Saino, and Simon.

Sell -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 52 of 71
Sector (Automotive) 2 of 2
Type (Secondary Buyout) 22 of 28
State (Colorado) 1 of 1
Country (United States) 51 of 70
Year (2018) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-21 Specialized Desanders

Calgary, Alberta, Canada

Specialized Desanders is a oilfield equipment company that specializes in engineering, assembling, distributing, and servicing patented, high-pressure equipment that efficiently removes sand and other solids during the well flowback and production process. Specialized Desanders has longstanding relationships with top Canadian E&P firms and has been growing rapidly in the U.S. market. The Company was co-founded by Chris Hemstock in 2001 and has built a world-class reputation for technical innovation, reliability, and service. Specialized Desanders was founded in 2001 and is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-06 Tate’s Bake Shop

Southampton, New York, United States

Tate’s is a premium, consumer branded producer of gourmet cookies and other baked goods marketed throughout the United States. Tate’s has been one of the fastest growing biscuit brands in the United States over the last 12 months. The brand’s sales have quadrupled over the past five years. Tate’s Bake Shop is the home of America’s top-rated chocolate chip cookie, available at grocery stores, gourmet shops and natural food stores nationwide, as well as online.

Sell $500M
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