Clearlake Capital Group L.P. announced that it has acquired Wheel Pros Holdings LLC in partnership with the company’s management team. Wheel Pros is a designer, marketer, and distributor of branded automotive aftermarket wheels, performance tires and accessories. Financial terms of the transaction were not disclosed.
Founded in 1995, Wheel Pros serves more than 10,000 retailers with a growing global network of 33 distribution centers spanning North America and Australia. The company has a portfolio of 12 proprietary brands with more than 300 custom wheel styles, including some of the most recognized designs in the industry. Wheel Pros’ brands have a strong presence across all major vehicle segments, including light trucks, SUVs, passenger cars and power sport utility vehicles.
“We are thrilled to partner with Clearlake as we look to bolster Wheel Pros’ leadership position in automotive aftermarket wheels,” said Jody Groce and Randy White, co-founders and co-CEOs of Wheel Pros. “Our customers demonstrate a strong connection to their vehicles and take pride in their presentation. Custom wheels continue to be one of the most visible ways to personalize a vehicle 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.”
“Wheel Pros is a clear market leader in automotive aftermarket wheels, and we are excited to partner with Randy, Jody and the management team as the company enters its next phase of growth,” said José Feliciano, co-founder and managing partner at Clearlake. “Wheel Pros’ superior product innovation, diverse portfolio of iconic brands and relentless focus on customer service and consumer satisfaction has allowed the company to develop a passionate and loyal customer base as well as enabled the company to establish itself as the leading distributor in the industry.”
“We look forward to supporting Wheel Pros in its strategic growth initiatives, including further expanding its distribution network and increasing the breadth of its offering, both organically and through acquisitions,” said Colin Leonard, partner at Clearlake. “The company’s diverse portfolio of brands and strong position in very attractive vehicle segments should enable the platform to continue on its growth trajectory and expand market share.”
William Blair served as financial adviser to Wheel Pros.