MOBILE, Ala. – Pamplona Capital Partners, a global private equity investment firm, has agreed to acquire BBB Industries LLC.
Founded in 1987 and headquartered in Mobile, Ala., BBB is a leading remanufacturer of automotive products for the North American aftermarket. The company has a unique distribution platform allowing it to service both warehouse distributors and retailers with an extensive portfolio of 20,000 SKUs. Over the past few years, BBB reports to have experienced significant growth, driven by new business wins, expansion into new products and strategic acquisitions, and supported by state-of-the-art remanufacturing facilities in Reynosa, Mexico and Sparta, Tenn.
Commenting on the transaction, Joe Felicelli, chief executive of BBB, said: “We are delighted to be partnering with Pamplona. We have worked hard over a number of years to position ourselves as an industry leader with a broad product offering and a reputation for being the solution provider for our customers. Under Pamplona’s ownership, we will continue to provide our customers with high-quality products and an excellent distribution service, but most importantly, we will continue our commitment of supporting the growth of our customers.”
Martin Schwab, the partner at Pamplona leading the transaction, commented, “BBB is an excellent business and we are delighted to be partnering with an exceptional management team that has grown the company significantly over the past few years. Pamplona will work with management to accelerate the company’s growth ambitions by providing long-term financial and strategic support. We believe there are significant opportunities to grow both organically and through acquisition and are excited to be part of the business going forward.”
The acquisition will be made from Pamplona’s fourth private equity fund, Pamplona Capital Partners IV LP, a $4 billion investment vehicle, raised earlier this year. Pamplona was advised by Houlihan Lokey and XMS Capital while Hogan Lovells US LLP acted as legal counsel.
The completion of the transaction is subject to customary conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Act, and is expected to be completed during the fourth quarter of 2014.
