The Wheel Group Acquisition

Wynnchurch Capital Acquires The Wheel Group

The Wheel Group is a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories serving the truck, SUV and car markets.

Wynnchurch Capital L.P. has acquired The Wheel Group (TWG). The Wheel Group is a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories serving the truck, SUV and car markets. Founded in 1997, the company offers 16 proprietary brands and serves its customers through 20 sales and distribution centers located throughout the U.S. and Canada. TWG is well-positioned to benefit from growing automotive aftermarket demand, particularly in enthusiast-oriented wheel, specialty tire and accessory categories.

“The Wheel Group has grown into a leading automotive aftermarket business based on our best-in-class customer service, product offering and technical expertise. We look forward to working with Wynnchurch to accelerate our business plan and growth,” said David Williams, CEO of TWG.

Frank Hayes, managing partner at Wynnchurch, said, “TWG is a tremendous new platform investment opportunity for Wynnchurch. We are thrilled to partner with such a strong and experienced group of executives who have built a market leading performer. The company fits exceptionally well with our philosophy of investing in businesses that offer a strong value proposition to their customers, possess a differentiated business model and have significant growth potential.”

Neel Mayenkar, managing director at Wynnchurch, added, “The Wheel Group has built a strong reputation based on a portfolio of proprietary brands, high-quality products, and best-in-class sourcing capabilities. We are excited to partner with management and help facilitate the Company’s next stage of growth.”

Wynnchurch Capital is actively seeking investment opportunities for its $2.277 billion Fund V. In September 2020, Wynnchurch made its first Fund V platform equity investment when it acquired Labrie Environmental Group, a leading manufacturer of refuse collection vehicles across North America. Other recent Wynnchurch investments include: Insulation Corporation of America, a manufacturer of EPS foam products; Huntington Foam, a provider of custom EPS, EPP and ARCEL product; Drew Foam, a manufacturer of custom EPS block and shape molding products; and Pennsylvania Machine Works, a fully integrated manufacturer of high pressure forged fittings and branch connections.

You May Also Like

LKQ Corporation Announces Results for Q2 2023

LKQ President and CEO Dominick Zarcone said wholesale businesses in North America and Europe produced high Q2 revenue.

financial results

LKQ Corporation reported its second quarter 2023 financial results, with revenue for Q2 2023 at $3.4 billion, an increase of 3.2% as compared to $3.3 billion in the second quarter of 2022.

“I am pleased to report strong operational performance for the quarter despite several headwinds, which is a testament to the strength and resilience of our diversified portfolio of businesses. Our largest segments, wholesale - North America and Europe, produced exceptional second quarter revenue growth and margins by focusing on operational excellence. These outstanding performances offset a steep year over year downturn in commodity prices impacting our self service segment and the decrease in demand for our specialty segment's offerings, headwinds that will impact these segments for the balance of 2023,” said Dominick Zarcone, president and CEO. “We also had excellent cash flow during the quarter. Taken as a whole, I am very pleased with the results and extremely proud of our global teams.”

Phinia Highlights Strategic Growth in Q2 Results

After completing its spinoff from BorgWarner, Phinia has secured new OE business and reported a 11.4% YoY sales growth.

SMP Announces Q2 2023 Results and Quarterly Dividend 

SMP continues to be bullish on long-term growth of its engineered solutions business, said President and CEO Eric Sills.

BorgWarner Shows Progress Toward Electric in Q2 Report

BorgWarner Inc. highlighted the ways it’s creating an electric future for its business through its “Charging Forward” plan.’s Q2 Results Driven By Digital Transformation

The second quarter of 2023 marked the highest sales level for any quarter in company history, said CEO David Meniane.

Other Posts

The Wheel Group Announces Two Company Appointments

Dean Rossi was appointed CFO, and Jill Hepp was named marketing manager.

Clarios to Acquire Paragon’s Battery Unit

The investment aligns with the company’s focus on low-voltage vehicle architecture and systems.

NaaS Technology to Acquire Charge Amps AB

A Swedish EV charging solutions provider, Charge Amps has an international footprint in 13 markets.

Valeo Sells Propulsion Systems Business in Russia

Valeo is selling this business unit as part of its decision to divest its production activities in the country.