DAPHNE,
Ala., July 18, 2024 /PRNewswire/ -- BBB
Industries, LLC ("BBB" or the "Company"), a leading sustainable
manufacturer serving the automotive, industrial, energy storage,
and solar markets, backed by Clearlake Capital Group, L.P.
("Clearlake"), today announced it
has entered into a definitive agreement to
acquire All Star Auto Parts ("All Star"). Terms of
the transaction, which is expected to close in the third quarter,
were not disclosed.
Headquartered in Orlando, FL,
All Star is a growth-oriented provider of alternative automotive
replacement parts including both remanufactured OEM and aftermarket
lights and wheels. All Star primarily focuses on the U.S. collision
repair channel, which it serves through its nationwide distribution
network.
"All Star will strengthen our electronics offering and will
allow us to provide additional product and service options, and we
are thrilled at the prospect of welcoming the All Star team to
BBB," said Duncan Gillis, CEO of
BBB. "Our goal is to continue to spread the power of sustainable
manufacturing at scale to deliver even greater value to the markets
we serve, and we are excited about the growth opportunities that
lie ahead."
"The acquisition of All Star will be an exciting development for
BBB as we continue to build upon the company's foundation in
sustainable manufacturing and accelerate both product and
end-market diversification," said José E. Feliciano, Co-Founder and
Managing Partner, and Colin Leonard,
Partner and Managing Director, at Clearlake.
"This acquisition showcases our O.P.S.® value creation
framework in action as we continue to pursue accelerated growth
through both organic initiatives and strategic M&A," added
Ben Kruger, Principal at
Clearlake.
About BBB
BBB Industries, LLC is a leading sustainable manufacturer serving
the automotive, industrial, and renewable energy markets. With an
extensive footprint and operations throughout North America, BBB entered the European market
in 2020 and now sustainably manufactures and supplies an assortment
of nondiscretionary repair parts across more than 90 countries.
TERREPOWER is a division of BBB that services the electric vehicle,
energy storage and solar markets across both North America and Europe. Founded in 1987, BBB Industries, LLC
is a private company with corporate centers located in the greater
Mobile, Alabama and Dallas, Texas areas. Please
see www.bbbind.com for more information.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006
operating integrated businesses across private equity, credit and
other related strategies. With a sector-focused approach, the firm
seeks to partner with experienced management teams by providing
patient, long-term capital to dynamic businesses that can benefit
from Clearlake's operational
improvement approach, O.P.S.® The firm's core target sectors
are industrials, technology and consumer. Clearlake currently has over $80 billion of assets under management and its
senior investment principals have led or co-led over 400
investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK, Dublin,
Ireland and Singapore. More
information is available at www.clearlake.com.
BBB Industries Contact:
Denise Seale
Director - Corporate Communications and Government Affairs
BBB Industries, LLC
denise.seale@bbbind.com
Clearlake Contact:
Jennifer Hurston
Lambert
+1-845-507-0571
jhurson@lambert.com
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SOURCE BBB Industries, LLC