Wheel Pros, a portfolio company of Audax Private Equity, has completed the add-on acquisition of American Force Wheels.
American Force Wheels is a manufacturer of forged aluminum aftermarket wheels for pickup trucks and sport utility vehicles (SUVs). The company sells both single rear wheel and dual rear wheel products that are custom manufactured to order in a variety of styles and finishes in sizes up to 28 inches in diameter.
American Force Wheels was founded in 1995 by Ray Shadravan and is headquartered in Miami (www.americanforcewheels.com).
Wheel Pros is a designer, marketer, and distributor of branded aftermarket wheels, primarily for light trucks and similar vehicles. Brand names include American Racing, KMC Wheels, XD Wheels, Helo, ATX Wheels, Moto Metal and Motegi Racing. The company also distributes performance tires and accessories. The company distributes more than two dozen brands of high-performance wheels and tires through 32 distribution centers across the United States, Canada, and Australia. Wheel Pros is headquartered near Denver in Greenwood Village, CO (www.wheelpros.com).Wilson
Audax acquired Wheel Pros from Platinum Equity in July 2014. Platinum first invested in the aftermarket wheels industry in July 2005 when it acquired American Racing Equipment. In March 2008, American Racing acquired Wheel Pros, a leading competitor, and the merged entity was renamed Wheel Pros.
Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
Quarton International (www.quartoninternational.com) was the investment banking advisor to American Force Wheels on this transaction.
© 2017 Private Equity Professional | September 27, 2017
