Wheel Pros, a portfolio company of Clearlake Capital, has acquired Amcor Industries. Clearlake acquired Wheel Pros in March 2018 from Audax.
Amcor Industries (DBA Gorilla Automotive Products) designs, manufactures and sells branded lug nuts, wheel locks, wrenches, and gauges. The company is led by President Peter Schermer and is headquartered in Los Angeles (www.gorilla-auto.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 30 distribution centers across the United States, Canada, and Australia. Wheel Pros is headquartered near Denver in Greenwood Village, CO (www.wheelpros.com).
“Wheel Pros is a clear market leader in automotive aftermarket wheels, and the acquisition of Gorilla is highly complementary to Wheel Pros’ existing products,” said José Feliciano, Clearlake’s Co-Founder and Managing Partner. “With this acquisition, Wheel Pros adds another iconic brand to its broad portfolio.”
Clearlake Capital invests in companies that are active in the industrials and energy; software and technology-enabled services; and consumer sectors. The firm was co-founded by Mr. Feliciano and Behdad Eghbali in 2006 and is headquartered in Santa Monica, CA (www.clearlakecapital.com).
In March 2018, Clearlake Capital held a final close of Clearlake Capital Partners V LP with over $3.6 billion in commitments. Fund V exceeded its target and was substantially oversubscribed, reaching its hard cap. At over $3.6 billion, Fund V is the largest fund that Clearlake has ever raised.
William Blair was the financial advisor to Wheel Pros on this transaction.
© 2018 Private Equity Professional | June 4, 2018
