Windjammer Capital Investors has reached an agreement to sell its portfolio company BBB Industries to Pamplona Capital Management. Pamplona is currently investing out of its fourth private equity fund, Pamplona Capital Partners IV LP, which was raised in June 2014. The transaction is expected to close prior to year end 2014.
BBB is a manufacturer and distributor of auto aftermarket replacement parts, primarily remanufactured starters, alternators, brake calipers and power steering products. The company maintains an inventory of more than 11,000 SKUs. BBB was founded in 1987 by brothers Jeffrey and Bruce Bigler and has manufacturing facilities in both the United States and Mexico. The company is headquartered in Mobile, AL (www.bbbind.com).
Windjammer Capital Investors makes control investments in middle market businesses with EBITDAs from $10 million to $40 million. Sectors of interest include advanced manufacturing, specialty distribution and business services. With a consistent focus on the middle market, the firm has completed investments in 49 platform companies over the past 22 years. Windjammer is currently investing out of its Windjammer Senior Equity Fund IV with capital commitments in excess of $725 million. The firm was founded in 1990 and is based in Newport Beach, CA and Waltham, MA (www.windjammercapital.com).
Harris Williams & Co. (www.harriswilliams.com) is the financial advisor to BBB Industries. The transaction is being led by Chris Williams, Joe Conner, John Arendale, Jershon Jones, Chip Duggins, Brooks Hopple and Jay Beekman from Harris Williams & Co.’s Richmond office.
“This is the second time we have had the pleasure of working with BBB. With the expansion of both its product line and distribution channels, the company continues to find avenues for growth in the market. Windjammer has been a thoughtful partner to management at each step along the way and we appreciated the opportunity to help with such an important transaction for everyone involved,” said Chris Williams, managing director at Harris Williams & Co.
Pamplona Capital Management is an investment manager that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona manages over $6 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. The firm was founded in 2005 and is based in London and New York (www.pamplonafunds.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-12-14