Santa Monica-based private equity firm Clearlake Capital’s Wheel Pros business in Colorado has combined with Rancho Dominguez-based MHT Luxury Wheels Inc. to form what the companies claim is the largest automotive aftermarket wheel platform in the world.
Financial terms of the transaction were not disclosed.
This transaction brings together the leading brands in the market such as Fuel, KMC, American Racing, Rotiform, and others under one organization.
The combined company will operate under the Wheel Pros name, offer a total of 22 brands, and produce 3 million wheels.
As part of the transaction, MHT shareholders have invested in the combined company and Art Hale Jr., founder and chief executive of MHT, will continue to be involved in product design and operations and is a member of the board of directors of the combined company.
Jody Groce and Randy White, co-founders of Greenwood Village, Colo.-based Wheel Pros, will continue to serve as co-CEOs of the combined company.
Finance reporter Pat Maio can be reached at email@example.com or (323) 556-8329
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Clearlake Capital Doubles Down on Dubs
- Clearlake Capital Portfolio Company Acquires Amcor Industries
- Deals & Dealmakers: More Marijuana Millions
- Santa Monica-Based Clearlake Capital Backs Perforce’s Buy of Rogue Wave
- American Construction Buys Fourth Materials Supplier
- ACS Builds Portfolio
- Clearlake Capital Acquires Dude Solutions
- Clearlake, Cove Hill Invests in NetDocuments