Santa Monica Private Equity Firm Clearlake Forms Largest Custom Wheel Company

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 pmaio@labusinessjournal.com or (323) 556-8329

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