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Monday, Aug 15, 2022
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Clearlake Capital Doubles Down on Dubs

Santa Monica-based private equity firm Clearlake Capital Group’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.

The deal brings together several leading brands — such as Fuel, KMC, American Racing and Rotiform — under one roof.

The company will operate under the Wheel Pros name, offer 22 brands and produce approximately 3 million wheels combined in 2018.

As part of the transaction, MHT shareholders invested in the combined company Art Hale Jr., founder and chief executive of MHT, will continue to be involved in product design and operations, and be a member of the combined company’s board.

Jody Groce and Randy White, co-founders of Greenwood Village, Colo.-based Wheel Pros, will continue to serve as co-chief executives of the combined company.

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