BOSTON--(BUSINESS WIRE)--Audax Private Equity (“Audax”) has completed the sale of Wheel Pros, LLC (“Wheel Pros”) to Clearlake Capital, a private equity firm based in Santa Monica, CA.
Wheel Pros, headquartered in Denver, CO, is a leading designer, marketer, and distributor of branded aftermarket wheels, performance tires and accessories.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “Wheel Pros is a leader in the automotive aftermarket industry. The Wheel Pros team has demonstrated tremendous success in growing the business, and we wish both the management team and Clearlake Capital continued success.”
Jay Mitchell, Managing Director, Audax Private Equity, said, “Randy White, Jody Groce and the entire team at Wheel Pros did an exceptional job growing the business. The team completed three acquisitions, expanded its distribution footprint, entered into new end markets, and did so while maintaining a relentless focus on service, quality and innovation. We are thankful for their efforts and wish them only the best with Clearlake Capital.”
William Blair served as financial advisor to Wheel Pros and Audax.
About Audax Private Equity
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4.5 billion in 113 platforms and 662 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has over $12 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses.