(PRNewsfoto/Clearlake Capital Group,BBB Industries, LLC)
BBB Industries announced it has entered into a definitive agreement to acquire All Star Auto Parts, according to a news release.
Terms of the transaction, expected to close in the third quarter, were not disclosed.
Headquartered in Orlando, Florida, All Star is a growth-oriented provider of alternative automotive replacement parts, including both remanufactured OEM and aftermarket lights and wheels. All Star primarily focuses on the U.S. collision repair channel, which it serves through its nationwide distribution network.
“All Star will strengthen our electronics offering and will allow us to provide additional product and service options, and we are thrilled at the prospect of welcoming the All Star team to BBB,” said Duncan Gillis, CEO of BBB. “Our goal is to continue to spread the power of sustainable manufacturing at scale to deliver even greater value to the markets we serve, and we are excited about the growth opportunities that lie ahead.”
“The acquisition of All Star will be an exciting development for BBB as we continue to build upon the company’s foundation in sustainable manufacturing and accelerate both product and end-market diversification,” said José E. Feliciano, co-founder and managing partner, and Colin Leonard, partner and managing director at Clearlake Capital Group, which owns BBB.
“This acquisition showcases our O.P.S. value creation framework in action as we continue to pursue accelerated growth through both organic initiatives and strategic M&A,” added Ben Kruger, principal at Clearlake.
