All Star Auto Parts
Atlantic Street Capital, a private equity firm specializing in lower middle market companies, announced the sale of All Star Auto Parts to BBB Industries.
All Star Auto Parts, headquartered in Orlando, Florida, is a distributor of alternative automotive replacement parts, including remanufactured OEM and aftermarket lights and wheels. The company serves the U.S. collision repair and tire service channels through a network of 13 facilities nationwide.
Atlantic Street acquired All Star in 2019, initially focusing on alternative lighting products. Under Atlantic Street’s ownership, All Star expanded its product offerings to include remanufactured and aftermarket parts.
Andrew Sexton, CEO of All Star, commented, “We provide value-added, quality products and service to our customers while at the same time extending the useful product life cycle. Through our sustainable remanufacturing model, we also help prevent materials from entering the waste stream. Atlantic Street has been a terrific partner over the past five years as we transformed the business and we look forward to being a key division of BBB Industries.”
Phil Druce, partner at Atlantic Street, said, “Our goal was to help transform All Star through strategic acquisitions and to expand its product portfolio and build its geographic reach, creating a nationwide footprint to service local shops and provide a one-stop solution for national multi-shop operators. We thank All Star’s entire management team and founder Matt Immerfall for their strategic vision and leadership over the past five years and believe the company will continue to thrive and evolve as part of BBB Industries.”
Matt Immerfall, founder and former CEO of All Star who served as a strategic advisor to the company during its transformation, added, “We are very proud of All Star’s success over the past 20 years and it was a significant opportunity to partner with Atlantic Street in 2019. Their strategic guidance and capital resources helped guide our investments in systems to enhance data quality and provide robust business intelligence, expand facilities, and invest in people to build the organization and functional leadership. We thank them for their great partnership and confidence in the business.”
BlackArch Partners served as the lead financial advisor, with Schwartz Advisors as co-advisor and Kramer Levin Naftalis & Frankel LLP as legal counsel.
The terms of the transaction were not disclosed.
