Sustainable manufacturer BBB Industries announced that has agreed to be acquired by a private equity firm.
Clearlake Capital Group will lead the acquisition and be the majority shareholder in the company. There will also be investments by another private equity company, Genstar Capital and BBB’s management team.
Terms of the deal were not disclosed. The transaction is expected to close later this year pending customary closing conditions
BBB manufactures starters, alternators, hydraulic and air disc brake calipers, hydraulic and electronic power steering products, and turbochargers for the OEM, passenger, industrial, and commercial vehicle aftermarket industries. It does business in 64 countries through 5 divisions with multiple sustainable manufacturing facilities and distribution centers located throughout North America and Europe
“I have long admired Clearlake’s strong record of success and look forward to partnering with the team as we continue the company’s evolution,” said Duncan Gillis, CEO of BBB. “I thank Genstar for their great partnership over these past years and for continuing to demonstrate confidence in BBB with their ongoing investment in the company.”