Alloy Wheel Repair Specialists, a portfolio company of Soundcore Capital Partners LLC, has completed four bolt-on acquisitions. It did not name the targets but said the four acquisitions serve more than 200 major dealers and auto repair shops. Financial terms weren’t disclosed. The acquisitions are located in Westchester, New York; Newtown, Connecticut; Danbury, Connecticut; and Las Vegas. Atlanta-based Alloy Wheel is a full-service alloy wheel repair and replacement company
NEW YORK—April 5, 2016—Soundcore Capital Partners, LLC (“Soundcore”), a control-oriented, New York-based private equity firm that invests in lower middle market businesses, today announced that it has completed four bolt-on acquisitions for its portfolio company, Alloy Wheel Repair Specialists (“AWRS” or “the Company”). The acquisitions are located in Westchester, NY; Newtown, CT; Danbury, CT; and Las Vegas. Terms of the private transactions were not disclosed. “We continue to pursue an aggressive acquisition strategy for AWRS, and are ahead of our expected pace at this stage,” said Jarrett Turner, Founder and Managing Partner of Soundcore. “We are starting to see our vision for AWRS come together as we successfully integrate stable, cash-generating tuck-in acquisitions that we are able to purchase at attractive valuations.” The four acquisitions serve more than 200 major dealers and auto repair shops, and have collectively grown sales at over 20% per year. “With these acquisitions, AWRS is quickly realizing its goal of becoming a cornerstone in the U.S. auto aftermarket industry,” said Feliks Zarotsky, Partner at Soundcore. “We look forward to working with management to enhance the service and financial performance of the new locations.” Soundcore has also closed on a $42.5 million credit facility for Alloy Wheel Repair Specialists with Monroe Capital LLC. This credit facility will help AWRS continue its momentum through acquisition of additional proven operations across the U.S.
About Soundcore Capital Partners
Soundcore Capital Partners, founded in 2015, is a New York City-based private investment firm specializing in control equity investments and leveraged buyouts of lower middle market North American (US or Canada) headquartered businesses that have proven franchises. The firm partners with exceptional management teams to create long-term value for investors through a combination of operational improvements, internal growth initiatives, and strategic acquisitions. Soundcore is particularly interested in businesses whose management team members and/or selling shareholders wish to have a meaningful ownership stake in the newly acquired enterprise. The firm focuses on proprietary deal sourcing through industry relationships and proactive outreach rather than traditional bank auction processes. For additional information on Soundcore Capital Partners, please visit www.soundcorecap.com
About Alloy Wheel Repair Specialists
Alloy Wheel Repair Specialists, founded in 2001 in Atlanta, Georgia, has grown into the world’s largest full-service alloy wheel repair and replacement company. Our business consists of hundreds of professional, experienced, operators and technicians who provide expert wheel repair and replacement around the globe. Alloy and its franchisees currently operate in 47 states and 15 countries, and the company is rapidly expanding its geographical footprint domestically and internationally to meet the growing demand for full-service alloy wheel repair services. For more information, visit http://www.awrswheelrepair.com