Genstar Capital said Aug. 2 that it acquired BBB Industries LLC. Financial terms weren’t announced. BBB, of Daphne, Alabama, is an automotive aftermarket supplier. UBS Investment Bank and Latham & Watkins LLP advised Genstar.
Genstar Capital Announces the Acquisition of BBB Industries
Genstar to Partner with Management to Drive Growth and Expand New Product Technologies, Further Enhancing BBB Industries’ Leading Role as a Supplier in the Automotive Aftermarket
SAN FRANCISCO, August 2, 2018 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the industrial technology, healthcare, financial services, and software industries, today announced the acquisition of BBB Industries, LLC, an industry leader in the automotive aftermarket.
BBB supplies non-discretionary replacement parts in the North American automotive aftermarket, primarily focused on the do-it-for-me (“DIFM”) light vehicle aftermarket and serves vehicle owners, professional technicians and franchised dealers. BBB Industries has a broad product offering, including starters, alternators, hydraulic steering, brake calipers, electric power assisted steering (“EPAS”) and turbochargers. Its 30,000+ SKUs are sold through warehouse distributors, retail outlets, and OEM service organizations. Founded in 1987, the company is based in Daphne, AL.
Rob Rutledge, Managing Director, said, “BBB is an industry leader in the automotive aftermarket with a strong reputation for quality and manufacturing expertise. We believe we can partner with management to expand the product offerings for BBB’s customers through investments in new technologies, capacity expansions, and acquisitions in BBB’s current and adjacent markets. Genstar’s ability to move quickly and to provide growth capital will help to further enhance BBB’s market presence and build on its strong relationships with new and existing customers.”
Duncan Gillis, CEO of BBB Industries, said, “Because our products are mission critical to the operation of a vehicle, our key focus is to provide customers with quality, availability, breadth of SKUs, and service. With Genstar’s expertise and history of successfully building companies like ours, we look forward to transforming our company and taking BBB Industries to the next level while continuing to provide our customers with the highest quality products. We very much look forward to this new partnership.”
Genstar was advised by UBS Investment Bank and Latham & Watkins LLP in connection with the transaction.
About BBB Industries
BBB Industries, LLC is an industry leader in the remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. BBB takes pride in producing the highest quality products in the industry with exacting standards that apply to customer service, the manufacturing process, product installation and to the performance on the vehicle. Automated test fixtures test every unit manufactured by BBB to meet or exceed OE specifications. Founded in 1987, BBB Industries, LLC is a private company headquartered in Daphne, Alabama. Please seewww.bbbind.com for more information.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion in assets under management and targets investments focused on targeted segments of the industrial technology, healthcare, financial services and software industries.