Wynnchurch Capital has acquired Ontario, California-based The Wheel Group, a provider of branded aftermarket wheels, specialty tires, and related accessories serving the truck, SUV and car markets. No financial terms were disclosed.
Wynnchurch Capital, L.P. (“Wynnchurch”) announced today that it has acquired The Wheel Group (“TWG” or the “Company”). The Wheel Group is a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories serving the truck, SUV and car markets. Founded in 1997, the Company offers 16 proprietary brands and serves its customers through 20 sales and distribution centers located throughout the U.S. and Canada. TWG is well-positioned to benefit from growing automotive aftermarket demand, particularly in enthusiast-oriented wheel, specialty tire, and accessory categories.
“The Wheel Group has grown into a leading automotive aftermarket business based on our best-in-class customer service, product offering and technical expertise. We look forward to working with Wynnchurch to accelerate our business plan and growth,” said David Williams, CEO of TWG.
Frank Hayes, Managing Partner at Wynnchurch, said, “TWG is a tremendous new platform investment opportunity for Wynnchurch. We are thrilled to partner with such a strong and experienced group of executives who have built a market leading performer. The Company fits exceptionally well with our philosophy of investing in businesses that offer a strong value proposition to their customers, possess a differentiated business model and have significant growth potential.”
Neel Mayenkar, Managing Director at Wynnchurch, added, “The Wheel Group has built a strong reputation based on a portfolio of proprietary brands, high-quality products, and best-in-class sourcing capabilities. We are excited to partner with management and help facilitate the Company’s next stage of growth.”
Wynnchurch Capital is actively seeking investment opportunities for its $2.277 billion Fund V. In September 2020, Wynnchurch made its first Fund V platform equity investment when it acquired Labrie Environmental Group, a leading manufacturer of refuse collection vehicles across North America. Other recent Wynnchurch investments include: Insulation Corporation of America, a manufacturer of EPS foam products; Huntington Foam, a provider of custom EPS, EPP and ARCEL product; Drew Foam, a manufacturer of custom EPS block and shape molding products; and Pennsylvania Machine Works, a fully integrated manufacturer of high pressure forged fittings and branch connections.
About The Wheel Group:
Founded in 1997 and based in Ontario, California, TWG is a leading designer and distributor of branded aftermarket wheels, specialty tires and related accessories serving the truck, SUV, and car markets. The Company sells to over 8,000 active customers including independent installers, national & regional retailers, e-commerce retailers, and wholesale distributors. For more information, please visit: https://www.thewheelgroup.com.
About Wynnchurch Capital:
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an office in California and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: https://www.wynnchurch.com.