Fox Factory Acquires Custom Wheel House
Fox Factory has signed an agreement to acquire Custom Wheel House, a family of brands that includes Method Race Wheels, Tensor Tire and GMZ Race Products, from Thompson Street Capital Partners and other sellers, the company announced.
The purchase price for the transaction, which is subject to customary adjustments, is valued at $131.6 million, the company said. The transaction is expected to close late in the first quarter of 2023.
CWH, based out of Rancho Dominguez, California, designs, markets, and distributes high-performance wheels, performance off-road tires, and accessories, and includes brands Method Race Wheels, Tensor Tire and GMZ Race Products, which are geared towards the manufacturing and distribution of off-road performance products for automotive, truck, and utility vehicles. The acquisition is complementary to Fox Factory’s upfitting and lift kit business and further broadens its product offering in the segment, Fox Factory representatives said.
“We are excited to announce the acquisition of Custom Wheel House, and believe it presents a substantial vertical integration and collaborative opportunity for FOX. This will further expand our performance-defining aftermarket solutions with the additions of high-performance wheels and performance off-road tires,” said Mike Dennison, Fox’s Chief Executive Officer. “When pushing the limits of ride dynamics, expanding the Company’s expertise from suspension to wheels and tires is a natural evolution. We welcome the experienced Custom Wheel House leadership team and believe they will play an integral part in the Company’s growth going forward.”