Wheel Pros Agrees to Acquire Transamerican Auto Parts
Wheel Pros, a designer, manufacturer and distributor of branded aftermarket vehicle parts and accessories for light trucks, SUVs, passenger cars, ATVs and UTVs, and its backers, Clearlake Capital Group, have entered into a definitive agreement to acquire Transamerican Auto Parts (TAP) from Polaris, the company announced.
TAP is a manufacturer, distributor, retailer and installer of off-road Jeep and light truck parts and accessories. In 2021, TAP generated nearly $760 million in revenue, the company said.
Headquartered in Compton, California, TAP is the parent company of six aftermarket brands: SMITTYBILT, PRO COMP, RUBICON EXPRESS, POISON SPYDER, G2 and 4WP FACTORY. TAP’s platform operates under the 4 Wheel Parts brand, and serves automotive and off-roading enthusiasts through retail, eCommerce and wholesale, the company said. The company has a growing online presence via 4WheelParts.com and 4WD.com, and TAP’s integrated platform enables buy online, pick-up, and install in store.
“We are thrilled to combine with TAP and build a vertically integrated omnichannel platform for aftermarket automotive enhancements across a wide range of vehicles,” said Randy White, co-founder and CEO, and Brian Henderson, chief strategy officer, at Wheel Pros. “TAP’s extensive product portfolio, proprietary brands, manufacturing capabilities, and omnichannel platform have resulted in an automotive and off-roading enthusiast following that we have long admired. We look forward to working with the TAP team as we undertake new initiatives to accelerate the growth of the combined business and continue to drive value for our customers, suppliers, and partners.”
“TAP is a scaled player in the aftermarket automotive industry, and the combination with Wheel Pros creates a vertically integrated omnichannel platform that better serves automotive and off-roading enthusiasts,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. “We look forward to continuing to leverage our O.P.S.® framework in partnership with the Wheel Pros team to drive both organic and inorganic growth as the company builds upon its position as a premier automotive aftermarket enthusiast platform.”
The transaction is expected to close early in the third quarter, the company said.
