BBB To Be Acquired By Clearlake

DAPHNE, Ala. — Daphne’s BBB Industries, LLC, a sustainable automotive aftermarket manufacturer, has entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P., with continued investment by Genstar Capital and BBB’s management team, the companies announced. Upon closing the transaction, Clearlake will become majority shareholders of BBB. BBB, founded in 1987, does business in 64 countries through five divisions with multiple sustainable manufacturing facilities and distribution centers throughout North America and Europe. Financial terms of the transaction, which is expected to close later this year, were not disclosed. "We have increasingly deepened our knowledge of, and relationship with, BBB over the past several years and have been impressed with the company’s development," said José E. Feliciano, co-founder and managing partner of Clearlake. “We see a significant opportunity to partner with BBB’s management team to build upon their core business, as well as several compelling growth areas across the automotive and broader industrial and renewable energy ecosystems.”