CLEARLAKE CAPITAL-BACKED WHEEL PROS ACQUIRES THROTL
Strategic Acquisition Strengthens Wheel Pros’ Digital Platform for Automotive Enthusiasts
GREENWOOD VILLAGE, CO and SAN DIEGO, CA – January 6, 2021 – Wheel Pros, a designer, manufacturer and distributor of proprietary branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and in partnership with management, today announced it has acquired throtl, an aftermarket e-commerce platform for automotive and off-roading enthusiasts. throtl’s Rick Beckerman, Co-Founder and CEO, Evan Beckerman, Co-Founder and COO, and Erol Erturk, Co-Founder and CTO, will remain with the combined company. Financial terms of the transaction were not disclosed.
“We are excited to welcome throtl’s talented employees and loyal enthusiast following to the Wheel Pros family,” said Randy White, Co-Founder and CEO, and Brian Henderson, Chief Strategy Officer, at Wheel Pros. “throtl has built an incredible digital destination for automotive enthusiasts with an innovative approach of utilizing content to drive commerce. We look forward to working with Rick, Evan and Erol to scale our combined business and continue to grow our digital enterprise for the automotive aftermarket.”
Headquartered in San Diego, California, throtl is a digital destination for automotive and off-roading enthusiasts. By using its connections with automotive influencers and access to a virtual library of digital content, throtl has created a community gathering spot and home that enables automotive and off-roading enthusiasts. throtl also empowers the buying power and convenience for its followers by offering a suite of aftermarket performance product offerings through their online throtl marketplace.
“Our partnership with Wheel Pros marks a truly monumental moment for our joint businesses,” said Rick and Evan Beckerman. “Together we will be able to provide automotive enthusiasts with access to a suite of digital content and aftermarket vehicle enhancements, so they are equipped with more information and new ways to interact with their vehicles. We look forward to continuing to put our community of auto enthusiasts first as we embark on this next chapter of growth.”
“We are impressed with the digital media and e-commerce platform throtl has built to support a dedicated community of automotive enthusiasts,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. “Wheel Pros has a track record of adding value to brands post-merger, and the combination with throtl will strengthen Wheel Pros’ digital and direct-to-consumer capabilities. We look forward to leveraging our O.P.S.® framework and continuing to invest in the Wheel Pros platform to expand its product breadth and online presence.”
“throtl has built a next-generation technology platform that enables the modern digitally-native enthusiast to discover and shop for their vehicle and we’re thrilled to bring their capabilities to Wheel Pros,” added Dilshat Erkin, a Vice President at Clearlake. “throtl marks Wheel Pros’ third acquisition in the last six months, and along with the other two acquisitions of Hoonigan and Driven Lighting Group, continues Wheel Pros’ expansion of its digital presence and capabilities.”
ABOUT WHEEL PROS
Founded in 1995, Wheel Pros serves the automotive enthusiast industry with a wide selection of vehicle enhancements from its portfolio of lifestyle brands, including Fuel-Off-Road, American Racing, KMC, Rotiform and Black Rhino. Utilizing its expanding global network of distribution centers spanning North America, Australia and Europe, Wheel Pros serves over 13,500 retailers and has a growing ecommerce presence to provide enthusiast consumers with access to the products they desire. More information is available at www.wheelpros.com.
ABOUT THROTL
throtl is a one-stop-shop for auto enthusiasts. Reaching millions of people through a library of digital content carefully curated by throtl’s automotive influencers, the Company is injecting a spark into the aftermarket automotive industry. The throtl marketplace empowers auto enthusiasts with the most comprehensive suite of products for their aftermarket performance part needs. More information is available at www.throtl.com.
ABOUT CLEARLAKE
Founded in 2006, Clearlake Capital Group, L.P. is an firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $55 billion assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Contact
For Wheel Pros:
Max Krapff
Backbone Media
970.658.5252 ext. 1174
For Clearlake:
Jennifer Hurson
Lambert & Co.
+1 845-507-0571
