Clearlake Capital-Backed Wheel Pros Acquires TeraFlex
CLEARLAKE CAPITAL-BACKED WHEEL PROS ACQUIRES TERAFLEX
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, has acquired TeraFlex, a designer, manufacturer and distributor of aftermarket suspensions, shocks, and other components for automotive and off-roading enthusiasts. TeraFlex's Founder and CEO Mark Falkner, President Benjamin Falkner, and VP of Organizational Development Ian Falkner will remain with the combined company.
"TeraFlex has built an impressive suite of brands and products in the suspension and shock categories that complement our offerings in lift kits extremely well," said Randy White, Co-Founder and CEO, and Brian Henderson, Chief Strategy Officer, at Wheel Pros. "We are excited to partner with Mark, Ben, Ian and the broader TeraFlex team to scale our combined business and continue to expand our suite of aftermarket vehicle enhancements for automotive and off-roading enthusiasts."
"We're excited to join the Wheel Pros organization and leverage their design expertise, scale and operational footprint to accelerate growth," said Mr. Falkner. "We believe we can expand on Wheel Pros' existing footprint in the suspension category, and together, provide automotive enthusiasts with access to a larger suite of aftermarket vehicle enhancements. We look forward to embarking on this next chapter of combined growth."