Genstar Capital, a leading private equity firm focused on investments in targeted segments of the industrial technology, healthcare, financial services, and software industries, announced Thursday the acquisition of BBB Industries LLC.
BBB supplies non-discretionary replacement parts in the North American automotive and heavy-duty aftermarket, primarily focused on the aftermarket and serves vehicle owners, professional technicians and franchised dealers. BBB Industries has a broad product offering, including starters, alternators, hydraulic steering, brake calipers, electric power assisted steering and turbochargers. Its 30,000+ SKUs are sold through warehouse distributors, retail outlets, and OEM service organizations. Founded in 1987, the company is based in Daphne, Ala.
“BBB is an industry leader in the automotive aftermarket with a strong reputation for quality and manufacturing expertise. We believe we can partner with management to expand the product offerings for BBB’s customers through investments in new technologies, capacity expansions, and acquisitions in BBB’s current and adjacent markets. Genstar’s ability to move quickly and to provide growth capital will help to further enhance BBB’s market presence and build on its strong relationships with new and existing customers,” says Rob Rutledge, managing director at Genstar.
Duncan Gillis, CEO of BBB Industries, adds, “Because our products are mission critical to the operation of a vehicle, our key focus is to provide customers with quality, availability, breadth of SKUs, and service. With Genstar’s expertise and history of successfully building companies like ours, we look forward to transforming our company and taking BBB Industries to the next level while continuing to provide our customers with the highest quality products. We very much look forward to this new partnership.”