Windjammer Capital Investors ("Windjammer") is pleased to announce it has sold BBB Industries, LLC ("BBB" or the "Company") to Pamplona Capital Management, LLP ("Pamplona"). Terms of the transaction were not disclosed.
Founded in 1987 and headquartered in Mobile, Alabama, BBB is a leading manufacturer of application specific automotive aftermarket parts for the North American market. In June 2007, Windjammer partnered with the BBB management team to acquire BBB. During Windjammer's ownership period, the BBB management team has created significant growth through acquisitions, the expansion of new distribution channels and new product development.
Derek Watson, Managing Director of Windjammer, commented, "BBB's management team has done a wonderful job. The business has grown dramatically during our ownership and has become a leading automotive aftermarket supplier. The key to the Company's success has been its unrelenting corporate culture of supporting the goals and growth of its customers. BBB is well positioned to continue on its growth trajectory with the support of Pamplona."
Joe Felicelli, CEO of BBB, commented, "We are very appreciative for the guidance provided by Windjammer over the years. Their commitment to understanding the dynamics of our business and the financial support to help fund growth brings us to this point in our development. Without them we would not be in the situation we are today; ready to embark on the next stage in the growth of our Company and our people."
Don Bigler, Chairman and Co-Founder of BBB, added, "We would not have grown our company to the status it is today without the financial help and encouragement from the Windjammer people. They are a great partner."
Harris Williams & Co. acted as the financial advisor to BBB, and Kirkland & Ellis LLP provided legal counsel.
ABOUT BBB INDUSTRIES
BBB Industries, LLC is an industry leader in the remanufacturing of alternators and starters to the automotive, medium and heavy-duty truck, industrial, agriculture, small engine and other markets. The Company's undercar division remanufactures power steering products for the automotive original equipment manufacturers and aftermarkets. In addition, the company remanufactures brake calipers for automotive, light duty and medium duty applications. Headquartered in Mobile, Alabama, BBB Industries is committed to producing products with the right fit, at the right price and at the right time. BBB Industries supplies superior-quality products through a network of more than 1,000 dealer locations. Additional information is available at www.bbbind.com.
About Windjammer
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle‐market businesses and in partnership with management. Windjammer manages over $2 billion of committed capital with respect to its control equity investment strategy, and since its founding in 1990, has completed over 50 platform acquisitions and over 100 strategic add‐ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance.
If you have any questions related to this transaction, please contact Derek Watson (949-720-4201).