GREENWOOD VILLAGE, Colorado. and ATLANTA, August 25, 2021 / PRNewswire / – Wheel Pros, a designer, manufacturer and distributor of proprietary aftermarket aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATV / UTVs backed by Clearlake Capital Group, LP (with its subsidiaries, “Clearlake”) and in partnership with management, today announced the signing of a definitive agreement to acquire Driven Lighting Group (“DLG”), a native digital designer and online retailer of automotive lighting products passionate about the aftermarket, from Kian Capital. Financial terms of the transaction were not disclosed.
“We are delighted to welcome DLG, its talented employees and customers to the Wheel Pros family. We are impressed with DLG’s rapid growth and strong market position with brands like Morimoto and online properties like The Retrofit Source and Headlight Revolution, ”said Randy Blanc, co-founder and CEO of Wheel Pros. “We believe the lighting category is a natural extension of our aftermarket vehicle improvement portfolio, and with DLG we can continue to increase the penetration of a great white space opportunity. leverage our scale and infrastructure and work with the DLG team, including Matt Kossoff, product manager and founder of Retrofit Source, and Chris Nelson, Chief Marketing Officer and Founder of Headlight Revolution, to accelerate the growth of the aftermarket enthusiast category. “
Based at Atlanta, Georgia, Driven Lighting Group is a passionate designer, distributor, influencer and online retailer of automotive aftermarket lighting products. DLG has established brands, such as Morimoto and Profile Performance, and in-house product development capabilities that deliver high performance and quality products. DLG’s creative content engine and e-commerce platforms have attracted a large community of enthusiasts and a large customer base ranging from hobbyists to performance-oriented consumers.
“DLG has achieved incredible growth in partnering with Kian Capital over the past few years, expanding our online presence, evolving our operational infrastructure and adding additional adjacent product offerings,” said Brian reese, CEO of DLG. “We are excited to join the Wheel Pros organization and leverage their design expertise, scale and operational footprint to accelerate growth. We have witnessed what they have been able to do in other adjacent categories such as suspension, and together we believe that we can quickly develop the lighting in the large enthusiast market. ”
“Wheel Pros has historically demonstrated its ability to enter new adjoining product categories both organically and through acquisition, and then drive accelerated growth in these new categories. We look forward to welcoming DLG to the Wheel Pros organization and implementing this proven playbook in the enticing passionate lighting segment, ”said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, a partner at Clearlake. “The talented team at DLG has created a high-growth platform with strong digital and direct-to-consumer capabilities, and we look forward to expanding the product line and online presence of the combined Wheel Pros platform through increased investments and using our SPO®framework.”
“DLG has shown exceptional performance since our first partnership with Matt Kossoff and The Retrofit Source over three years ago, and we’re happy we were able to achieve the result the DLG team wanted in terms of finding a home where they believe they can accelerate their rapid trajectory, ”said Rick cravey, co-founder and partner, and Scott Buschmann, partner at Kian Capital. “We are proud to have partnered with DLG during this period of growth and look forward to following the company in its next chapter with Wheel Pros.”
ABOUT THE WHEEL PROS
Founded in 1995, Wheel Pros serves the passionate automotive industry with a wide selection of vehicle upgrades from its portfolio of lifestyle brands, including Fuel-Off-Road, American Racing, KMC, Rotiform and Black Rhino. Using its expanding global network of distribution centers covering North America, Australia and Europe, Wheel Pros serves more than 13,500 retailers and has a growing presence in e-commerce to provide enthusiastic consumers with access to the products they desire. More information is available at www.wheelpros.com.
ABOUT THE DRIVEN LIGHTING GROUP
DLG is the leading designer, distributor, influencer and online retailer of automotive lighting products passionate about the aftermarket. Founded in 2005, DLG established the performance lighting market and is the pioneer in the space. Today, DLG’s premium brand portfolio covers all categories of lighting, including complete sets, bulbs, off-road lighting and accent lighting. The extensive product offerings serve a diverse customer base, which is fueled by its sophisticated digital marketing and white-glove customer service. More information is available at www.drivenlightinggroup.com
Founded in 2006, Clearlake Capital Group, LP is an investment firm operating integrated businesses in private equity, credit and other related strategies. With a sector-based approach, the company seeks to partner with experienced management teams in providing patient and long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, SPO® The main target sectors of the company are technology, industry and consumption. Clearlake currently has approximately $ 39 billion of assets under management, and its principal investment directors have led or co-directed more than 300 investments. The company has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
ABOUT KIAN CAPITAL
Kian is a private investment company with $ 425 million of capital under management and a focus on four core industrial sectors: consumer, services, value-added distribution and specialty manufacturing. Kian’s seasoned investor team has over 80 years of collective experience providing transformational capital solutions and board-level strategic and operational advice to companies operated by their founders / owners. Kian provides flexible financial resources and additional operational power to scale mid-market companies, realize their aspirations and generate long-term returns on investment through true partnership. More information is available at www.kiancapital.com.
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Advantages of the SOURCE wheel; Capital of Clearlake