DAPHNE,
Ala., July 17, 2023 /PRNewswire/ -- BBB
Industries, LLC (BBB), a leading sustainable manufacturer serving
automotive, industrial, energy storage, and solar markets, backed
by Clearlake Capital Group, L.P. (Clearlake), announced today that it has
acquired Hydraulex, a provider of critical, need-it-now hydraulic
solutions serving the industrial aftermarket. Terms of the deal
were not announced.
This strategic acquisition marks an important milestone in BBB's
journey as it further expands the company's offerings into an array
of industrial markets. Hydraulex's history of providing repair and
remanufacturing of aftermarket hydraulic components for both mobile
and fixed applications aligns with BBB's commitment to sustainable
manufacturing in support of efficient resource management and
reduced total cost of ownership.
"We are thrilled to welcome Hydraulex into the BBB enterprise,"
said Duncan Gillis, CEO of BBB.
"This acquisition opens opportunities to provide our customers with
additional product and service options. Our goal is to continue to
spread the power of sustainable manufacturing at scale to deliver
even greater value to our customers, and we are excited about the
opportunities that lie ahead."
"The acquisition of Hydraulex is an exciting development for BBB
as we build upon the company's foundation in sustainable
manufacturing and expand into adjacent industrial end-markets,"
said José E. Feliciano, Co-Founder and Managing Partner, and
Colin Leonard, Partner and Managing
Director, at Clearlake.
"This acquisition, our second since partnering with Duncan and
the BBB team last year, represents our O.P.S.® framework
in action as we pursue accelerated growth through both organic
initiatives and strategic M&A," added Ben Kruger, Senior Vice President at
Clearlake.
With a four-decade legacy of manufacturing excellence,
Hydraulex's products power critical equipment spanning across
infrastructure, industrial, construction, agriculture, mining,
on-highway and marine equipment end-markets.
About BBB Industries
BBB Industries, LLC is a leading
sustainable manufacturer serving the automotive, industrial, and
renewable energy markets. With an extensive footprint and
operations throughout North
America, BBB entered the European market in 2020 and now
sustainably manufactures and supplies an assortment of
nondiscretionary repair parts across more than 90 countries.
TerrePower is a division of BBB that services the electric vehicle,
energy storage and solar markets across both North America and Europe. Founded in 1987, BBB Industries, LLC
is a private company with corporate centers located in the greater
Mobile, Alabama and Dallas, Texas areas. Please see
www.bbbind.com for more information.
About Clearlake
Clearlake Capital Group, L.P.
is an investment firm founded in 2006 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 $70 billion of assets under management and its
senior investment principals have led or co-led over 400
investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK, Dublin,
Ireland and Singapore. More
information is available at www.clearlake.com and on Twitter
@Clearlake.
BBB Industries Contact:
Denise
Seale
Director - Corporate Communications and Government Affairs
+1-251-438-2737
dseale@bbbind.com
www.bbbind.com
Clearlake Contact:
Jennifer Hurson
Lambert
+1-845-507-0571
jhurson@lambert.com
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SOURCE BBB Industries; Clearlake Capital Group