Leading High Performance Wheel Brands Are United in Single Powerhouse Company
LOS
ANGELES (May 9, 2008) – Platinum Equity announced today the
integration of American Racing and Wheel Pros, two leading distributors
of high performance wheels and tires to the automotive
aftermarket.
The combined company will offer a
comprehensive portfolio of wheel products comprising the
industry’s best known and most enduring wheel brands,
including the full lineup of existing American Racing and Wheel Pros
products.
“This is an incredibly
powerful combination that unites two of the best names in the
business,” said Rob Joubran, partner at Platinum Equity.
“The pedigree of these two companies is unparalleled.
Bringing them together under one roof will provide customers one-stop
access to the best brands in the industry.”
Randy
White, a former American Racing executive who co-founded Wheel Pros in
1994, has been named Chief Executive Officer of the new company. Jody
Groce, also a co-founder of Wheel Pros, has been named
President.
“This merger brings together
two leading companies that deliver world-class products and
services,” Mr. White said. “Together, we have more
than two dozen brands and programs serving 25,000 customers in over 30
countries on six continents.”
“Our
customers will now have access to a single provider with an exceptional
inventory of in-demand wheel products, a larger and more capable
distribution network, and a diversity of product choices that represent
the best-known wheel brands in the industry,” he
said.
The integrated distribution company will
operate under the Wheel Pros name in the United States, and as American
Racing overseas. It will continue to distribute product brands
currently offered by the two companies, including:
Wheel Products:
- American Racing
- American Racing Pro Series
- American Racing Vintage
- American Racing ATX Series
- Alba
- Asanti
- Autocouture
- Boyd Coddington Wheels
- Carroll Shelby Legend Series
- Dale Earnhardt Jr. Signature Series
- Diamo
- Dropstars
- Helo
- Ice Metal
- KMC Wheels
- Lexani
- Lorenzo
- Motegi Racing
- Moto Metal Custom Alloys
- OE Creations
- Poison Spyder Customs
- QT
- Twenty Inches Strong
- Venti and Venti Plus
- Weld Racing
- XD Series
Tire Products:
- BFGoodrich
- Falken
- Michelin
- Nitto Tire
- Pirelli
- Sumitomo Tire
Platinum
Equity acquired American Racing, the largest manufacturer and
distributor of high performance aftermarket automotive wheels in North
America, in July 2005. The firm acquired Wheel Pros, a leading
competitor in the space, in March 2008.
About Platinum Equity
Platinum
Equity (www.platinumequity.com) is a global
M&A&O® firm specializing in the merger,
acquisition and operation of companies that provide services and
solutions to customers in a broad range of business markets, including
information technology, telecommunications, logistics, metals services,
manufacturing and distribution. Since its founding in 1995 by Tom
Gores, Platinum Equity has completed more than 80 acquisitions with
more than $24 billion in aggregate annual revenue at the time of
acquisition.