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Clearlake Capital completes acquisition of BBB Industries

An affiliate of Clearlake Capital Group has acquired BBB Industries (BBB), a sustainable manufacturer of non-discretionary automotive, industrial, energy storage, and solar parts, from Genstar Capital (Genstar).

Duncan Gillis, CEO of BBB, will continue to lead the Company supported by the existing management team. The terms of the transaction were not disclosed.
 
Founded in 1987, BBB has been a pioneer in sustainable manufacturing and the circular economy through its operations, which improve and extend the useful life of critical automotive parts. Historically, BBB specialised in the remanufacturing of non-discretionary parts for the personal and commercial vehicle aftermarket, including starters, alternators, brake calipers, steering products, and turbochargers.  

More recently, the Company has embraced the EV market, starting with electric power steering and continuing with upcycling and increasing the lifespan of EV batteries. Beginning in 2021, BBB further expanded its offering beyond the automotive segment into renewable energy markets via its newly established TerrePower division.
 
BBB joins Clearlake’s growing portfolio of sustainability-related investments, including Alkegen, a manufacturer of high-performance specialty materials designed to save energy and reduce pollution, Gravity, a provider of water recycling and infrastructure solutions to oil and gas companies, as well as IPG, Mold-Rite and Pretium, providers of recyclable packaging solutions for a wide breadth of end markets.

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