Pamplona Capital Management is buying private equity-backed BBB Industries LLC for an undisclosed amount.
BBB, headquartered in Mobile, Alabama, manufactures and distributes car parts, including electrical, brake and power-steering products. The company is backed by private equity firm Windjammer Capital Investors, which is headquartered in Newport Beach, California. The firm has about $2 billion in capital under management. Windjammer is currently investing out of Windjammer Senior Equity Fund IV, which has $725 million in commitments.
London-based Pamplona Capital is a private equity firm that has more than $10 billion in assets under management. The firm is investing out of Pamplona Capital Partners IV LP, which was raised in June. Pamplona’s other investments include Beacon Rail Leasing, Alvogen, a pharmaceutical company, and Magnacare, a health care company.
Chris Williams, Joe Conner and John Arendale from Harris Williams & Co. provided financial advice to BBB on the deal.
Other recent automotive parts deals include United Stationers’ (Nasdaq: USTR) acquisition of Medco, and Trim Parts’ purchase of Mr. Mustang Inc. For more on the auto aftermarket M&A trend, see “Winners of the Auto Aftermarket.”