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 IndustriesBBB 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 ClearlakeClearlake 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
[email protected]
www.bbbind.com
Clearlake Contact:
Jennifer Hurson
Lambert
+1-845-507-0571
[email protected]com
SOURCE BBB Industries; Clearlake Capital Group
