NEW
YORK, Aug. 20, 2024 /PRNewswire/ -- Atlantic
Street Capital ("Atlantic Street" or "ASC"), a private equity firm
that invests in lower middle market companies through an
operationally intensive strategy, today announced it has completed
the sale of All Star Auto Parts, a specialty distributor of
alternative automotive parts, to BBB Industries. Terms of the
transaction were not disclosed.
Headquartered in Orlando, FL, All Star is a growth-oriented
provider of alternative automotive replacement parts including both
remanufactured OEM and aftermarket lights and wheels. All Star
primarily focuses on the U.S. collision repair and tire service
channels, which it serves through a nationwide distribution network
of 13 facilities.
Atlantic Street acquired All Star in 2019 when the company's
business focused solely on alternative lighting products. Through
significant initiatives and acquisitions, All Star expanded into
related remanufactured and aftermarket parts, transforming the
company beyond its traditional auto lights business.
Andrew Sexton, Chief Executive
Officer of All Star, commented, "We provide value-added, quality
products and service to our customers while at the same time
extending the useful product life cycle. Through our sustainable
remanufacturing model, we also help prevent materials from entering
the waste stream. Atlantic Street has been a terrific partner over
the past five years as we transformed the business and we look
forward to being a key division of BBB Industries."
Phil Druce, Partner of Atlantic
Street Capital, said, "Our goal was to help transform All Star
through strategic acquisitions and to expand its product portfolio
and build its geographic reach, creating a nationwide footprint to
service local shops and provide a one-stop solution for national
multi-shop operators. We thank All Star's entire management team
and founder Matt Immerfall for their
strategic vision and leadership over the past five years and
believe the company will continue to thrive and evolve as part of
BBB Industries."
Matt Immerfall, founder and
former CEO of All Star who served as a strategic advisor to the
company during its transformation, added, "We are very proud of All
Star's success over the past 20 years and it was a significant
opportunity to partner with Atlantic Street in 2019. Their
strategic guidance and capital resources helped guide our
investments in systems to enhance data quality and provide robust
business intelligence, expand facilities, and invest in people to
build the organization and functional leadership. We thank them for
their great partnership and confidence in the business."
BlackArch Partners served as lead financial advisor and Schwartz
Advisors acted as co-advisor to All Star and Kramer Levin Naftalis & Frankel LLP served
as legal counsel.
About All Star Auto Parts
Founded in 2004 and headquartered in Orlando, FL, All Star is a leading distributor
and remanufacturer of replacement lights and wheels. The Company
offers more than 20,000 unique like-kind-and-quality remanufactured
OEM and certified aftermarket parts, including headlights,
taillights, fog lights, mirrors, alloy wheels and steel wheels for
foreign and domestic vehicles. The Company primarily serves
independent auto body shops and multi-site operators in
the U.S. collision repair and tire service channels through a
nationwide network of thirteen facilities. For more information,
visit www.allstarautoparts.com.
About Atlantic Street Capital
ASC is a private equity firm that invests in lower middle market
companies poised for the next level of growth. The firm targets
entrepreneurial management partners and fundamentally sound
companies between $4 million and
$25 million of EBITDA that will
benefit from capital investment and ASC's value-added strategic and
operational support. As a result, ASC works closely with management
to unlock their business' underlying value and help them succeed.
For more information, visit www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Atlantic Street Capital