Deal Details

Polaris Sells TAP to Wheel Pros

Industrial

Polaris, sale of TAP to Wheel Pros, a portfolio company of Clearlake

Summary

Polaris, Inc. (“Polaris”) (NYSE: PII) has entered into a definitive agreement to divest Transamerican Auto Parts (“TAP” or the “Company”) to Wheel Pros, a portfolio company of Clearlake Capital Group, L.P. (“Clearlake”). The transaction is expected to close in early Q3 2022, subject to customary closing conditions.

Baird served as exclusive financial advisor to Polaris, Inc. on this transaction.

About

Polaris pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since its founding in 1954. With annual 2021 sales of $8.2 billion, Polaris’ high-quality product line-up includes the Polaris RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments, and accessories. Proudly headquartered in Medina, Minnesota, Polaris serves more than 100 countries across the globe.

TAP sells and installs an extensive line of parts and accessories for Jeep and truck enthusiasts, including products manufactured under its six proprietary aftermarket brands: SMITTYBILT®, PRO COMP®, RUBICON EXPRESS, POISON SPYDER™, G2™, and 4WP FACTORY. TAP’s omnichannel platform operates under the 4 WHEEL PARTS brand, and serves automotive and off-roading enthusiasts through retail, eCommerce, and wholesale. The Company has a growing online presence via 4WheelParts.com and 4WD.com, and TAP's integrated platform enables buy online, pick-up, and install in store. TAP is headquartered in Compton, California.

Wheel Pros serves the automotive enthusiast industry with a wide selection of vehicle enhancements from its portfolio of lifestyle brands, including Fuel-Off-Road, American Racing, KMC, Rotiform and Black Rhino. Utilizing its expanding global network of distribution centers spanning North America, Australia and Europe, Wheel Pros serves over 13,500 retailers and has a growing ecommerce presence to provide enthusiast consumers with access to the products they desire. Wheel Pros is headquartered in Greenwood Village, Colorado.

Clearlake 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 management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Clearlake is headquartered in Santa Monica, California with affiliates in Dallas, Texas, London, the United Kingdom and Dublin, Ireland.

Industrial

Polaris, sale of TAP to Wheel Pros, a portfolio company of Clearlake