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).
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.
Read more: Private Equity Wire
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