Denver, CO, May 3, 2022 — The Forbes M+A Group (“Forbes”), a leading investment bank, is pleased to announce it has served as exclusive financial advisor to TeraFlex, a West Jordan, Utah-based designer, manufacturer and distributor of aftermarket suspensions, shocks, and other components for automotive and off-roading enthusiasts, on its sale to Wheel Pros LLC. (“Wheel Pros”) a Denver-based designer, manufacturer, and distributor of proprietary branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs backed by Clearlake Capital Group, L.P.
“We were looking for an industry acquirer who could capitalize on the amazing market position we had secured and continue our legacy,” said Mark Falkner, Founder and CEO of TeraFlex. “Forbes did a superb job strategically positioning us, securing the best possible buyer in Wheel Pros, and negotiating a great deal for us. They also helped us maintain our focus on continuing to grow the business by completing the entire process in a very short timeframe.”
“TeraFlex has built an impressive suite of brands and products in the suspension and shock categories that complement our offerings in lift kits extremely well,” said Randy White, Co-Founder and CEO, and Brian Henderson, Chief Strategy Officer, at Wheel Pros. “We are excited to partner with Mark, Ben, Ian and the broader TeraFlex team to scale our combined business and continue to expand our suite of aftermarket vehicle enhancements for automotive and off-roading enthusiasts.”
The Forbes’ team was led by managing directors Steve Quisenberry and James Morgan, along with senior associate Cassie Dobos and analyst Josh Goodman.
“Strong brands in power sports, offroad, aftermarket automotive, outdoor gear, and other recreation and leisure consumer product sectors are hot right now with investors and acquirers, particularly brands within a niche market leader like TeraFlex,” said Steve Quisenberry, Managing Director at Forbes. “We are thrilled with the outcome for Mark and his team and looking forward to watching TeraFlex’s continue success within the Wheel Pros and Clearlake family.”
TeraFlex manufactures components for the Jeep Wrangler including premium suspension systems and performance shocks, heavy-duty axles and low-range gearing, body armor, and more. With their roots dating back to the 1950s beginning as MEPCO (Military Equipment Parts Company), a distributor of Jeep parts and accessories, they have gained a vast knowledge of the various CJ/Wrangler platforms. TeraFlex continues its stronghold on the Jeep market offering the most comprehensive lineup of performance components for the JK Wrangler and JKU Wrangler Unlimited compared to any other competitor to date.
About Wheel Pros LLC
Wheel Pros is the industry’s leader of new wheel, tire, and suspension products for all types of vehicles beginning in 1996. Colorado-based Wheel Pros is the only branded automotive aftermarket
wheel supplier with cast wheel manufacturing capabilities in the U.S. Wheel Pros designs, manufactures and distributes branded automotive aftermarket wheels, performance tires and accessories.
The Forbes M+A Group, founded in 2004, with offices in Denver, CO, Salt Lake City, UT, and Nashville, TN, is an award-winning investment bank with expertise in mergers and acquisitions, raising capital, and financial restructuring within the middle market. Senior advisors at The Forbes M+A Group have 250+ years and $85+ billion of combined transaction experience across a wide variety of industries and around the globe. The Forbes M+A Group has been recognized regionally as the M&A Firm of the Year for the past seven years. For more information regarding this transaction, contact Steve Quisenberry at steve.quisenberry@bill-nackforbesma-com
For more information about this and other transactions, contact The Forbes M+A Team.