Atlantic Street Capital Announces Sale of All Star Auto Parts

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

SOURCE Atlantic Street Capital