Octopus Electric Vehicles, part of the Octopus Energy Group, has agreed a deal for £150 million of funding from Pollen Street as it continues to offer the best value package for drivers making the switch to an electric car.   

The deal takes Octopus’ total EV funding raised to more than £650 million in just two years. Collectively, these cars will save more than 32,000 tonnes of CO2 per year while on the road  – the equivalent of removing more than 11,500 fossil fuel cars.

The funds will primarily finance Octopus’ flagship EV salary sacrifice offer, which was launched in 2021. Like cycle-to-work but for cars, Octopus’s salary sacrifice helps drivers save 30-40% every month on a brand new electric car. Octopus offers an easy all-in-one service, providing the brand new car, charger and discounted energy tariff.

In the last two years, Octopus has helped more than 3,000 companies launch an electric car employee benefit scheme, with clients including McLaren, Nando’s and Zoopla.

Octopus Electric Vehicles has increased its headcount tenfold since May 2021, creating more than 225 new green jobs across offices in London, Weybridge, Brighton and Manchester. Octopus recently took its expertise to America with the launch of Octopus Electric Vehicles in the US.

Fiona Howarth, CEO of Octopus Electric Vehicles, commented: “Drivers are increasingly seeing the benefits of switching out old gas guzzlers for electric cars. They are great to drive, better for the planet and can save over £1,000 a year in fuel. With demand soaring, we need manufacturers to continue to increase volumes. ”

“With this demand, the UK is ever more attractive for EV charging investment and a destination for new electric car brands. With an amazing heritage in automotive here in the UK, we’re proud to be able to create new jobs in today’s upgraded, greener car market. And as Pollen Street’s commitment shows, leadership from the finance sector can make a real difference.”

Matthew Potter, Partner at Pollen Street Capital, said: “We are excited to partner with Octopus Electric Vehicles to support the expansion of their salary sacrifice scheme. Octopus are an innovative business which has gone from strength to strength and we are delighted to support their next phase of growth.”

Pollen Street is an alternative asset manager with an established platform across private equity and private credit. Pollen Street’s credit strategy is dedicated to senior secured, asset backed investments with a strong track record in providing financing that delivers positive impact, particularly in energy transition. In the last 18 months the firm has completed four transactions that fund the expansion of electric vehicle fleets encouraging the switch to greener transport.

Octopus Electric Vehicles was launched with a simple mission; to make it easy for drivers to switch to clean, electric transport. The business sits within the wider Octopus Energy Group, which is expanding rapidly having received over $1bn in funding over the last two years, giving it a valuation of $5bn.

Categories: News


Woven Capital, Nvidia back Foretellix’s autonomous vehicle validation tech

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Startups working on driverless cars fully may no longer attract the kind of nine-figure acquisition or funding offers that were prevalent just a few years ago. But there are still pockets within the broader automated vehicle technology sector that have captured the interest and investment of strategic investors.

“We’re looking for solutions that can integrate into our own tool stack,” Betty Bryant, a principal at Woven Capital, Toyota’s growth fund, told TechCrunch. “So a company that can provide a menu of options or just provide a specific piece of the stack, instead of a full stack company,” which Bryant says is “not really an attractive model or solution for OEMs anymore.”

One such company Woven has strategically invested in is Foretellix, an Israeli startup that gives other companies the tools to verify  autonomous vehicle technology at any level. This capability, says Bryant, is essential for safety validation so that companies can actually commercialize and scale everything from Level 2 advanced driver assistance systems (ADAS) to Level 4 autonomous technology.

(According to the Society of Automobile Engineers, Level 2 systems automate two primary functions — maintaining speed and distance on a highway and keeping the vehicle in lane — and still have a human driver in the loop at all times. Level 4 systems mean the vehicle can handle all aspects of driving in certain conditions without human intervention.)

Woven Capital, alongside Nvidia and Artofin VC, participated in the first closing of Foretellix’s $43 million Series C, which was led by 83North.

Ziv Binyamini, CEO at Foretellix, said the company will use the funds to continue to invest in the deep technology needed to verify autonomy while hiring sales teams to help the company expand across more geographies. Foretellix already has around 150 employees spread across Israel, California, Detroit, Germany, Sweden, China and Japan.

“We need to beef it up because demand is growing significantly,” Binyamini told TechCrunch.

At a high level, Foretellix’s offerings can be boiled down to two core technologies: Scenario generation and big data analytics.

Every company building autonomous vehicle technology tests their systems in simulation against various scenarios geared toward finding edge cases. Foretellix’s technology automatically generates “an unlimited number of variations of scenarios” that companies can use, according to Binyamini.

“We also complement that core technology with libraries of what we call content,” he said. “Libraries of scenarios, libraries of KPIs. So if you’re developing ADAS, we have libraries for all the dysfunctions like automatic emergency braking, for example. For each such dysfunction, we also have a library of all the relevant scenarios and associated KPIs or metrics.”

Once a company tests a system, either virtually against generated scenarios or physically on real roads, they then have to analyze the results, which is the second core technology Foretellix offers.

Some of Foretellix’s biggest customers are Daimler Trucks and Volvo Group, both of which are building autonomous trucks. The company also works closely with Nvidia by integrating into its Drive SIM platform, Nvidia’s end-to-end simulation platform. Last September, Nvidia said Drive SIM got a new suite of AI tools to help test and develop self-driving vehicles.

“Nvidia is an infrastructure provider for the whole economy, from the hardware to the software to the simulator to a full software stack,” said Binyamini. “Our solution is complementary to their offering because in the end, to build a full-blown autonomous system, you need to validate it. It’s one of the biggest, probably the biggest remaining challenge, to get autonomy to commercial, scalable deployment.”

In a similar vein, Bryant said Woven by Toyota (formerly Woven Planet) is partnering with Foretellix because the startup’s solution complements Woven’s technology in-house. The mobility technology subsidiary is working on both ADAS and L4 technology, according to Bryant.

“Foretellix has found an interesting niche area in the simulation space,” said Bryant. “Foretellix is not a simulation company, but it’s supporting simulation work. And I find that other players might be trying to work on building robust verification technology, but no one has quite the focus and depth of technology that Foretellix does.”

Categories: News


Carwash Clean In 60 Meters joins Torqx Capital Partners’ carwash initiative

Torqx Capital

Torqx Capital Partners (“Torqx”) and Oscar Dackus have come to an agreement concerning the acquisition of Clean In 60 Meters by Torqx. Clean In 60 Meters is a premium car wash located in Heerlen and is known for its high quality wash process, exceptional customer experience and enthusiastic team of employees. Clean In 60 Meters is an important stepping stone to further build the leading Benelux network of premium carwashes. Following the acquisition, Torqx will further invest in its facilities by implementing an upgrade plan for which Clean In 60 Meters was recently granted a permit. The upgrade will further increase its capacity and expand washing capabilities, allowing customers to count on an even faster and more comprehensive service.

Oscar, the founder of Clean In 60 Meters, is very pleased with the acquisition by Torqx and sees strong potential for Clean in 60 Meters as a core member of the Carwash Group. “I founded Clean In 60 Meters 13 years ago and I am very proud of what we have achieved with the team. Now that the time has come for me to take a step back, I am happy that I can hand over my business to a group of young, enthusiastic and highly professional people who share with me the same passion for carwash. The acquisition also ensures a bright future for my employees and the company itself, as part of a strong group of premium car washes that has the relevant capabilities as well as the required capital and willingness to invest further in this company and its people.”

Hein Castelijns, Managing Director of the Carwash Group, is looking forward to further developing the carwash together with the current team: “We are very pleased with our expansion towards the southern region of The Netherlands. Oscar has built a wonderful company with a great reputation, characterised by a high-quality washing process, a strong team and premium customer experience. This makes Clean In 60 Meters a very valuable and fitting addition to the rest of the group. Furthermore, I am greatly enthused about the renovation plans that will allow us to improve the customer experience even further and, at the same time make the washing process more sustainable.”

With the acquisition of Clean In 60 Meters, Torqx continues to build on its goal of developing a leading network of premium carwash locations in the Benelux region. David van Hasselt, Partner at Torqx sees the acquisition as an important step: “The acquisition of Clean In 60 Meters enables us to further expand our network of premium carwash locations and brings us closer to achieving network coverage throughout the Benelux region. It also means that we have once again gained the trust of a respected and successful carwash entrepreneur like Oscar, which is a strong confirmation that we are on the right track.”

About Clean In 60 Meters
Carwash Clean In 60 Meters is widely recognised in the carwash industry as a high-quality carwash in Limburg with a strong and recognisable brand. Oscar started the carwash in 2009, due to its high-end machinery and excellent maintenance, Clean In 60 Meters is known for its high-quality washing process. In addition, an energetic and customer-oriented way of working of the employees ensures that Clean In 60 Meters offers every customer an excellent and premium wash experience. For more information, please visit: www.carwashcleanin60meters.nl 

Categories: News


Opsys Tech tops up latest venture effort with additional $36.5M

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Israeli developer of automotive lidar eyes production ramp after closing $51.5M series C round.


Opsys Tech, one of several startups developing automotive lidar technology out of Israel, says it has raised an additional $36.5 million in its latest venture funding round.


The additional cash, which brought total series C funding to $51.5 million, will be used to ramp production of commercial devices built around its solid-state platform.

Last year the company agreed deals with major auto part suppliers including China’s Hasco and SL Corporation in South Korea.

A recent update to the Hasco collaboration is expected to see the Chinese firm manufacture the Opsys lidar units domestically, with mass production slated to start in 2024.

VCSEL array
Taking part in Opsys’ latest round of financing round were the likes of 83North, Osage University Partners, Translink Capital, and Saban Ventures.

“The series C financing will support the ramp of commercial automotive production quantities of Opsys Tech’s lidar sensor solutions,” announced the Israeli startup.

The firm claims to have developed a lidar sensor that is uniquely capable of high performance and reliability coupled with low cost that is able to meet all user requirements and requires no moving parts.

Opsys also claims a detection range of 300 meters at 10 per cent object reflectivity with its sensors, which are based around an array of vertical-cavity surface-emitting lasers (VCSELs) operating at 850-980 nm and single-photon avalanche diode (SPAD) detectors.

Gertel, the former CEO of major VCSEL manufacturer Finisar (now part of the giant Coherent photonics company), co-founded the startup and is now its executive chairman.

Commenting on the latest funding round, he said: “We are gratified by the validation of our unique technology and our demonstrated commercialization progress.

“Customer feedback on the best-in-class overall performance of our sensor has been incredible and our customer engagement levels have never been higher.

“Based on customer feedback, we believe we have developed the only lidar sensor available on the market that can meet all customer requirements at all times to enable a complete automotive lidar solution.”

Mass production in Asia
Gertel believes that the solid-state sensor is capable of meeting all automotive reliability requirements and performance specifications required for every level of advanced driver assistance systems (ADAS) and autonomy, adding:

“With the closing of this financing round, we can complete the full production ramp of our True Solid-State Scanning lidar product line, and we are looking forward to supplying our customers with production quantities of our lidar sensors.”

Opsys is also exhibiting at this week’s CES 2023 in Las Vegas – now a key event for automotive lidar companies – and used the occasion to announce the update to its agreement with Hasco.

Company CEO Rafi Harel, who was the general manager of Finisar Israel for several years, said of that deal:

“This major milestone…marks our entrance into the market for mass production quantities of automotive lidar systems in Asia.

“The use of Opsys lidar technology will increase the safety of vehicles on the road while enabling the evolution of autonomous functionality at all levels, including L5.”

Categories: News


Vow and ETEL team up for recycling of end-of-life tyres

Vow ASA announced December 20 that it has teamed up with European Tyre Enterprise Ltd. (ETEL), to deploy Vow’s advanced technology in a complete solution to convert end-of-life tyres to valuable raw material and renewable energy. ETEL has identified a potential demand for more than 300 tyre recycling plants in Europe, North America and Japan.

Murfitts Industries (Murfitts), which is a subsidiary of ETEL and the largest collector and processor of end-of-life tyres in the UK and ETIA, a subsidiary of Vow, have been working together for several years. The parties have developed a full industrial process, in which end-of-life tyres are valorised into a premium recovered carbon black.

ETEL is an international tyre and automotive service, maintenance, and repair group. It is a subsidiary of Itochu, one of Japan’s largest trading companies.

“Together with Murfitts, ETEL and Itochu, we are forming a unique British-French-Japanese-Norwegian partnership. We see a huge opportunity for Vow technology and our combined competence and capacity in a rapidly emerging market. We have agreed to come together to offer a truly sustainable method for handling end-of-life tyres and at the same time decarbonise the tyre industry,” said Henrik Badin, CEO of Vow ASA.

Every year 30 million tonnes of end-of-life tyres are generated globally. As of today, around 30 percent of the tyre composition is virgin carbon black, an important component in tyre manufacturing. Virgin carbon black is produced by cracking fossil oil, a process which generate a large quantity of CO2. Today, all major tyre manufacturers are looking to replace part of the virgin carbon black with recovered carbon black in tyre production.

Pyrolytic oil and syngas, the two other products that are generated in the tyre recovery process are valorised into low carbon fuel or synthetic naphta to generate new low carbon molecules.

“The tyre industry is facing a significant environmental challenge on a global scale, and a great opportunity driven by circular economy incentives. We aim at deploying our solution firstly in Europe, North America, and Japan. Combined these regions represent a market of 8.6 million tons of end-of-life tyre or more than 300 industrial tyre recycling plants,” said Mark Murfitt of Murfitts.

The partnership between Vow and ETEL is defined and agreed in a memorandum of understanding (MoU). The MoU is a continuation of more than two years of successful cooperation and joint operation of a first plant installed at Murfitts’ Lakenheath facility in the UK facility.

According to the MoU the parties will develop a modularised and scalable industrial solution and value chain to turn end-of-life tyres into recovered carbon black and clean energy. Vow will deliver its Biogreen reactor technology to the projects and to the companies that build, own, and operate the plants. ETEL has already identified the first three locations. Applications for building permits for these three sites are well underway.

Categories: News


Nordic Capital invests in Autocirc, an industry leader with a circular business model for recycled automotive spare parts

Nordic Capital to support growth acceleration and European expansion

Nordic Capital has entered into an agreement to acquire Autocirc, a leader in the automotive aftermarket with a circular business model built on a closed-loop eco-system for reused and recycled automotive original spare parts, from the Nordic sustainable investment fund Alder. The investment is made in partnership with Autocirc’s founders Johan Livered and Mattias Pettersson and aims to accelerate the company’s growth plans and further strengthen its circular offering with a mission to significantly reduce CO2 emissions in the automotive aftermarket industry.

Autocirc is a fast-growing and profitable leader in the automotive aftermarket industry, offering high-quality reused original spare parts to insurers, workshops and car owners. Extending the lifecycle of auto parts significantly reduces costs for insurers and end-customers while at the same time contributing to significant climate savings by lowering carbon emissions with up to 75 percent. The European demand for spare parts is high, and Autocirc’s business model reuses more car parts and revives leftover materials with a clear benefit to the environment. Autocirc is based in Borås, Sweden, and has seen rapid growth supported by 37 acquisitions since inception and has c. 570 employees. The company’s turnover is c. SEK 1.2 bn as of September 2022 and is present in Sweden, Norway, Finland and the UK.

Nordic Capital invests in Autocirc alongside the founders Johan Livered and Mattias Pettersson and management team, to support the company in the next phase of its growth journey to create increasing circular effects at a growing scale. Nordic Capital is an active owner with deep experience in growing industrial and business services companies, and the acquisition of Autocirc follows the well-proven strategy of supporting leading companies through growth acceleration.

Joakim Andreasson, Managing Director, Nordic Capital Advisors, says: “Autocirc is a green pioneer in the automotive aftermarket industry, offering sustainable aftermarket services that significantly reduces emissions and climate impact while providing exceptional value to its customers. We have followed Autocirc for a long time and are very impressed by the founders and the management team who have built a very strong platform with great potential for further expansion in existing and new geographies. Autocirc fits perfectly into Nordic Capital’s strategy to build sustainable, first-class companies with great growth potential, and we look forward to supporting Autocirc with expertise, resources and broad external network”.

Johan Livered, CEO of Autocirc, says: “We are very proud of Autocirc’s growth over the past years and we are excited to enter into a partnership with Nordic Capital as one of the leading European private equity investors with strong international reach and an impressive track record of successful growth acceleration in the industrial and business services sectors. We look forward to further accelerating our journey to truly create a sustainable European leader, with great potential in expanding our offering, both in existing and new markets and across the entire value chain. We have had a tremendous development in recent years and look forward to the next chapter together with Nordic Capital”.

Completion of the transaction is expected to occur in Q1 2023 and is subject to customary closing conditions, including relevant regulatory approvals.

Media contacts:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Johan Livered, CEO
Tel: +46 727 164 666
e-mail: johan.livered@autocirc.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested close to EUR 22 billion in 130 investments. The most recent fund is Nordic Capital Fund XI with EUR 9 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

About Autocirc

Autocirc is a Nordic group that offers reused and recycled spare parts to the automotive industry. The company’s operations are based on the circular economy model where car parts and materials can be used longer, which means a competitive advantage and major positive effects for the environment. Autocirc was founded in 2019 and has since grown significantly both organically and through acquisitions in Northern Europe. The company’s turnover is c. SEK 1.2 bn as of September 2022 and has a presence in Sweden, Norway, Finland and the UK. The head office is located in Borås in Sweden and there is a total of c. 570 employees in the group. For further information about Autocirc, please visit autocirc.com

Categories: News


CVC Funds and Nordic Capital completes the acquisition of Cary Group to support its accelerated European growth journey

Cary Group, formerly Ryds Bilglas, is a leading vehicle glass repair and replacement provider, helping to prolong the life cycle of vehicles and maintain their safety features. The company provides its services with proximity to customers in Sweden, Denmark, Norway, the UK, Spain, Portugal, Germany, Luxembourg and Austria, aiming for a high quality, superior customer experience, whilst applying smart solutions to make sustainable car care easier.


We have followed Cary Group and its progress in the industry for some time and have been impressed by the growth that the company has achieved in recent years.

Gustaf Martin-LöfPartner, CVC

Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors, commented: “Having been the principal shareholder of Cary Group for over four years, Nordic Capital has a strong commitment to this fantastic business. Together, CVC and Nordic Capital are ensuring Cary Group’s continued European growth journey and ability to keep pioneering the market for vehicle glass repair and replacement with a leading sustainability focus.”

Gustaf Martin-Löf, Partner, CVC, added: “We have followed Cary Group and its progress in the industry for some time and have been impressed by the growth that the company has achieved in recent years. Looking ahead, we see significant potential for Cary Group to accelerate this expansion, whilst driving operational excellence further. Together with Nordic Capital, we now look forward to providing the company with the right funding conditions, business know-how and geographical reach to strengthen its role on the European market.”

Anders Jensen, CEO Cary Group, said: “Our mission is to provide our customers with smarter solutions for sustainable car care, by offering services that sustain the life, value and safety features of vehicles. We have steadily expanded our business offering over the last five years and now, having partnered with two of the world’s most experienced investors, we are well-placed to accelerate our growth trajectory.”

Between 2018 and 2021, Cary Group invested significantly in initiatives to drive operational excellence and improve the sustainability of its operations, while also deploying an accelerated M&A strategy to expand outside Sweden with the ambition of becoming a leading provider in the Nordics.

CVC and Nordic Capital see a great opportunity across the fragmented European market for Cary Group to expedite its expansion and by staying at the forefront of digitalisation and sustainability within car care. With deep experience of growing businesses both organically and by acquisitions, combined with a broad global network of relationships, CVC and Nordic Capital will enable an accelerated execution in relation to Cary Group’s strategy.

The acquisition follows a public offer to the shareholders on Cary Group, unanimously recommended by the company’s Board of Directors. On 10 October 2022, CVC Funds and Nordic Capital owned 99.9 percent of the shares in Cary Group, through the commonly owned company Teniralc BidCo AB, and the offer was subsequently closed. The last day of trading in Cary Group’s shares on Nasdaq Stockholm was 18 October 2022.

Categories: News


Clearlake Capital-backed Wheel Pros agrees to acquire Transamerican auto parts from Polaris


Strategic Acquisition Creates a Vertically Integrated Omnichannel Platform for Aftermarket Automotive Parts and Accessories


GREENWOOD VILLAGE, CO and COMPTON, CA – June 16, 2022 – Wheel Pros, a 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. (together with its affiliates, “Clearlake”) and in partnership with management, today announced it has entered into a definitive agreement to acquire Transamerican Auto Parts (“TAP” or “the Company”) from Polaris  Inc. (NYSE: PII), the global leader in powersports. TAP is a vertically integrated manufacturer, distributor, retailer and installer of off-road Jeep and light truck parts and accessories. In 2021, TAP generated nearly $760 million in revenue.


“We are thrilled to combine with TAP and build a vertically integrated omnichannel platform for aftermarket automotive enhancements across a wide range of vehicles,” said Randy White, Co-Founder and CEO, and Brian Henderson, Chief Strategy Officer, at Wheel Pros. “TAP’s extensive product portfolio, proprietary brands, manufacturing capabilities, and omnichannel platform have resulted in an automotive and off-roading enthusiast following that we have long admired. We look forward to working with the TAP team as we undertake new initiatives to accelerate the growth of the combined business and continue to drive value for our customers, suppliers, and partners.”


Headquartered in Compton, California, 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 a scaled player in the aftermarket automotive industry, and the combination with Wheel Pros creates a vertically integrated omnichannel platform that better serves automotive and off-roading enthusiasts,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. “We look forward to continuing to leverage our O.P.S.® framework in partnership with the Wheel Pros team to drive both organic and inorganic growth as the company builds upon its position as a premier automotive aftermarket enthusiast platform.”


“With this combination, we have brought together two well-known businesses in the automotive aftermarket industry,” said Dilshat Erkin, Senior Vice President at Clearlake. “We are excited to welcome the TAP team to the Wheel Pros organization and continue to support the combined business as they embark on new innovative projects to accelerate growth.”


The transaction is expected to close early in the third quarter, subject to customary closing conditions. Baird acted as financial advisor to Polaris in connection with the transaction. Kirkland & Ellis LLP served as legal counsel to Wheel Pros and Clearlake.




Founded in 1995, 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. More information is available at www.wheelpros.com.




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. More information is available at www.transamericanautoparts.com.




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. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.




For Wheel Pros:

Max Krapff

Backbone Media

970.658.5252 ext. 1174



For Clearlake:

Jennifer Hurson

Lambert & Co.

+1 845-507-0571


Categories: News


Bain Capital Private Equity has received a definitive binding offer from D’Ieteren Group to purchase Parts Holding Europe


Bain Capital Private Equity has received a definitive binding offer from D’Ieteren Group to purchase Parts Holding Europe

London, February 14, 2022 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, announced that it has received a definitive binding offer from D’Ieteren Group, a family-controlled listed investment firm, to purchase Parts Holding Europe (“PHE”), also known as Autodistribution, a leading European digitally-enabled automotive parts distributor.

With c.€2 billion total sales, PHE is a European leader in B2B and online B2C distribution of  spare parts for light vehicles and trucks. Under Bain Capital’s ownership, PHE has built a truly pan European footprint expanding in the Benelux, Italy and Spain, and invested in state-of-the-art logistic capabilities and industry-leading digital services to its customers contributing to a consistent trajectory of organic growth above its end-markets and peers.

“I would like to thank Bain Capital for their partnership and valuable support”, said PHE CEO Stéphane Antiglio, who will continue to lead the business. “In the past five years, PHE has achieved a remarkable acceleration of its trajectory and significantly enhanced its competitive position through continuous investments. We have consolidated our strong leadership position in France and repositioned the business through digitalization and a successful and accretive pan-European expansion. We look forward to building on this strong foundation going forward under D’Ieteren Group’s ownership.”

“We are proud to have participated alongside PHE’s management in the creation of a pan European leader in B2B distribution with differentiated digital capabilities” said David Danon, managing director of Bain Capital. “The success story of PHE builds on Bain Capital’s strong track record investing in European B2B distribution, which includes IMCD, Brenntag, MKM and Brakes.”

Completion of the proposed acquisition will be subject to obtaining the necessary clearances from the competent antitrust and regulatory authorities, as well as the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws. Further announcements will be made in due course.

Bain Capital was advised on this deal by Rothschild & Co and Latham & Watkins LLP.

About Parts Holding Europe
Parts Holdings Europe is a leading, integrated, digitally-enabled omnichannel distributor of automotive spare parts in continental Western Europe, contributing to affordable and sustainable mobility. The Group operates in the independent aftermarkets in Belgium, France, Italy, Netherlands and Spain, and has nearly 60 years of experience and a winning business model that drives superior value creation in distribution. Since the acquisition of Oscaro in November 2018, the Group has become an omnichannel (online and offline) distributor focused on both business-to-business (“B2B”) and business-to-consumer (“B2C”) offerings. The Group considers its target market to be vehicles aged over three to five years and up to 30 years. The Group benefits from having a wide assortment and strong purchasing advantage, a state-of-the-art logistics footprint, a powerful network of affiliated garages, and a differentiated value proposition with digitalization across the value chain.

About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 270 professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications.

Bain Capital has 22 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, real estate, public equity and venture capital, managing approximately $155 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalprivateequity.com.


This announcement does not constitute or form part of, and should not be construed as, an offer or invitation or inducement to subscribe for, underwrite or otherwise acquire, any securities of Parts Europe S.A. or any of its affiliates, nor should it or any part of it form the basis of, or be relied on in connection with, any investment decision with respect to securities of Parts Europe S.A. or its affiliates or any other company.

This announcement includes forward-looking statements that are based on current expectations and projections about future events. All statements other than statements of historical fact included in this document, including, without limitation, statements regarding the future financial position, risks and uncertainties related to the business, strategy, capital expenditures, projected costs and the plans and objectives for future operations, may be deemed to be forward-looking statements. Words such as “believe,” “expect,” “anticipate,” “may,” “assume,” “plan,” “intend,” “will,” “should,” “estimate,” “risk” and similar expressions or the negatives of these expressions are intended to identify forward-looking statements. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. In addition, any forward-looking statements are made only as of the date of this announcement, and Bain Capital does not intend, and does not assume any obligation, to update forward-looking statements set forth in this announcement.

Media Contacts

Categories: News


DIF Capital Partners signs agreement to acquire leading Spanish technical inspection services company Grupo Itevelesa


DIF Capital Partners (“DIF”) is pleased to announce that its DIF Infrastructure VI fund has signed an agreement to acquire a 100% ownership stake in Grupo Itevelesa (“Itevelesa” or the “Company”), a leading independent provider of vehicle inspection services, from funds managed by Hayfin Capital Management (“Hayfin”).

Founded in 1982 and headquartered in Madrid, Itevelesa is one of Spain’s largest independent providers of periodical technical inspection services for vehicles, which are conducted under contracts with regional governments of which the majority is long-term concession-based. The Company operates 72 fixed locations and 20 mobile units across 11 autonomous communities; it also provides industrial safety, metrology and environmental inspection services. Hayfin has been the Company’s majority shareholder since 2015. With the long-term support of DIF, Itevelesa will aim to continue its strong growth path and further consolidation of its market position.

Jesús García Gil, CEO of Itevelesa, said: “DIF is a highly regarded infrastructure investor with a strong and long-standing track record in the Spanish market. We are all delighted to welcome them on board as our new investor and shareholder. DIF is the ideal partner to support the Company’s growth and diversification business strategy; this transaction ensures that we can continue delivering the highest possible safety and quality service to our customers under the highest ESG standards. Hayfin has been a highly supportive shareholder to us over the past six years and we’d like to thank them for their confidence and contribution to the business’ growth.”

Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI at DIF, said: “Itevelesa is largely long-term concession based and provides an essential service across Spain through its extensive network of vehicle inspection service stations and industrial inspection offices. It therefore aligns closely with our core strategy of making stable and long-term equity investments in best-in-class operational infrastructure assets with a strong market position and predictable cash flows. We are looking forward to working closely with the Itevelesa team to continue to deliver a high-quality service to its customers.”

DIF has been advised by Cantor Fitzgerald (Financial) and Herbert Smith Freehills (Legal). Hayfin has been advised by Alantra (Financial) and Linklaters (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.

Categories: News