Brentwood Associates Announces Sale of Bell Automotive Holdings, Inc.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Brentwood Associates ("Brentwood"), one of the nation's leading private equity firms, today announced it had completed the sale of Bell Automotive Holdings, Inc. ("Bell Automotive" or the "Company") to existing management and an investment group led by JH Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control for more than $60 million. Based in Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " , Bell Automotive is a leading supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers A steering wheel cover is an automotive accessory used to enhance the grip, comfort, or appearance of a steering wheel. Common categories of steering wheel cover are: Brentwood, along with management partners Terry Lee and Mary George Mary George (b. in Aberdeen, Scotland), well-known as Elizabeth Thornton is an Canadian writer of historical romance novels. Biography Mary George was born in Aberdeen, Scotland. She is a professor married to a professor. In 1967, she founded the St. , formed Bell Automotive in February 2000 to pursue a growth strategy in the automotive accessories industry following a successful partnership at Bell Sports Corp. Bill Barnum, a general partner at Brentwood, commented: "The sale of Bell Automotive consummates a very successful investment for Brentwood's investors. In partnership with management, we were able to leverage our expertise in branded consumer products and global sourcing. By combining the power of the Bell brand with a manic focus on product cost savings and operational execution, we were able to create a leader in the automotive accessories channel with a sustainable advantage. We are very proud of the accomplishments to date and believe the prospects for Bell Automotive are bright." Ed McCall, general partner, further added, "Our investment philosophy is centered first and foremost on management. Our investment in Bell Sports produced an exceptional result, and we saw further opportunity to partner with this outstanding management team. Bell Automotive is the second chapter in an ongoing partnership with more to come." Since the acquisition of Cobbs Manufacturing (renamed Bell Automotive), Company management has led significant operational improvements which have driven pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become compound annual growth of 15% and 32%, respectively. Key initiatives over the last five years included: (i) rationalizing the supply chain and gaining significant product cost savings through a partnership with ThreeSixty Sourcing (a global sourcing service provider), (ii) increasing the breadth and depth of the existing product lines to help differentiate Bell Automotive as a full line, category manager of innovative automotive accessories, (iii) leveraging Bell Automotive's highly efficient distribution and outstanding customer service levels to obtain additional distribution/shelf space within both the mass market and automotive retail channels, and (iv) introducing new products in adjacent categories to drive incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. growth. About Bell Automotive Bell Automotive Products, Inc., based in Scottsdale, Arizona, is a leading supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products. A dedicated focus on automotive accessories has yielded an unparalleled reputation for quality, innovation and customer service. The company's broad line of convenience accessories is marketed under the well-recognized Bell and Cobbs brand names at leading retailers such as Wal*Mart, Target, K-Mart, Fred Meyer, Autozone, Pep Boys, CSK CSK see chronic superficial keratitis. and Canadian Tire Canadian Tire (TSX: CTC, CTC.A) is one of Canada's 35 largest publicly traded companies and operates an inter-related network of businesses engaged in retailing (hardgoods, apparel and petroleum) and services (financial and automotive). . About Brentwood Associates Brentwood Associates is a leading Los Angeles-based private equity investment firm with over $750 million under management. Founded in 1972, Brentwood has an extensive history of partnering with business leaders to create equity value through rapid growth. Since 1984, Brentwood has invested in 30 portfolio companies with an aggregate transaction value of nearly $4 billion. Current investments include: Array Marketing Group, Inc. (www.arraymarketing.com), Bay Travelgear, Inc., Exhale exhale /ex·hale/ (eks´hal) to breathe out. ex·hale v. 1. To breathe out. 2. To emit a gas, vapor, or odor. Enterprises, Inc. (www.exhalespa.com), FleetPride Corp. (www.fleetpride.com), Oriental Trading Company, Inc., (www.orientaltrading.com), Spectrum Clubs, Inc. (www.spectrumclubs.com), ThreeSixty Sourcing (www.threesixtysourcing.com), and Zumiez, Inc. (www.zumiez.com). Additional information may be found at www.brentwood.com. |
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