Chicago, December 8, 2022 -- Rock Gate Partners (“Rock Gate”), a Chicago-based private equity firm, and Peninsula Capital Partners (“Peninsula”), a Detroit-based junior capital provider, have sold Whitewater Brands, Inc. (“Whitewater” or the “Company”) to Lincolnshire Management, Inc. Financial terms of the transaction were not disclosed.
Whitewater was formed in 2012 by Rock Gate and Peninsula to acquire I/D/E/A, Sole Source and Collision Services. Sid Savage was acquired by Whitewater in 2015, followed by Auto Body Toolmart in 2018.
Today, Whitewater is a leading omni-channel marketer and supplier of high-margin, productivity-enhancing consumables and light equipment to the automotive collision, mechanical repair, and dealership industries. The Company’s products are sold to a fragmented base of over 100,000 B2B and B2C customers, offering a diverse portfolio of approximately 69,000 SKUs, including those of its proprietary light equipment brands ProLific Automotive Products® and Champ®. The Company believes it is a market leader in supplying these products to both independent repair shops and industry consolidators.
Rock Gate Founder and Managing Director Kenneth Ali commented, “Whitewater’s businesses are essential partners to their customers, particularly the collision repair industry consolidators, in their continuous effort to optimize the efficiency and profitability of their operations.”
Brown Gibbons Lang & Company, McDermott Will & Emery LLP, Andersen Tax LLC and CliftonLarsonAllen LLP advised Whitewater.
Rock Gate Partners
Rock Gate Partners is a Chicago-based private equity firm that acquires lower middle market ‘mind share’ leaders with unique market positions, providing the basis for organic growth while offering a platform for acquisitions. Rock Gate’s mission is to sustainably grow companies to their true potential through focus on continuous improvement and investment in people, product, process and technology. Rock Gate targets mature and later stage growth companies typically generating $3 to $12 million in EBITDA and EBITDA margins in excess of 10%.
Peninsula Capital Partners
Peninsula Capital Partners is a Detroit-based investment company specializing in providing junior capital, including subordinated debt, preferred stock or common stock, either as a minority or control investor, to superior middle-market companies.
To learn more, please contact:
Kenneth L. Ali
Founder & Managing Director
(312) 283-0631
kali@rockgatepartners.com
Stephen K. Foutch
Principal & Managing Director
(312) 283-0632
sfoutch@rockgatepartners.com
Jeffrey S. Burns
Senior Associate
(312) 283-0634
jburns@rockgatepartners.com