Clearlake’s Wheel Pros Launches Financing Talks With Debtholders

Wheel Pros Inc. and a cohort of debtholders have entered confidential talks surrounding the wheelmaker’s financial woes, according to people with knowledge of the matter.

The debtholders are getting advice from Akin Gump Strauss Hauer & Feld, said the people, who asked not to be identified because the matter is private. The Clearlake Capital Group-backed company, meantime, is working from Kirkland & Ellis and Houlihan Lokey as earnings deteriorate and cash coffer dwindles, the people said.

Representatives at Clearlake, Wheel Pros, Kirkland and Akin didn’t reply to request for comment. A spokesperson for Houlihan declined to comment. Reorg ...