Genstar Capital Agrees to Sell BBB Industries to Clearlake

Genstar Capital, a San Francisco-based private equity firm, agreed to sell aftermarket auto parts manufacturer BBB Industries to peer Clearlake Capital Group.

Genstar will keep a minority stake in BBB, according to a statement Thursday, confirming a Bloomberg News report. Terms weren’t disclosed. The deal values the company at about $2.7 billion, according to people familiar with the matter, who asked to not be identified because the terms aren’t public.

“We see a significant opportunity to partner with BBB’s management team to build upon their core business as well as several compelling growth areas across the automotive ...