Somerset, PA-based aftermarket parts distributor Wheeler Fleet Solutions was acquired by middle market private equity firm One Equity Partners.
Terms of the transaction were not disclosed.
Established in 1960, Wheeler Fleet Solutions is a distributor of parts and engineering solutions serving the medium and heavy-duty fleet market. The company provides customers with parts expertise, proprietary IT solutions and a rage of medium and heavy-duty replacement parts. With around 385 employees, Wheeler operates three distribution centers located in Pennsylvania, Mississippi and Texas.
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“We are excited to partner with Chris and his team for the next chapter of the Wheeler Fleet Solutions story,” One Equity Partners Partner Ori Birnboim said in a Feb. 18 news release. “Truck fleets in North America are witnessing unprecedented levels of advancement and growing needs for parts and services. Wheeler, with 65 years of reputation for industry leading quality customer service, is well positioned to accelerate into its next phase of growth and development as a standalone enterprise.”
See MDM’s Investment Bank Directory for a rundown of the key investment banks and advisory firms in the distribution sector.
New York-based One Equity Partners is a private equity firm specializing in the industrial, healthcare and technology sectors across North America and Europe. Spun off from JP Morgan in 2015, the firm has completed over 400 transactions globally since its founding in 2001.
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