Houlihan Lokey Advises Innovative XCessories & Services
![Transaction: Houlihan Lokey Advises Innovative XCessories & Services](/media/moleomyt/ixs_olympus-partners_clearlake.gif)
Houlihan Lokey is pleased to announce that Innovative XCessories & Services LLC (IXS), a portfolio company of Olympus Partners, has been acquired by Clearlake Capital Group. The transaction closed on March 5, 2020.
IXS provides vehicle upfit services and coating solutions to OEMs, the automotive aftermarket, and diversified industrial end markets through two divisions: Ground Effects (GFX) and IXS Coatings. GFX provides automotive OEMs with margin-enhancing vehicle upfit services, including the commercial application of spray-on pickup truck bedliners and the labor-intensive installation of factory options and special edition modifications. GFX also manufactures functional exterior accessories for pickup trucks and SUVs, including side steps and roof rails. IXS Coatings includes LINE-X, a franchisor of more than 500 branded service locations. LINE-X is the industry's largest aftermarket retailer of spray-on bedliners and a leading retailer of functional truck accessories. In addition, Industrial Coatings provides solutions to a wide and expanding range of end markets, including energy, marine, and defense, using protective coatings similar to the product used for pickup truck bedliners.
Founded in 2006, Clearlake Capital Group is a leading private investment firm based in Santa Monica, California. Clearlake has over $17 billion in assets under management, and its senior investment principals have led or co-led more than 200 investments.
Houlihan Lokey served as financial co-advisor to Innovative XCessories & Services.
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