HOONIGAN APPOINTS VANCE JOHNSTON AS PRESIDENT TO LEAD THE COMPANY IN ITS NEXT PHASE OF GROWTH AND ANNOUNCES RETIREMENT OF RANDY WHITE AS CEO

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Dec 11, 2023, 19:00 ET

White retires after leading Hoonigan for 27 years since co-founding the business in 1996

DENVER and SANTA MONICA, Calif., Dec. 11, 2023 /PRNewswire/ -- Hoonigan (the "Company"), a provider of high-performance aftermarket vehicle enhancements backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced that the Company's Board of Directors (the "Board") has appointed Vance Johnston as President and Chief Operating Officer. In his new role, Johnston will report exclusively to the Board and will manage all aspects of Hoonigan's operations as the Company continues to execute its strategic vision.

He succeeds Co-Founder and former Chief Executive Officer Randy White, who announced his retirement after almost 30 years of driving the Company and the automotive aftermarket industry forward. White will continue to serve on the Board and be closely involved in the transition as an advisor.

"Vance is a leader with a track record in executive leadership roles at significant scale. We look forward to partnering with him and the rest of the leadership team at Hoonigan to drive growth in the platform," said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, at Clearlake. "Randy is an inspiring leader who has progressed both Hoonigan and the industry forward since the Company's inception. On behalf of the Board, we thank Randy for his unwavering leadership, passion, and commitment to innovation, all of which have propelled Hoonigan to grow from two distribution centers into the global company it is today."

"It has been a true privilege to build and lead Hoonigan over almost three decades, and I am thankful to have worked with so many wonderful individuals that have allowed the Company to reach its goals of enabling consumers to satisfy their automotive passions and personalize their vehicles," said White. "I'm confident Vance is the right person to lead Hoonigan into the future and deliver its next phase of growth. I look forward to working with him as I continue serving on the Company's Board."

Johnston brings decades of leadership experience, including helping organizations achieve their growth and strategic objectives. Prior to joining Hoonigan, Johnston served in various executive roles leading strategic planning, finance, and operations, including most recently as Chief Financial Officer at Parts Authority, a national auto parts distributor. He previously served as CFO at IAA, Inc., a global technology and auto services company; SP Plus Corporation, a business services company; and Furniture Brands International, Inc., a consumer goods, manufacturing and retail company, and he also led strategy and/or operations at Royal Caribbean, Burger King, and OfficeMax. Over his career, he has led over 25 M&A transactions and has experience implementing growth strategies and business transformations. Johnston holds a Bachelor of Science degree in Accounting from the University of San Diego and a Master of Business Administration degree from the University of Chicago Booth School of Business.

"Hoonigan is an exciting company with passion and innovation in its DNA, and I'm honored to have the opportunity to lead this organization and work with all the wonderful members of the team at the Company in its next phase of growth," added Johnston. "Randy has built an incredible foundation for us to continue to scale from, and I believe there are many opportunities for Hoonigan to drive accelerated growth as the Company provides consumers with new ways to connect with and customize their vehicles."

"We're thrilled to welcome Vance to the Hoonigan and Clearlake family. We believe his capabilities and past experience in developing strategy and operational execution will drive the Company to new heights," said Dilshat Erkin, Senior Vice President at Clearlake. "We wish Randy the best in his decision to retire and appreciate everything he has done to enable the successes we've enjoyed in our years of partnership. We look forward to his continued contributions to our future success as a member of the Board."

About Hoonigan
Hoonigan serves the automotive enthusiast industry with entertaining content and a wide selection of vehicle enhancements from its portfolio of lifestyle brands, including Fuel Off-Road, American Racing, KMC, Morimoto, TeraFlex, Rotiform, and Black Rhino. Utilizing its expanding global network of distribution centers spanning North America, Australia, and Europe, Hoonigan serves over 16,500 retailers. It has a growing e-commerce presence to provide enthusiast consumers with access to a variety of aftermarket enhancements including wheels, suspension, lighting, and accessories. More information is available at www.hoonigan.com.

About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland and Singapore. More information is available at www.clearlake.com and on Twitter @Clearlake.