The buyout house picked up American Racing in 2005 and made a series of add-on acquisitions before combining it with the newly-acquired Wheel Pros in 2008.
Wheel Pros designs and distributes high-performance wheels and tyres.
Platinum did not respond to a request for more information about the exit.
Firm principal Renee Koontz said, “Wheel Pros is a stable and successful business that has evolved into a market leader during our ownership.
“The company is well positioned for continued success.”
Platinum Equity is believed to be eyeing up to $2bn from a sale of rigid container maker BWAY after less than two years of ownership.
The firm bought BWAY from fellow private equity firm Madison Dearborn in October 2012 in a $1.24bn deal, and has met with banks to discuss a sale according to Reuters.
It cited people familiar with the matter, who said the process of finding a buyer was yet to begin.
Copyright © 2014 AltAssets