Retail

Investcorp leads acquisition of aftermarket heavy-duty truck and trailer parts distributor

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FleetPride Corp., the largest independent distributor of aftermarket heavy-duty truck and trailer parts in the United States, has been acquired by Investcorp, Banc of America Capital Investors and members of the company's management team.

Investcorp also owns American Tire Distributors Holdings Inc., which it purchased in 2005.

FleetPride is made up of 156 distribution branches strategically located throughout the country. The company's product and service offering includes heavy-duty truck and trailer replacement parts such as brake and wheel-end parts, drive-train parts, engine-related components, and hydraulic and suspension parts.

"FleetPride serves a stable and steadily growing industry, driven by strong domestic freight demand and a large and growing installed truck base," says Sean Madden, managing director of Investcorp. "The company has built a world-class infrastructure and a scalable operation to offer the highest quality customer service in a fragmented market.

"Against this backdrop, FleetPride's management team has implemented a range of initiatives that have generated significant revenue and EBITDA increases. We believe the company is well positioned to sustain this performance, both through add-on acquisitions and organic growth, building on the company's market-leading customer service, national distribution capabilities, robust product offerings, established infrastructure, and efficient and scalable operations."

Watch Hill Partners LLC served as financial advisor to Investcorp and Banc of America Capital Investors on the transaction. Financing was provided by Bank of America and Deutsche Bank. Harris Williams & Co. served as financial advisor to Aurora Capital Group and the prior investment group.

Terms of the transaction were not disclosed.

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