TPG Capital, the Ft. Worth, Texas-based private equity firm that has signed a definitive agreement to acquire American Tire Distributors Inc. (ATD) for more than $1 billion, is armed with more than $45 billion in capital.
Formerly known as Texas Pacific Group, the company was formed in 1992. Over the years, in conjunction with various partners, TPG has made a number of high-profile acquisitions, including Neiman Marcus Group (2005), Harrah's Entertainment (2006), Alltel (2007), and others.
The firm has offices in the U.S. (Ft. Worth, New York and San Francisco), Russia, China, England, France, India, Hong Kong, Germany, Japan, Singapore, Australia and Luxembourg.
"Our investment philosophy has been to create value by investing in change -- change created by industry trends, economic cycles or specific company circumstances," reads TPG's Web site. "Our tradition of providing unique investment insight and value-added operating capabilities to companies undergoing change, as well as comfort in dealing with complexity and distressed companies, differentiates us from many traditional private investment firms.
"Our goal is to help management teams build long-term value that benefits all stakeholders. We structure our private equity investments based on each company's circumstances."
TPG plans to close on its acquisition of ATD during the second quarter. For more, see TPG Capital to acquire ATD for $1.3 billion, posted yesterday, April 21, on www.moderntiredealer.com.
