PR Newswire: news distribution, targeting and monitoring
2014

Investcorp completes the sale of FleetPride to TPG for over $1 billion

SALE UNLOCKS $500 MILLION OF DISTRIBUTION PROCEEDS FOR INVESTCORP AND ITS INVESTORS

Share with Twitter Share with LinkedIn

NEW YORK, Nov. 27, 2012 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products, announced today that it has completed the sale of FleetPride, North America's largest truck and trailer parts distributor, to TPG, one of the largest private equity investment firms globally, for more than $1 billion.

Steve Puccinelli, Managing Director at Investcorp and Head of Corporate Investment for North America and Europe said: "FleetPride represents the type of core, mid-market corporate investment that we typically target in the U.S. We worked closely with FleetPride's management team from a very early stage in our investment to successfully implement strategic growth plans, thereby enhancing the company's operations. The success of the FleetPride investment is a testament to our ability to grow our portfolio companies, even during challenging economic conditions, while maximizing the returns for our investors." 

FleetPride is an active participant in the $22 billion U.S. truck and trailer part aftermarket, and is now the largest truck and trailer parts distributor in North America, with a presence in key commercial and economic hubs throughout the United States.

Since its acquisition of FleetPride in 2006, Investcorp has supported 31 different add-on acquisitions by the company, strengthening its cross-country supply chain and adding total acquired sales of over $270 million. Investcorp helped increase FleetPride's branch count to 248 with operations in 45 U.S. states. Investcorp's initiatives increased the company's EBITDA from $52 million at the time of purchase in June 2006 to over $100 million forecasted for 2012, helping generate a net return of more than 200% for investors.

About Investcorp
Investcorp is a leading provider and manager of alternative investment products. Investcorp has offices in New York, London and Bahrain and is publicly traded on the Bahrain Bourse (INVCORP). Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2012, Investcorp had $11.5 billion in assets under management. Further information is available at www.investcorp.com.

SOURCE Investcorp



RELATED LINKS
http://www.investcorp.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 
Area to test

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release