Co-Investor To Fuel Growth At Arrowhead
Investcorp, a global provider and manager of alternative investment products, has taken a significant minority stake in the company.
FleetPride Sold To Private Investment Firm
TPG is acquiring the heavy-duty truck and trailer parts business from Investcorp.
The AMN Week in Review (April 19-23, 2010)
The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says “News Archives” at the bottom of the page to begin catching up on the latest industry news.
American Tire Distributors Sold to Equity Group in $1.3 Billion Deal
The sale to TPG Capital will end ATD’s ownership by a consortium of Investcorp, Berkshire Partners and Greenbriar Equity Group, which bought ATD in 2005 for an estimated $500 million.
FleetPride Acquires Keller Truck Parts
National aftermarket heavy duty truck parts distributor FleetPride has acquired Keller Truck Parts, Inc. Keller has 11 locations across Delaware and Maryland. Maryland locations include Annapolis Junction, Baltimore (two branches), Elkton, Frederick, Gaithersburg, Hagerstown, Landover and Waldorf. Delaware locations include Dover and Wilmington.
CCC Information Services, Mitchell International to Merge
CCC Information Services Inc., of Chicago , Ill. , and Mitchell International, Inc., of San Diego , Calif. , have signed a definitive agreement under which they will combine in a merger-of-equals transaction valued at $1.4 billion. CCC and Mitchell are each privately held. The combined enterprise, which will be known as CCC-Mitchell Inc., will be a leading provider of information, workflow management systems and integrated software to insurance companies and collision repair facilities.
FleetPride Sold to Investment Groups
Aftermarket heavy-duty truck and trailer parts distributor FleetPride Corp. was acquired by investment groups Investcorp and Banc of America Capital Investors. Terms of the transaction were not disclosed.
CCC Information Services Group Stockholders Approve Merger Transaction
CCC Information Services Group, a supplier of advanced software, communications systems, Internet and wireless-enabled technology solutions to the automotive claims and collision repair industries, announced that its company stockholders voted to adopt a merger agreement with entities affiliated with Investcorp, a global investment group.
ATD Releases First Quarter Operating Results
American Tire Distributors Holdings Inc. (ATD) has announced operating results for the first quarter, which ended Apr. 2. Consolidated net sales increased 17.6 percent to $354.3 million, versus $301.4 million in the first quarter of fiscal 2004, and gross profit increased 10.9 percent, ATD reported.