Harris Williams and Co Advises FleetPride Corporation in its Sale to an Investor Group led by Investcorp
Released on = June 7, 2006, 12:44 pm
Press Release Author = Harris Williams & Co.
Industry = Transportation & Logistics
Press Release Summary = Harris Williams & Co. is pleased to announce the sale of FleetPride Corporation (\"FleetPride\" or the \"Company\"), a portfolio company of Aurora Capital Group ("Aurora") and Brentwood Associates ("Brentwood"), to Investcorp International Inc. ("Investcorp"), Banc of America Capital Investors ("BACI"), and management. The transaction closed on June 6, 2006. Harris Williams & Co.'s Transportation & Logistics Group acted as the exclusive advisor to FleetPride. Bram Hall, Todd Morris, Chris Williams, and Peter Feer led the deal team out of Harris Williams & Co.'s San Francisco and Richmond offices.
Press Release Body = Harris Williams & Co. is pleased to announce the sale of FleetPride Corporation (\"FleetPride\" or the \"Company\"), a portfolio company of Aurora Capital Group ("Aurora") and Brentwood Associates ("Brentwood"), to Investcorp International Inc. ("Investcorp"), Banc of America Capital Investors ("BACI"), and management. The transaction closed on June 6, 2006. Harris Williams & Co.'s Transportation & Logistics Group acted as the exclusive advisor to FleetPride. Bram Hall, Todd Morris, Chris Williams, and Peter Feer led the deal team out of Harris Williams & Co.'s San Francisco and Richmond offices.
Harris Williams & Co.\'s Transportation & Logistics Group builds on the firm's deep experience in a variety of transportation and logistics industry sectors. Over the last 18 months, the Group has experienced particularly strong transaction volume in the automotive and heavy-duty truck aftermarket, as well as in the third party logistics industry. The heavy duty truck aftermarket offers investors considerable long-term stability and FleetPride's market leading position, nationwide footprint, and strong growth prospects generated a tremendous amount of interest from potential buyers.
FleetPride Corporation (www.fleetpride.com) is the nation's largest independent distributor of aftermarket heavy duty truck and trailer parts. Headquartered in The Woodlands, Texas, the Company has 156 distribution branches strategically located throughout the country, is approximately three times larger than its closest competitor, and offers the only national distribution footprint in the industry. The Company's comprehensive product offering of over 180,000 active SKUs includes a full spectrum of heavy duty truck and trailer replacement parts. Through outstanding customer service and a compelling value proposition, FleetPride has developed a diverse, stable, and loyal base of over 50,000 customers across a broad range of end markets.
Aurora Capital Group (www.auroracap.com) is a Los Angeles-based private investment firm formed in 1991 that acquires and builds companies in partnership with operating management. Aurora is committed to investing capital in middle market companies with unique, defensible market positions. The firm has a particular interest in acquiring platform companies that can become more significant competitors in their respective industries through internal growth and add-on acquisitions. Aurora is currently managing equity funds totaling approximately $2 billion.
Brentwood Associates (www.brentwood.com) is a private equity investment firm with over $750 million of capital under management and a 30 year history of investing in leading middle market growth companies. With significant experience in both investing and operations, Brentwood is a value-added partner with entrepreneurs and executives building world-class companies.
Investcorp International Inc. (www.investcorp.com) is a global investment group with offices in New York, London, and Bahrain. The firm has four lines of business: private equity, real estate investment, hedge funds, and venture capital. It was established in 1982 and now manages total investments in alternative assets of approximately $8.6 billion.
Banc of America Capital Investors (www.bacapitalinvestors.com) is a private equity partnership that manages over $2 billion of capital for Bank of America.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is one of the largest mergers and acquisitions advisory firms in the country focused exclusively on the middle market. With offices in Richmond, San Francisco, Boston, Philadelphia, and Minneapolis, Harris Williams & Co. represents private equity groups as well as publicly and privately held companies worldwide.
Harris Williams & Co. is the trade name under which Harris Williams LLC conducts its business. Member NASD/SIPC.
Web Site = http://www.harriswilliams.com
Contact Details = Kimberly Baker Marketing Director Harris Williams & Co. 1001 Haxall Point, 9th FL Richmond, VA 23219 ph: 804-648-0072 fax: 804-648-0073
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