Investment Group Buys Leading US Distributor
Global investment group, Investcorp, has decided to acquire American Tire Distributors Inc (ATD) from its majority shareholder, Charlesbank Capital Partners. According to the Tire Review report, no further details were released.
ATD is the largest independent tyre distributor in the US, with 70 distributions centres in 35 states. These service some 40,000 tyre dealer locations across the country.
The company claims that it is the only distributor to carry brands by the top four North American tyre companies: Bridgestone/Firestone North American Tire, Goodyear Tire & Rubber Co, Michelin North America and Continental Tire North America. In addition, ATD distributes custom wheels, accessories and automotive service equipment.
“American Tire Distributors holds a strong position in a fragmented, but growing replacement tyre distribution market,” Steven Puccinelli, a managing director of Investcorp, said. “We look forward to partnering with Dick Johnson and his team to capture the growth opportunities available to the company and, just as importantly, to help its independent tire dealer customers grow their businesses.”
Investcorp is a global investment group with offices in New York, London and Bahrain. The company was established in 1982 and now manages total investments approximately $8.6 billion.