Friedman Fleischer & Lowe has completed its acquisition of Transtar Industries from Linsalata Capital Partners. The deal was financed with $425 million of senior secured credit facilities, the companies said. Transtar is a provider of autobody products for automotive repair. San Francisco-based private equity firm Friedman Fleischer & Lowe has roughly $2.5 billion under management.
Friedman Fleischer & Lowe (“FFL”) today announced that it has completed its acquisition of Transtar Industries, Inc., the premier provider of world class driveline and autobody solutions to the automotive repair industry.
“The completion of this transaction is an important step forward for Transtar,” said Greg Gyllstrom, Chief Executive Officer of Transtar. “FFL has a long history of partnering with management teams to achieve a company’s business goals, and we look forward to working with them on this next chapter of our success story. We expect a seamless transition and are confident that this transaction will benefit our employees, customers and suppliers in the Greater Cleveland area and around the world.”
“We are excited to be partnering with the Transtar management team as the company enters its next phase of growth,” said Rajat Duggal, Managing Director at Friedman Fleischer & Lowe. “We believe that Transtar is well-positioned to maintain its industry leadership position by continuing to offer best-in-class customer service and the industry’s broadest product line. We look forward to working with Greg and his management team to capitalize on opportunities to grow the business.”
Since its founding in 1975, Transtar has pursued a philosophy of innovation and investment, backed by a singular focus on excellence in personalized service to customers. That dedication has resulted in a track record of success, with approximately 1,500 employees in 79 locations in North America in addition to selling into more than 80 countries.
As previously announced, FFL signed a definitive agreement to acquire Transtar Holding Company from Linsalata Capital Partners. The transaction was financed with $425 million of Senior Secured Credit Facilities. RBC Capital Markets and GE Capital Markets were Joint Lead Arrangers on the First Lien Term Loan Facility and RBC Capital Markets was Lead Arranger for the Second Lien Term Loan Facility.
Transtar is a worldwide distributor and remanufacturer of quality driveline parts and services to the motor vehicle replacement parts industry. The company distributes a product line consisting of automatic and standard transmission rebuilder kits, electrical components, Recon™ remanufactured torque converters and hard parts, and other driveline products. Growing for over three decades, the Transtar business has expanded to more than 70 locations in North America and 80 countries globally. For more information on Transtar, visit www.transtar1.com
Friedman Fleischer & Lowe
Friedman Fleischer & Lowe, LLC is a San Francisco-based private equity firm with approximately $2.5 billion under management that is focused on investing in U.S. middle-market companies. Formed in 1998, FFL’s strategy is to invest in market-leading companies that generate high returns on invested capital and that have strong, defensible competitive positions, attractive growth prospects and outstanding management. Representative investments include: Tempur-Pedic International, Discovery Foods, Milestone AV Technologies, CapitalSource, Korn/Ferry International, Guardian Home Care and GeoVera Insurance Group. For more information on Friedman Fleischer & Lowe, visit www.fflpartners.com