FleetPride, Inc., an aftermarket distributor of heavy-duty truck and trailer parts backed by Investcorp., acquired the assets of Mandal Truck and Trailer, Inc. in Lathrop, California. The deal is FleetPride’s 14th acquisition since Investcorp purchased the company from Aurora Capital Group and Brentwood Associates in 2006 for $506 million. Bank of America also participated in the deal, which included $160 million term loan B, a $40 million first lien revolver, and $150 million senior bridge loan.
FleetPride, Inc., the nation’s largest independent aftermarket distributor of heavy-duty truck and trailer parts, announced today that it is furthering the company’s long-term growth strategy by acquiring the assets of Mandal Truck and Trailer, Inc. in Lathrop, California. This acquisition includes a lease of the 11,520 square foot facility dedicated to truck and trailer parts and service and brings the total number of FleetPride locations in California to 20. Mandal Truck and Trailer’s previous owner, Ed Castles, will stay on in the role of Branch Manager and employment offers were extended to all employees.
“Mandal Truck and Trailer is located along the I-5 corridor and serves the agriculture industry in the San Joaquin valley as well as high-tech companies, quarries, lumber mills and timber product producers in the foothills and mountains to the east. Lathrop, California is a strategic geographic compliment to our existing branch locations in the region. It strengthens our mid-California footprint by shortening the distance between our existing branch locations in the state and will be well-served from the Visalia distribution center,” said Steve Turnlund, Regional Manager.
“Acquiring Lathrop will allow for significant growth and product line expansion going forward. Easy access to a broad array of heavy-duty truck and trailer products enables both our local and national customers to establish a local source for just-in-time inventory,” explained Mike Paxton, Vice President Business Development and Strategic Planning.
About FleetPride, Inc.
FleetPride, Inc. (www.fleetpride.com)—America’s premier nationwide supplier of heavy duty truck and trailer parts — operates 190 locations in 39 states and carries a full line of nationally recognized brand name parts, as well as an assortment of exclusive brand parts. In addition, FleetPride offers in-house remanufactured products such as brake shoes and driveline components. Truck and trailer repair services are also offered at a number of locations.
FleetCare (www.fleetcare.info) — America’s premier heavy duty truck and trailer service center network — has over 185 service providers across the country. FleetCare offers services for all makes and models at all locations, 24/7 toll-free locator service, dedicated website, highly trained technicians, brand name parts, nationwide parts warranty and roadside assistance in many locations.
SOURCE FleetPride, Inc.