M&A Deal Summary

CoBe Capital Acquires Bus Parts Warehouse

On May 1, 1999, private equity firm CoBe Capital acquired distribution company Bus Parts Warehouse from HSBC Holding

Acquisition Highlights
  • This is CoBe Capital’s 1st transaction in the Distribution sector.
  • This is CoBe Capital’s 1st transaction in the United States.
  • This is CoBe Capital’s 1st transaction in New York.

M&A Deal Summary
Date 1999-05-01
Target Bus Parts Warehouse
Sector Distribution
Buyer(s) CoBe Capital
Sellers(s) HSBC Holding
Deal Type Divestiture

Target

Bus Parts Warehouse

Syracuse, New York, United States
Bus Parts Warehouse is a distributor of aftermarket school bus parts. Bus Parts supplies replacement parts, product upgrades, and special needs products for the school transportation industry. Bus Parts Warehouse stocks a wide variety of products manufactured by the major industry suppliers and has a strong focus on special needs products with a sales staff that is certified to instruct operators on how to properly secure wheelchair-bound occupants. Bus Parts Warehouse is based in Syracuse, New York.

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Buyer(S) 1

Buyer

CoBe Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CoBe Capital is a private equity firm focused on acquiring underperforming businesses as well as new platform companies (up to $1 billion in revenue) with good management. Sectors of interest include manufacturing, value-added distribution, and retail. Prospective companies generally have attractive gross margins, stable customers, under-utilized operating capacity, and significant competitive advantages. CoBe Capital was formed in 1994 and is based in New York City.

DEAL STATS #
Overall 1 of 16
Sector (Distribution) 1 of 2
Type (Divestiture) 1 of 14
State (New York) 1 of 1
Country (United States) 1 of 4
Year (1999) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-01 Stark Manufacturing

Paris, Arkansas, United States

Stark Manufacturing is a premier manufacturer of fabricated aluminum, steel, and copper tube and tube assemblies for a variety of industries, including automotive, aerospace, agricultural, heavy-duty and military. Stark Manufacturing is based in Paris, Arkansas.

Buy -

Seller(S) 1

SELLER

HSBC Holding

London, United Kingdom
Category Company
Founded 1865
Sector Financial Services
Employees214,400
Revenue 63.0B USD (2023)
DESCRIPTION

HSBC is a global banking and financial services company. HSBC dates back to 1865 and is based in London, United Kingdom

DEAL STATS #
Overall 1 of 10
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 9
State (New York) 1 of 1
Country (United States) 1 of 4
Year (1999) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1992-06-01 Midland Bank

Birmingham, United Kingdom

Midland Bank was a large banking firm serving retail and business customers across the United Kingdom. Midland Bank was formed in 1836 in headquartered in Birmingham.

Buy £3.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-28 Household International

Prospect Heights, Illinois, United States

Household International, Inc. is a consumer finance company.

Buy $14.2B
Mergr

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