M&A Deal Summary

Greenbriar Equity Group, Investcorp and Berkshire Partners Acquire ATD

On February 8, 2005, private equity firm Greenbriar Equity Group, asset manager Investcorp and private equity firm Berkshire Partners acquired distribution company ATD from Charlesbank Capital Partners for 700M USD

Acquisition Highlights
  • This is Greenbriar Equity Group’s 1st, Investcorp’s 1st and Berkshire Partners’ 2nd transaction in the Distribution sector.
  • This is Greenbriar Equity Group’s , Investcorp’s 6th and Berkshire Partners’ 2nd largest (disclosed) transaction.
  • This is Greenbriar Equity Group’s 5th, Investcorp’s 36th and Berkshire Partners’ 32nd transaction in the United States.
  • This is Greenbriar Equity Group’s 1st, Investcorp’s 2nd and Berkshire Partners’ 2nd transaction in North Carolina.
Investment Fate
  • ATD was sold to a consortium of financial buyers in 2010 for 1.3B USD.

M&A Deal Summary
Date 2005-02-08
Target ATD
Sector Distribution
Buyer(s) Greenbriar Equity Group
Investcorp
Berkshire Partners
Sellers(s) Charlesbank Capital Partners
Deal Type Secondary Buyout
Deal Value 700M USD

Target

ATD

Huntersville, North Carolina, United States
ATD is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 130 distribution centers, including 24 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. ATD was established in 1935 and is based in Huntersville, North Carolina.

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Buyer(S) 3

Buyer

Greenbriar Equity Group

Rye, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.

DEAL STATS #
Overall 5 of 45
Sector (Distribution) 1 of 6
Type (Secondary Buyout) 1 of 20
State (North Carolina) 1 of 1
Country (United States) 5 of 40
Year (2005) 2 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-12 Electro-Motive Diesel

Lagrange, Illinois, United States

Electro-Motive Diesel designs, manufactures, and sells diesel-electric locomotives for the commercial railroad applications in the United States and internationally. The company provides railway transport and diesel engine solutions for intercity passenger, commuter, switching, freight, industrial, and mining applications. It also provides diesel power engines for marine propulsion, offshore and land based oil well drilling rigs, and stationary power generation, as well as OEM parts and services for rail, marine, and power generation applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Western Peterbilt

Seattle, Washington, United States

Western Peterbilt, Inc. is a operator of heavy-duty truck dealerships in the Pacific Northwest. Company operates a network of sixteen locations from Alaska to Northern California that provide one-stop service for the needs of its customers, including the retail sale of new and used transportation equipment, aftermarket parts sales, scheduled full-service maintenance, random arrival repair services, short-term truck rental, long-term full service leasing, and financing.

Buy -
Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.

DEAL STATS #
Overall 54 of 176
Sector (Distribution) 1 of 11
Type (Secondary Buyout) 8 of 58
State (North Carolina) 2 of 2
Country (United States) 36 of 81
Year (2005) 1 of 3
Size (of disclosed) 6 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-06 PlayPower

Huntersville, North Carolina, United States

PlayPower is a manufacturer of commercial playground systems and recreational equipment. With operations in both the US and Europe, the Company manufactures and markets a wide range of innovative products including commercial playground equipment, floating docks and boat/personal watercraft lifts, contained play systems, site amenities, and other related products. PlayPower is based in Huntersville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-09 ObjectStar International

Mississauga, Ontario, Canada

ObjectStar provides a software platform which integrates old systems with contemporary enterprise applications. It uses a business rule engine and a comprehensive set of front-end and back-end gateways to maximize the ability of developers, integrators and corporate IT staffs to build integrated applications.

Sell -
Buyer

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 35 of 100
Sector (Distribution) 2 of 4
Type (Secondary Buyout) 3 of 21
State (North Carolina) 2 of 4
Country (United States) 32 of 88
Year (2005) 3 of 7
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-12 Electro-Motive Diesel

Lagrange, Illinois, United States

Electro-Motive Diesel designs, manufactures, and sells diesel-electric locomotives for the commercial railroad applications in the United States and internationally. The company provides railway transport and diesel engine solutions for intercity passenger, commuter, switching, freight, industrial, and mining applications. It also provides diesel power engines for marine propulsion, offshore and land based oil well drilling rigs, and stationary power generation, as well as OEM parts and services for rail, marine, and power generation applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-18 The Holmes Group

Milford, Massachusetts, United States

The Holmes Group, Inc., is a manufacturer of kitchen and home comfort products.

Sell $420M

Seller(S) 1

SELLER

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.

DEAL STATS #
Overall 14 of 50
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 3 of 15
State (North Carolina) 2 of 2
Country (United States) 12 of 46
Year (2005) 1 of 1
Size (of disclosed) 6 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-04 Captain D s

Nashville, Tennessee, United States

Captain D's owns, operates, and franchises some 500+ restaurants in 25 states, plus military bases around the world. Captain D's offers its customers great seafood at reasonable prices in a relaxed environment. Captain D's was formed in 1969 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-12 GSI Holdings

New York,, New York, United States

GSI Holdings is a manufacturer of grain storage and protein production systems . The company is engaged in the the trade of fabrics, apparels, raw materials, scientific instruments, and other machinery.

Buy -
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