M&A Deal Summary

Platinum Equity Acquires TruckPro

On October 16, 2019, private equity firm Platinum Equity acquired automotive company TruckPro from Harvest Partners Private Equity

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Automotive sector.
  • This is Platinum Equity’s 83rd transaction in the United States.
  • This is Platinum Equity’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2019-10-16
Target TruckPro
Sector Automotive
Buyer(s) Platinum Equity
Sellers(s) Harvest Partners Private Equity
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Houlihan Lokey (Financial)
White & Case (Legal)

Target

TruckPro

Cordova, Tennessee, United States
TruckPro is an independent distributor of heavy-duty aftermarket truck parts and accessories in the U.S. TruckPro distributes a full range of products that cover maintenance and repair events for substantially all major OEMs of heavy-duty vehicles. TruckPro sells its products to over 35,000 customers in numerous end markets, including small, regional and national trucking companies; private fleets; waste services companies; construction companies; municipalities and independent repair shops. TruckPro, Inc. was founded in 1958 and is based in Memphis, Tennessee.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 103 of 148
Sector (Automotive) 4 of 5
Type (Secondary Buyout) 18 of 41
State (Tennessee) 1 of 3
Country (United States) 83 of 116
Year (2019) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 WS Packaging

Green Bay, Wisconsin, United States

WS Packaging, Inc. is a domestic pressure sensitive label manufacturers. The Company prints a broad range of high-quality pressure sensitive labels for clients engaged in the food, beverage, personal care, household, commercial, promotional, industrial, direct mail, and pharmaceutical markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 Cision

Chicago, Illinois, United States

Cision is a provider of PR software and services including content marketing, media monitoring, media list building, distribution and analysis. Cision's software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision is based in Chicago, Illinois.

Buy $2.7B

Seller(S) 1

SELLER

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.

DEAL STATS #
Overall 25 of 30
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 12 of 17
State (Tennessee) 1 of 1
Country (United States) 22 of 27
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-28 Integrity Marketing Group

Dallas, Texas, United States

Integrity Marketing Group is a distributor of life and health insurance products focused on serving the senior market. Integrity Marketing Group was founded in 2006 and headquartered in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-01 Yellowstone Landscape

Plano, Texas, United States

Yellowstone Landscape is a provider of a variety of landscaping services to commercial, governmental and institutional customers located in the Southeastern United States and Texas.

Buy -
Mergr

Product

Company

Legal