AURELIUS Private Equity to acquire Teijin Automotive Technologies North America

Aurelius Capital
  • The large-scale vertically integrated manufacturer is the North American leader in the design, engineering, and production of advanced composite materials serving the automotive, heavy truck, marine, and recreational vehicle sectors
  • The business generated more than USD 1 billion in revenues in 2024
  • First US-advised transaction by AURELIUS’ recently opened New York office

New York, March 31, 2025 – AURELIUS Private Equity Mid-Market Buyout announces the acquisition of Teijin Automotive Technologies North America (‘TAT-NA’), the leader in advanced composite technologies for the automotive, heavy truck, marine and recreational vehicle sectors, from Japanese ultimate parent company Teijin Limited. This acquisition marks the first transaction advised by the AURELIUS Investment Advisory team in New York, just months after opening its office addressing the North American market.

Headquartered in Auburn Hills, Michigan, TAT-NA employs approximately 4,500 personnel and generates annual revenues exceeding USD 1 billion. With 14 locations across the US and Mexico, the business specializes in the development and production of advanced composite components for the global automotive and transportation industries. TAT-NA’s vertically integrated operating model and market-leading scale provides defensible assets and capabilities to sustain long-standing supply relationships with key OEMs in North America.

AURELIUS will support new growth opportunities for the standalone TAT-NA business, whose unique, durable lightweight composite product offering is powertrain agnostic and hence ideally positioned to meet long-term demand for Class A and structural vehicle components.

“Teijin Automotive Technologies North America has a long history of supplying key players across the North American automotive industry. We are particularly proud of this acquisition as it represents our first transaction advised out of our recently opened New York office. Among other areas, specialists in our Operations Advisory team will focus on delivering a range of value-creation initiatives across the network of manufacturing sites, while also driving operational excellence through enhanced quality and efficiency,” stated Stephan Mayerhausen, Managing Director at AURELIUS Investment Advisory and Head of AURELIUS’ New York Office.

“We are excited about the opportunities ahead for us as we partner with the resources and support of the AURELIUS team,” said Chris Twining, CEO of TAT-NA. “The AURELIUS Operations Advisory team is dedicated to ensuring we maintain our market leadership, and I am looking forward to working with them as we continue to develop new material technologies while improving our operations, efficiency and quality.”

AURELIUS was advised by Greenhill, a Mizuho affiliate (M&A), Baker McKenzie (Legal), EY (Financial, Tax), AON (Insurance) and Ramboll (Environment).

About AURELIUS

AURELIUS is a globally active private equity investor, distinguished and widely recognised for its operational approach. It focuses on Private Equity, Private Debt and Real Estate. Its key investment platforms include AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth (Wachstumskapital). AURELIUS has been growing significantly in recent years, particularly expanding its global footprint, and today employs approximately 400 professionals in 9 offices spanning Europe and North America.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, and has built a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions. For more information visit www.aurelius-group.com.

About Teijin Automotive Technologies North America

Teijin Automotive Technologies North America specializes in the development and production of advanced composite components – including carbon and glass fiber – for the automotive and transportation industries. The company is a leader in composite formulations with a focus on providing automakers with lightweight, durable products that enable design and packaging flexibility. Headquartered in Auburn Hills, Michigan, USA, Teijin Automotive Technologies North America has 14 operations in the U.S. and Mexico and employs more than 4,500 people. For more information visit teijinautomotive.com.

Media contact for questions regarding the transaction:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7785 722 191

Media contact for questions specific to Teijin Automotive:
Kim Zitny
Director, Corporate Communications +1 248 535 6944

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Easelink awarded €11.5 million funding to advance automated EV charging standardisation

SET Ventures

The European Innovation Council (EIC) has awarded Easelink €11.5 million in funding for its pioneering EV Matrix Charging® technology. This financial support underlines the strategic fit between Easelink’s goal of setting the standard for automated EV charging with the European Union’s objective to drive carbon neutrality by promoting EVs and their integration into a smart energy system.

Easelink succeeded in the most competitive EIC funding round to date. The 2nd phase of the EIC Accelerator closed in October 2024 with 1,211 submitted applications. Of these applications, the jury invited 431 (36%) to interviews in Brussels and 71 companies received funding.

“We are delighted about the EIC support. It underlines that our standardisation efforts are in line with the EU’s electrification strategy.” says Hermann Stockinger CEO and founder of Easelink. “When it comes to automated charging interoperability is key. At Easelink we are not only tech innovators in the field of charging. We also see ourselves as a reliable entity that ensures and protects the global cross-brand interoperability of Matrix Charging.”, he further emphasizes. To achieve this, Easelink is establishing worldwide partnerships in the automotive and energy sectors with great progress currently being made in Europe, China and Japan. Together with selected OEMs and other key players, Easelink is working on the next necessary standardisation steps alongside the ongoing Matrix Charging® series development.

To prepare Matrix Charging®’s commercialisation and its market launch Easelink is now seeking further technology funding in the form of venture capital. Easelink’s Matrix Charging® system provides a fully automated charging experience, eliminating the need to manually plug in an EV. The system consists of a vehicle unit and a charging pad installed on the parking space. It is compatible with most major electric vehicle platforms and is available in retrofit and factory-installed options. This cost-effective and energy-efficient automated charging system is suitable for both premium and volume segment vehicles.

About Easelink

Easelink is a high-tech company headquartered in Graz, Austria, and dedicated to the development of the automated conductive charging solution “Matrix Charging®” for electric vehicles. The innovative character of Easelink can be seen in its many patents and trademarks. Easelink, with sites in Austria and China, currently has 40 employees and actively contributes to various standardization bodies for charging technology, such as the relevant working groups of the Charging Interface Initiative (CharIn), the International Electrotechnical Commission (IEC) and the International Organization for Standardization (ISO). Within the framework of cooperative projects, a number of leading automotive manufacturers and suppliers, infrastructure providers and vehicle fleet operators are already making use already of the innovative Matrix Charging® technology.

About Matrix Charging® by Easelink

With the Matrix Charging® technology, the electric vehicle is charged automatically without the need to manually plug in a charging cable. As soon as the vehicle is positioned above a fixed charging pad in the parking lot, the Matrix Charging® Pad, a so-called Connector is lowered from the underbody of the vehicle. The Connector connects to the Matrix Charging® Pad fully automatically.

Patricia Krenn, MSc
Head of Marketing & Communications
Mobil: +43 (0) 676 848 741 220
Email: patricia.krenn@easelink.com
Webpage: www.easelink.com

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Carlyle Builds a Diversified Global Auto Components Platform by Combining Highway and Roop

Carlyle

The deal underscores Carlyle’s commitment to invest in world-class advanced manufacturing enterprises in India and globally

Mumbai and New Delhi, India, February 13, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced it has completed the acquisition of a controlling stake in Highway Industries Limited (“Highway”) and Roop Automotives Limited (“Roop”) (together “the Platform” or “Platform Entity”) through a proprietary and exclusive transaction. Equity for the investment will come from investment funds affiliated with Carlyle Asia Partners (CAP).

Highway and Roop are among the leading players in manufacturing forged and precision-machined components, steering system assemblies, transmissions and other powertrain applications for electric, hybrid and internal combustion engine (ICE) powered vehicles. Over the last 30 years, the Platform has built a comprehensive product range of over 1,500 products, an extensive global clientele of 55 customers across 17 countries, and an expansive manufacturing footprint of 12 plants and 14 international warehouses. Carlyle intends to deepen its investments in the auto components space and will seek to add synergistic assets to the Platform.

The founders of Highway and Roop will continue to hold stakes in the Platform, underscoring their commitment to the long-term success of the companies. Carlyle will work with Highway and Roop to help them leverage operating synergies and create capabilities and capacities, to deliver enhanced value for their customers.

Amit Jain, Managing Director and Head of Carlyle India Advisors, said: “We believe India offers a tremendous opportunity in the advanced manufacturing sector, particularly in the auto components supply chain for both domestic and export markets. In our view, this provides a large-scale opportunity for the Platform. We believe creating scale with consolidation will enable investments in technology, talent and systems, which will allow the Platform to deliver an enhanced value proposition for its customers. We are excited to partner with Highway and Roop to build this Platform. Carlyle is well-placed to accelerate the growth of the Platform by leveraging our worldwide network and investments in the automotive sector globally.”

Mohit Oswal, Managing Director of Roop, said: “Roop has been an industry pioneer in the manufacturing of steering components and assemblies. For over 30 years, we have built strong expertise in our target applications and established deep relationships with our customers globally. Our partnership with Carlyle and Highway makes us even stronger and allows us to provide holistic solutions to our customers and value-add to all stakeholders.”

“At Highway, we have been at the forefront of driving technology-led growth for our customers globally and in India. With Carlyle’s investment and the partnership with Roop, I am confident that we will deliver on our collective commitment to drive innovation and broaden offerings for our clients,” said Umesh Munjal, Managing Director of Highway.

Mr. Oswal will serve as Non-Executive Chairperson of the Board for the Platform Entity. Additionally, Mark Blaufuss, Operating Executive at Carlyle with over 30 years of leadership experience in the automotive and manufacturing sectors; and Kishore Saletore, former Executive Director and Group CFO at Bharat Forge Limited, with over three decades of diverse industry experience, will join the Platform Entity’s Board of Directors.

KPMG, Trilegal, Kotak and Deloitte acted as advisors to Carlyle for the transaction. Singhi Advisors and KPMG acted as the financial advisors to Highway and Roop shareholders, respectively.

Carlyle’s buyout funds, including Carlyle Asia Partners, have deep experience investing in the Advanced Manufacturing or Industrial sector, and have invested over US$32 billion of equity in over 125 deals globally as of December 31, 2024, with approximately US$1.1 billion of this in Asia.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With US$441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

About Highway

Founded in 1971, Highway is one of India’s fastest growing manufacturers of mission critical powertrain sub-systems and components for global automotive customers across North America, Europe, and Asia. Highway’s focus on engineering excellence, innovation and customer service for more than 50 years has enabled it to establish multi-decade relationships with global automotive clients that are based on quality and trust. Highway has more than 3,000 skilled employees.

 

About Roop

Founded in 1992 and headquartered in Haryana, Roop is an industry leader in the manufacturing of steering sub-systems and assemblies, and the largest manufacturer of steering yokes globally. Roop has developed unique engineering strengths and expertise in manufacturing critical automotive parts through decades of R&D and a team of more than 400 engineers. Roop prides itself as a leading solutions provider for steering system manufacturers globally for over 30 years. Roop exports largely to North America and Europe.

 

Media Contacts:

Carlyle

Lonna Leong

Tel: +852 9023 1157

E-mail: lonna.leong@carlyle.com

 

Adfactors PR 

Manibalan Manoharan

Tel: +91 9833949919

E-mail: manibalan.manoharan@adfactorspr.com

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Nordic Capital-backed Cary Group expands into France through acquisition of 123 Pare-Brise

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Nordic Capital

Cary Group, a European market leader in vehicle glass repair and replacement (VGRR) services, has signed an agreement to acquire 51% of the French company 123 Pare-Brise, a leading independent VGRR specialist in France.

Founded in 2020 and headquartered in Marquette-lez-Lille and Bourgoin-Jallieu, 123 Pare-Brise operates a network of 129 owned workshops across France. The acquisition provides Cary Group with a strategic entry into the French VGRR market, which has significant size and growth potential. As a leading player in the French market, 123 Pare-Brise operates with a fully integrated network of workshops and a business model that is focused on direct-to-consumer sales. The company employs just under 900 employees with total sales of approximately 100 MEUR.

The acquisition of 123 Pare-Brise is a significant milestone for Cary Group as we continue to expand our presence in Europe. The French market for repair, replacement and calibration of vehicle glass is an important part of the European market. The acquisition of 123 Pare-Brise is a natural step in our consolidation journey and strengthens Cary Group’s position in Europe. We are impressed by the strong growth of the company, the exceptional quality of their services and workshop network and we look forward to working closely with their talented team“, says Anders Jensen, CEO of Cary Group.

We are excited to join forces with Cary Group, a company that shares our commitment to quality and customer satisfaction. This partnership will enable us to leverage Cary Group’s resources and expertise to further enhance our services and expand our reach in the French market”, says Norbert Sibert, Alberic Bienvenu and Ludovic Vaesken, founders of 123 Pare-Brise.

The current management team of 123 Pare-Brise, will remain in place to ensure continuity and drive the company’s growth post-acquisition.

Cary Group’s acquisition strategy focuses on platform acquisitions to enter new geographic markets, add-on acquisitions to strengthen its presence in existing markets, and smaller acquisitions to improve its footprint and achieve additional scale. Over the past four years, Cary Group has made several key platform acquisitions, including Autoglass Clinic and Touring Glass in Belgium, Dansk Bilglas in Denmark, Autoglas in Luxemburg, Expressglass in Portugal, Auto Cristal Ralarsa in Spain, and Zentrale Autoglas in Germany. These acquisitions have not only increased revenue but also established Cary Group in new markets, contributing to the consolidation of the highly fragmented European VGRR market.

For further information, please contact:

Helene Gustafsson, Head of Corporate Communication, Cary Group
Tel: +46 70 868 40 50
Email: Helene.gustafsson@carygroup.com

 

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

 

About 123 Pare-Brise

Founded in May 2020 by industry experts, 123 Pare-Brise is a French brand specializing in the repair and replacement of all types of auto glass. With fast, reliable and accessible services, it has established itself as a benchmark player in France. 123 Pare-Brise is based in the Hauts-de-France and Auvergne Rhône Alpe regions of France and relies on a branch network to guarantee consistent quality of service in all its centres. With its strong workforce, the company will have 130 centres by early 2025 and has a clear ambition: to become the leading independent integrated network in France.

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Altor divests Nordic Tyre Group to Axcel

Altor Fund IV(“Altor”) have signed an agreement to divest Nordic Tyre Group (“NTG”), the leading independent tyre wholesaler across the Nordics and Baltics, to Axcel Fund VII (“Axcel”).

In 2019, Altor entered a partnership with the founders of Gummigrossen and Rengasduo with the joint ambition to build a Nordic leader within the tyre wholesaler industry. Today, Nordic Tyre Group is the largest independent tyre wholesaler across the Nordics and Baltics with a diversified group of more than 10 000 customers and long-standing relations with 200 suppliers. The company is built on a proprietary technology platform providing a unique competitive advantage.

“Altor established Nordic Tyre Group with the ambition to build the leading tyre wholesaler across the Nordics and Baltics and they have worked with an entrepreneurial mindset to support the management team to realize that mission. It has been an incredible journey and our achievements have been a result of teamwork and a shared vision. Now, our sights are set on European roads together with Axcel” said Patrick Bergander, CEO of Nordic Tyre Group.

“Nordic Tyre Group has grown from a tech-enabled challenger in Sweden to become the leading independent tyre wholesaler across the Nordics and Baltics. We are truly impressed by the achievements of the management team and employees and we are proud to have been part of this journey. We look forward to seeing the company continue its growth journey together with Axcel” said Stian Tuv, Principal at Altor.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Wrist Ship Supply, Trioworld, Eleda, OX2 and Nordic Climate Group.

About Nordic Tyre Group

Nordic Tyre Group is the leading independent tyre distributor across the Nordic and Baltic markets. The company was founded in 2019 through the merger of two leading tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland. Since then, the Group has expanded to Norway and the Baltics through acquisitions of Starco, Gummi-Centralen, Dekkteam, Dekk1 and Latakko, and is today present across six markets.

About Axcel

Founded in the Nordics in 1994, Axcel is a leading private equity group investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer.  Our team across Copenhagen, Stockholm and Frankfurt draws on 30 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. We currently own 19 companies and have made a total of 72 platform investments, over 375 add-on acquisitions and 53 exits.

For more information, visit www.axcel.com.

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Vitu Signs Agreement to Acquire Dealertrack Registration and Titling Businesses from Cox Automotive

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AKKR Logo

AGOURA HILLS, Calif., November 25, 2024 –Vitu, a leading innovator in Vehicle-to-Government (V2Gov) technology, today announced it has entered into a definitive agreement to acquire the Dealertrack registration and titling businesses from Cox Automotive. The registration and titling businesses include RTS (Registration and Titling Solutions), RegUSA (Nationwide Title and Registration), Accelerated Title, and CMS (Collateral Management Services). This sale does not impact any other Cox Automotive Dealertrack solutions or services.

“The Vitu vision is to drive the digital future of titling and registration,” said Don Armstrong, co-founder and CEO at Vitu. “By bringing together the expertise, experience, and strengths of the Dealertrack and Vitu teams, we will enhance our ability to better serve dealers, lenders and governments today and pave the way for the digital titling and registration ecosystem of tomorrow.”

The Dealertrack registration and titling businesses offer comprehensive services through the Collateral Management Services (CMS) and Registration and Titling Solutions (RTS) platforms. CMS provides business outsourcing and a self-management platform for vehicle title administration, including Accelerated (expedited) Title services, which connect dealer and lender networks to expedite title releases during vehicle trade-in and loan payoff. RTS offers registration and titling services for both in-state and out-of-state vehicle sales and inquiries.

“As we looked at ways to strategically accelerate our growth, it was clear to all parties that the Dealertrack CMS and RTS business lines and team members would benefit from being a part of the dedicated focus and long-term vision at Vitu. Independently, we’ve delivered value to customers through straightforward software, visionary solutions, and exceptional service. This acquisition enhances our strengths, broadens our offerings, and deepens our industry impact,” added Armstrong. “These products and the team behind them have the track record and expertise that will fit perfectly into the Vitu family and flourish as part of our team.”

Terms of the agreement are not being disclosed. The transaction is subject to customary closing conditions.

About Vitu
Providing cutting-edge services to the motor vehicle industry, the Vitu Platform manages in-state EVR (Electronic Vehicle Registration), out-of-state title and reg across all 50 states with Vitu Interstate and digitally processed E-Titling with NTX, making it easier than ever to secure vehicle titles from anywhere in the nation. Vitu redefines the standard for digital vehicle transactions with one single platform and unmatched support. Vitu operates throughout the United States.

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Carlyle Completes Worldpac Acquisition from Advance Auto Parts

Carlyle

CHICAGO, IL, November 4, 2024 – Worldpac, Inc. is announcing the completion of its acquisition by Carlyle (NASDAQ: CG), a global investment firm, from Advance Auto Parts, Inc. (NYSE: AAP). This strategic move marks a significant milestone for Worldpac, positioning the company for enhanced growth and innovation.

Effective immediately, John Hamilton is appointed as the new President and CEO of Worldpac. Hamilton brings a wealth of experience across a variety of industries, having served as President and CEO at Veyance Technologies, Electro-Motive Diesel, and the Tokheim Corporation, as well as Executive Chairman of the Board at EDAC Technologies and Nordco Inc. Hamilton has also been an advisor to Carlyle for several years.

As part of this leadership transition, Bob Cushing, currently serving as President of Worldpac, will assume the role of Strategic Advisor. “I want to extend my thanks to Bob for his leadership and vision,” Hamilton said. “His guidance has been instrumental in shaping Worldpac’s important role in the industry and I look forward to working closely with him as Strategic Advisor.”

“I want to thank the Carlyle team for recognizing Worldpac’s achievements and potential with their investment in Worldpac’s future. Carlyle’s investment will accelerate Worldpac’s growth and continued focus on delivering ‘The Right Part at the Right Time’,” said Cushing.

“We are thrilled to invest in Worldpac,” said Wes Bieligk, Partner at Carlyle. “Worldpac is a great business, and we are confident that our experience in the automotive aftermarket and with industrial carve-outs will support its growth as an independent company. We look forward to supporting John and the Worldpac team in achieving its strategic goals and unlocking its full potential.”

 

Forward-Looking Statements

Certain statements in this release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations regarding the benefits of the sale, the anticipated timing of closing, and the expected use of proceeds. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to Advance Auto Parts’ most recent Annual Report on Form 10-K filed with the SEC for a description of these risks.

 

For further information, please contact:

Carlyle

Brittany Berliner

(212) 813-4839

Brittany.Berliner@carlyle.com

 

Worldpac

Jay Potter

(800) 888-9982

 

About Carlyle:

Carlyle (NASDAQ: CG) is a global investment firm with $435 billion of assets under management as of June 30, 2024. Carlyle operates through three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. The firm employs over 2,200 people across 29 offices worldwide. For more information, visit www.carlyle.com.

 

About Worldpac:

Worldpac is a leading distributor of original equipment automotive replacement parts, serving the independent automotive repair community with over 160,000 part numbers from 45+ import and domestic car manufacturers. With over 100 facilities in North America, WORLDPAC ensures fast delivery and superior service, complemented by their speedDIAL ordering software, training programs, and technical support. For more information, visit www.worldpac.com.

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MOTORMIA fuels its AI-powered automotive platform with $8M in funding

Seedcamp

Car enthusiasts are one of the most sophisticated and fastest-growing communities yet continue to be underserved by the traditional automotive industry.

We are excited to partner up with MOTORMIA, a new automotive enthusiast platform on a mission to revolutionise the automotive aftermarket industry through AI. Founded in January 2023 by Isaac Bunick, a serial entrepreneur and operator, with multiple CRO experiences, including at our portfolio company Rossum, MOTORMIA provides a consumer AI experience – called MIA – that personalizes the connection between enthusiasts and their vehicles, fostering deeper relationships with manufacturers and service providers.

MIA is designed as a modding partner, build advisor, and performance analyst. It can tailor users’ experiences to various levels of knowledge, generate AI vehicle renderings, make performance upgrade suggestions, and help users understand the best choices for specific build goals.

Users add vehicles to the platform and set build and performance goals. Mia then provides curated recommendations, all of which are adjustable to their level of mechanical experience. Users can interact with the AI assistant to request Mia’s favorites, search for specific brands, ask for further suggestions, and save planned product upgrades to their builds. Sharing their existing modifications and build progress with friends and other users is encouraged.

Isaac Bunick, founder and Chief Enthusiast Officer, highlights:

“Our mission is to transform and enrich the aftermarket experience for enthusiasts, manufacturers and service professionals. By delivering a seamless consumer AI experience, Mia can make the enthusiast lifestyle more accessible and enjoyable for everyone.”

Since its public beta release in 2024, MOTORMIA has attracted hundreds of thousands of enthusiasts.

On why we partnered with Motormia, our Venture Partner Andy Budd comments:

“We’ve had the pleasure of working with Isaac during his time at Rossum, where his talent for driving growth was evident. So when he told us about Motormia, we were excited to be involved from day one. As a hardcore petrolhead, it made perfect sense for Isaac to dive into the car modding community, and honestly, it’s a space that’s been crying out for fresh ideas. His plan to use AI to help enthusiasts unlock even more potential in their projects felt like a game-changer. Since we backed him, Isaac and the Motormia team have made huge strides, and I can’t wait to see what they bring to SEMA this year.”

We are excited the participate in MOTORMIA’s $8 million funding round alongside  Lerer Hippeau, QP Ventures, Verissimo Ventures, State of Mind Ventures, Deftly.vc, and Alumni Ventures.

MOTORMIA will exhibit at the upcoming SEMA Show in Las Vegas, Nevada, from November 5 to 8, in booth 11179 in the North Hall of the Las Vegas Convention Center.

For more information about MOTORMIA, please visit www.motormia.co.

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Accent Equity-owned Malte Månson has completed the acquisition of Skandinaviska Buss & Truck

Accent Equity

  • Malte Månson expands to northern Sweden through the acquisition of Skandinaviska Buss & Truck AB (SBTAB)
  • The acquisition adds three strategically located workshops to the network, bringing the total to 30 workshops across Sweden following the transaction
  • SBTAB’s founders and key management has re-invested alongside Accent Equity and Malte Månson management

Malte Månson expands its operations to northern Sweden by acquiring Skandinaviska Buss & Truck AB (SBTAB), with workshops in Söderhamn, Sundsvall and Edsbyn. SBTAB is authorized to service Mercedes-Benz trucks and vans, VDL buses, and EVO buses.

The workshops in Söderhamn and Sundsvall are renowned for their excellent service and have received numerous awards and recognition over the years for high quality and availability.

The Söderhamn workshop offers service and repair for Mercedes trucks, vans and passenger cars, as well as multi-brand services for trucks, trailers, buses, and construction machinery.

In Sundsvall, SBTAB offers not only sales and service of Mercedes’ truck programs but also multi-brand truck service, service for heavy-duty transport refrigeration, and specializes in trailer repairs.

“I am very excited about having Morgan Parment and Samuel Andersson and all the employees, who have built the excellent operations of SBTAB, on the Malte Månson team. I am impressed by the high customer satisfaction SBTAB have achieved, owing to their skillful and knowledgeable staff. SBTAB is perfectly aligned with the way Malte Månson operates, and I am certain that this transaction will strengthen our group further”, says Staffan Lindewald, CEO of Malte Månson.

The owners of SBTAB will remain in their current roles and have chosen to reinvest a significant portion of the purchase price in Malte Månson:

“We are very pleased to join Malte Månson and are making a substantial reinvestment as part of the transaction. We look forward to becoming a part of the group and contributing to the continued growth and development of the chain”, says Samuel Andersson, CEO of SBTAB.

 

“We have taken SBTAB to a new level in a short period of time and I am proud of what the team has accomplished. The transaction will further strengthen us and provides an opportunity to accelerate expansion. Shared values with a focus on customer satisfaction and personnel were key when selecting a new growth partner. We are really looking forward to the journey together with the Malte Månson team”, says Morgan Parment, site manager in Sundsvall and co-owner of SBTAB.

Following the transaction, Malte Månson will have 30 workshops across the country with an annual turnover of approximately 800 million SEK.

For additional information, please contact:

Mikael Strand, Chairman Malte Månson, +46 70 542 50 01,
mikael.strand@accentequity.se

Staffan Lindewald, CEO Malte Månsson, +46 70 829 91 21, staffan.lindewald@maltemanson.com


About Malte Månson:
Malte Månson is the largest independent service and repair provider of commercial vehicles in Sweden. The company’s history dates back to 1918 and it currently operates 18 workshops across the country with c. 180 employees. In 2023 the company generated sales of c. SEK 415 million.
www.maltemanson.com

About Skandinaviska Buss & Truck:
Skandinaviska Buss & Truck AB (SBTAB) is authorized for service & repair of Mercedes-Benz trucks and vans, VDL buses, and EVO buses. The company operates three workshops and employs c. 40 people. It is the largest workshop of its kind in Norrland. In 2023 the company generated sales of c. SEK 190 million.
www.sbtab.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
Follow Accent Equity on LinkedIn

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Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion

Carlyle

Sale simplifies Advance’s enterprise structure and sharpens focus on the blended box business

Net proceeds to be used primarily to strengthen balance sheet and invest in the business

RALEIGH, N.C., August 22, 2024 – Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced that it has entered into a definitive agreement to sell Worldpac, Inc., an automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle (NASDAQ: CG) for $1.5 billion in cash. The transaction is expected to close before the end of the year.

“We are pleased to announce the sale of the Worldpac business,” said Shane O’Kelly, president and chief executive officer. “The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business. Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the productivity of the company’s remaining assets and better position the company for future growth and value creation. On behalf of everyone at Advance, I would like to thank the more than 5,000 Worldpac team members for their dedication over the last ten years.”

“We are excited to partner with Worldpac, a great business operating in attractive markets,” said Wes Bieligk, a Partner, and Katherine Barasch, a senior member of Carlyle’s Global Industrials investing team. “Our proven track record in executing complex carve-outs position us uniquely to support Worldpac and its team as an independent company.”  Carlyle’s investment in Worldpac builds on the firm’s extensive carve-out experience in the Industrials sector, having invested ~$13 billion in industrial carve-outs over the past two decades, including in such companies as Axalta, Nouryon, Atotech, Signode, and Allison Transmission.

Transaction Details

  • Over the last twelve months, at the end of the second quarter of 2024, the Worldpac business generated approximately $2.1 billion in revenue and approximately $100 million in EBITDA.

  • Advance expects net proceeds of approximately $1.2 billion after taxes and transaction fees.

Centerview Partners is serving as financial advisor and Hogan Lovells US, LLP, is serving as legal advisor to Advance on the transaction. BofA Securities is acting as lead financial advisor to Carlyle and BMO Capital Markets is also acting as a financial advisor to Carlyle.  Latham & Watkins is serving as legal advisor to Carlyle.

Investor Conference Call 

As previously announced, the company has scheduled a webcast to begin at 8 a.m. Eastern Time today, to discuss results for the second quarter ended July 13, 2024. During the webcast, the company will provide additional information on the Worldpac transaction. The webcast will be accessible via the Investor Relations page of the company’s website (ir.AdvanceAutoParts.com).

About Advance Auto Parts

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of July 13, 2024, Advance operated 4,776 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,138 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

Investor Relations Contact:

Lavesh Hemnani

T: (919) 227-5466

E: invrelations@advanceautoparts.com

Media Contacts:

Darryl Carr

T: (984) 389-7207

E:  AAPCommunications@advance-auto.com

Carlyle

Brittany Berliner, (212) 813-4839

Brittany.Berliner@carlyle.com

 

Forward-Looking Statements 

Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the sale of Worldpac, including statements regarding the benefits of the sale and the anticipated timing of closing, the expected use of proceeds and expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the company’s views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the company’s ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, deterioration of general macroeconomic conditions, geopolitical conflicts, the highly competitive nature of the industry, demand for the company’s products and services, the company’s ability to consummate the sale of Worldpac on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy the other conditions to the closing, the company’s use of proceeds and ability to maintain credit ratings, access to financing on favorable terms, complexities in the company’s inventory and supply chain and challenges with transforming and growing its business.  Please refer to “Item 1A. Risk Factors” of the company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by the company’s subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.

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