Alliance Automotive debt to be repaid in acquisition by Genuine Parts

New York, Sept. 25 – Alliance Automotive Group’s outstanding debt will be repaid as part of the acquisition of the company by Genuine Parts Co., according to a news release.

Alliance Automotive’s debt includes €540 million of 6¼% senior secured notes due 2021 and €100 million of floating-rate senior secured notes due 2021, both issued by Alliance Automotive Finance plc.

The companies announced the acquisition on Monday.

Genuine Parts will acquire Alliance Automotive from private equity funds managed by Blackstone and from Alliance’s co-founders for a total purchase price of $2 billion, a figure that includes repayment of Alliance’s debt at closing.

Completion is planned for the fourth quarter.

Alliance Automotive is a London-based distributor of vehicle parts, tools and workshop equipment.

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