Fleetpride $1.07 billion credit facilities likely January business

By Sara Rosenberg

New York, Jan. 10 – Fleetpride’s $1.07 billion of credit facilities are expected to come to market this month, according to a market source.

Barclays is the lead bank on the deal.

The facilities consist of a $225 million ABL revolver, a $620 million first-lien term loan and a $225 million second-lien term loan, a source previously told Prospect News.

Proceeds will be used to help fund the buyout of the company by American Securities from TPG Capital.

Total leverage will be about 6.3 times on pro forma adjusted Oct. 31 EBITDA of $136 million.

Fleetpride is an Irving, Texas-based distributor of aftermarket heavy-duty truck and trailer parts.

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