FleetPride launches $190 million credit facility

By Sara Rosenberg

New York, June 7 - FleetPride Corp. held a bank meeting on Wednesday to launch its proposed $190 million credit facility, according to a market source.

Bank of America and Deutsche Bank are the lead banks on the deal.

The facility consists of a $40 million revolver and a $150 million term loan, the source said.

Proceeds are being used to back the already completed acquisition of FleetPride by Investcorp, Banc of America Capital Investors and members of management from an investor group led by Aurora Capital Group and including Brentwood Associates and certain pension and endowment funds.

FleetPride is a Woodlands, Texas, supplier of truck and trailer parts services.

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