Fleetpride plans $1.07 billion credit facilities for buyout

By Sara Rosenberg

New York, Nov. 19 – Fleetpride is planning on coming to market with $1.07 billion of credit facilities to help fund its acquisition by American Securities from TPG Capital, 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, the source said.

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

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

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