Houlihan Lokey Advises TruckPro
Houlihan Lokey is pleased to announce that TruckPro Holding Company (TruckPro), a portfolio company of Harvest Partners, has been acquired by Platinum Equity. The transaction closed on October 15, 2019. Houlihan Lokey served as financial advisor to TruckPro.
Headquartered in Memphis, Tennessee, and founded in 1958, TruckPro is a leading distributor of heavy-duty truck and trailer products and provider of advanced repair services. Through a distribution network of more than 150 locations and advanced service shops throughout the United States and Canada, TruckPro delivers a comprehensive range of products to support commercial and government customer requirements in the areas of brake systems, electrical, engines, gear and drivetrain, and more. TruckPro is recognized for delivering measurable value and outstanding support to its customers and suppliers alike. Vast application expertise makes TruckPro an unbiased knowledge resource for product information and training.
Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the consumer and business services, healthcare, industrial services, and manufacturing and distribution sectors. This strategy leverages Harvest Partners' decades of experience in financing organic and acquisition-oriented growth companies.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions, and operations—a trademarked strategy it calls M&A&O®—acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 25 years, Platinum Equity has completed more than 250 acquisitions.
Houlihan Lokey's Specialty Distribution team has earned a reputation for working with premier specialty distribution clients, providing superior client service, and delivering outstanding results. This transaction highlights the firm's continued success advising market-leading specialty distribution and mission-critical replacement parts businesses.
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