Transamerican Auto Parts Acquires Four Wheel Drive HardwareLOS ANGELES--Feb. 14, 2006--Transamerican Auto Parts Company, LLC and its affiliated entities (collectively, "Transamerican Auto Parts") are pleased to announce the acquisition of Four Wheel Drive Hardware, LLC ("Four Wheel Drive Hardware" or the "Company"). Founded in 1977, the Columbiana, Ohio based Four Wheel Drive Hardware is a leading catalog and internet retailer of Jeep aftermarket parts and accessories. In addition, through its Performance Products division, Four Wheel Drive Hardware is a leader in Porsche, Mercedes, Toyota truck and domestic truck aftermarket parts and accessories. Terms of the transaction were not disclosed.
Senior management of Four Wheel Drive Hardware, led by President Barry Ryan, will continue to lead the Company after the acquisition.
"Transamerican Auto Parts is one of the largest automotive aftermarket parts and accessories companies in the country, and with the addition of Four Wheel Drive Hardware and Performance Products, they will now be a leader in the automotive aftermarket for Jeeps, Porsches, and Mercedes," said Barry Ryan, President of Four Wheel Drive Hardware.
"Our entire organization is excited about this acquisition," said Greg Adler, CEO of Transamerican Auto Parts. "Four Wheel Drive Hardware has done a terrific job in the catalog and internet Jeep business. Transamerican started in the Jeep business in 1961, and this acquisition brings us back to our roots. We see tremendous synergies between both of our great organizations, and we look forward to taking advantage of these opportunities."
"Four Wheel Drive Hardware is a great fit with Transamerican Auto Parts," said Bo Arlander, Senior Managing Director of BSMB, the lead investor that provided the equity for the transaction. "We look forward to growing the businesses and achieving synergies in this combination."
Kirkland & Ellis acted as legal counsel to Transamerican Auto Parts.
About Transamerican Auto Parts:
Founded in the fall of 1961, Transamerican Auto Parts is a leading participant in aftermarket parts and accessories for light trucks, Jeeps, sport utility vehicles, and other four-wheel drive vehicles. The Company sells tires and wheels, suspension systems, drivetrains, accessories, and other products (i) to consumers through 45 retail locations in 17 states under the 4 Wheel Parts Performance Centers name, (ii) to more than 4,000 wholesale customers, including specialty auto parts stores, tire and wheel stores, repair and garage shops, internet retailers and jobbers under the Transamerican Wholesale name, and (iii) to consumers and businesses through mail order and internet operations under the 4 Wheel Parts Wholesalers name. The Company also operates a manufacturing business that sells tires and wheels, suspension systems and accessories under the Pro Comp brand name, both through the Company's own distribution channels as well as through third parties. Transamerican Auto Parts is currently majority-owned by Bear Stearns Merchant Banking, the private equity affiliate of The Bear Stearns Companies, Inc. .
About Four Wheel Drive Hardware:
Founded in 1977 in Columbiana, Ohio, Four Wheel Drive Hardware is a leading catalog and internet retailer of Jeep, Porsche, Mercedes, Toyota truck and domestic truck aftermarket parts and accessories. The Company offers Jeep Wrangler, Jeep Cherokee and Jeep Grand Cherokee aftermarket parts and accessories through its "4WD" catalogs and website (www.4WD.com), and the Company offers Porsche, Mercedes, Toyota truck and domestic truck parts and accessories through its "Performance Products" catalogs and website (www.performanceproducts.com).
BSMB, the private equity affiliate of The Bear Stearns Companies, Inc., invests private equity capital in compelling leveraged buyouts, recapitalizations and growth capital opportunities alongside superior management teams. BSMB is currently investing its $1.5 billion institutional private equity fund. Since its inception in 1997, BSMB has been an investor in over 40 portfolio companies across a broad range of industries. In addition to Transamerican Auto Parts, recent investments by BSMB include: ACA Capital Holdings, Balducci's, CamelBak Products, Cavalry Investments, New York & Company, Reddy Ice, Seven For All Mankind, Stuart Weitzman and Vitamin Shoppe. More information about BSMB can be found at www.bsmb.com.