Deal snapshot: TPG SELLS HALF OF AMERICAN TIRE STAKE TO ARES FUND.
MANews-(C)2009-2015
A fund managed by the private equity group of Ares Management, L.P. (NYSE: ARES) has entered into an agreement to acquire a significant stake in US-based American Tire Distributors, Inc., resulting in equal ownership between Ares and current majority shareholder TPG Capital LP, American Tire said. American Tire Distributors is one of the largest independent suppliers of tires to the North American replacement tire market. It operates more than 140 distribution centres, including 25 distribution centers in Canada, serving approximately 80,000 customers across the US and Canada.
Country: USA
Sector: Motor...
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