Select your language

Advance Auto Parts sells Worldpac for $1.5 billion

United States. Advance Auto Parts, Inc. The U.S. announced the sale of its subsidiary Worldpac, Inc., a wholesale distributor of automotive parts, to Carlyle, a global investment firm, for $1.5 billion in cash.

The transaction, which will mark a significant shift in Advance's strategy, is expected to be completed before the end of 2024.

Shane O'Kelly, president and chief executive officer of Advance Auto Parts, said the sale will allow the company to focus on its core mixed box business. "With this transaction, our team will be able to focus on decisive actions to revitalize our core operations. The funds raised will provide greater financial flexibility to strengthen the balance sheet and invest in future growth," said O'Kelly. He also thanked Worldpac's more than 5,000 employees for their dedication over the past decade.

Wes Bieligk and Katherine Barasch, Carlyle executives, expressed their enthusiasm for the acquisition, highlighting the attractiveness of the market in which Worldpac operates. "Our experience in industrial divestitures uniquely positions us to support Worldpac as an independent company," they said. Carlyle has a strong track record in these types of operations, having invested $13 billion in industrial divestitures over the past two decades.

- Advertising -

Financial Impact and Transaction Details

Worldpac generated approximately $2.1 billion in revenue and $100 million in EBITDA over the last year. Advance Auto Parts is expected to receive about $1.2 billion in net income after taxes and transaction-related costs.

Centerview Partners and Hogan Lovells US, LLP, advised Advance on this transaction, while Carlyle was advised by BofA Securities, BMO Capital Markets and Latham & Watkins.

 


No comments

• If you're already registered, please log in first. Your email will not be published.

Leave your comment

In reply to Some User
Hankook Launches iON Tire, Designed for Electric and Plug-in Hybrid Vehicles

Hankook Launches iON Tire, Designed for Electric and Plug-in Hybrid Vehicles

International. Hankook has unveiled its new iON tire, specifically designed to meet the needs of battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs).

High repair costs and restricted access to parts hit consumers hard

High repair costs and restricted access to parts hit consumers hard

United States. A new report presented by the Car Coalition reveals the growing difficulties consumers face due to high repair costs and limited access to affordable parts.

Pirelli launches the fifth generation of the P Zero with cutting-edge technology

Pirelli launches the fifth generation of the P Zero with cutting-edge technology

International. Pirelli has unveiled the new generation of its iconic P Zero tyre, designed to improve performance and safety in driving.

New U.S. tariffs will affect 7.3 million imported vehicles

New U.S. tariffs will affect 7.3 million imported vehicles

United States. The tariffs will come into force on April 2 and will affect what represents 8% of global trade and 44% of sales of light vehicles in the country, according to a report by Bank of...

PPG Opens Water-Based Automotive Coatings Plant in Thailand

PPG Opens Water-Based Automotive Coatings Plant in Thailand

International. PPG has commissioned a new water-based automotive coatings manufacturing facility in Samut Prakan, Thailand.

Standard Motor Products Expands Catalog with 170 New Part Numbers

Standard Motor Products Expands Catalog with 170 New Part Numbers

United States. Standard Motor Products, Inc. (SMP) announced the release of 170 new part numbers in the first quarter of 2025, expanding its coverage for next-generation imported and domestic...

Trump announces new tariffs on cars

Trump announces new tariffs on cars

United States. President Donald Trump announced on Wednesday, March 26, the imposition of a 25% tariff on all cars imported into the United States.

Exclusive interview: Quality Centro Automotriz: A benchmark in automotive repair, winner of the CALA Awards 2025

Exclusive interview: Quality Centro Automotriz: A benchmark in automotive repair, winner of the CALA Awards 2025

Latin America. Quality Centro Automotriz, located in Cuenca, Ecuador, was recognized as the 'Best Repair Workshop' at the CALA Awards 2025, held at the AutoAméricas Show.

GSP North America Announces New Senior Account Manager for Mexico

GSP North America Announces New Senior Account Manager for Mexico

United States. GSP North America announced the appointment of Abel Camacho as Senior Account Manager for Mexico.

GM bans the only aftermarket solution for Apple CarPlay and Android Auto in its electric vehicles

GM bans the only aftermarket solution for Apple CarPlay and Android Auto in its electric vehicles

United States. General Motors has blocked the installation of an aftermarket solution that allowed Apple CarPlay and Android Auto compatibility on its Ultium electric vehicle platform.

Suscribase Gratis
Remember Me
SUBSCRIBE TO OUR ENGLISH NEWSLETTER
SITE SPONSORS










LATEST NEWSLETTER
Monthly Newsletter