ATD Raises $250 million
American Tire Distributors Inc (ATD) sold $250 million of senior secured second lien notes on the 144a private placement market on 19 May 2010, the IFR financial information service has reported. The news follows the announcement that North America’s largest independent tyre distributor changed hands for approximately US$1.3 billion on 21 April 2010 when Equity firm Texas Pacific Group (TPG Capital) purchased American Tire Distributors from Investcorp, Berkshire Partners and Greenbriar Equity Group.
The previous owners had acquired the distributor for $500 million in 2005.
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