TruckPro LLC, a portfolio company of private equity firm Harvest Partners LP, has acquired CCI Corp., a provider of commercial vehicle parts, for an undisclosed price.
The deal marks an exit for Glenview, Ill.-based Illinois Tool Works Inc. (NYSE: ITW), which acquired the Gifu, Japan-based target in 2008. CCI has roughly 100 retail stores and service shops located throughout the U.S. and Canada.
The sale comes as deals among auto parts makers and private equity firms continue to percolate.
Madison Capital Funding, JPMorgan Chase Bank, CIT Finance, Ally Commercial Finance and NXT Capital provided senior debt financing for the transaction.
Guggenheim Corporate Funding provided subordinated debt financing while White & Case served as adviser to TruckPro.
TruckPro, a Memphis-based distributor and repair service of heavy duty truck and trailer products, tapped law firm White & Case LLP as legal counsel. PE-backer Harvest Partners is currently investing out of sixth fund, Harvest Partners VI, which has raised about $1.125 billion in capital commitments.
For more coverage on ITW, see “Illinois Tool Works Purchases Kitchen Equipment Maker from Actis.”