American Securities LLC has acquired FleetPride Inc. from TPG Capital. Financial terms of the transaction were not disclosed.
“Over the past three years, FleetPride has invested in building out its leadership team, enhancing internal processes and developing capabilities to strengthen its industry-leading market position. We are excited to partner with American Securities and believe that its internal resources and investment expertise will help accelerate our business plan and growth objectives,” says Al Dragone, FleetPride president and CEO.
“We are pleased to partner with Al and the rest of the FleetPride management team as they continue to execute on a strategy to drive above-market organic growth and further consolidate the industry,” says Will Manuel, a managing director, American Securities. “The company’s scale, best-in-class product offering, supply chain capabilities and strong management team create a sustainable competitive advantage and make FleetPride a strong fit for our investment strategy.”
TPG Capital’s Christopher Yipof says, “It’s been a pleasure to work closely with Al and the team throughout FleetPride’s transformation. We are proud of the strong momentum they’ve achieved and wish them continued growth and success with their new partners at American Securities.”