THE WOODLANDS, Texas, April 28 /PRNewswire/ -- FleetPride, Inc., the
nation's largest independent aftermarket distributor of heavy-duty truck and
trailer parts, announced today that it has finalized the acquisition of Keller
Truck Parts, Inc. Keller has 11 locations across Delaware and Maryland.
Maryland locations include Annapolis Junction, Baltimore (two branches),
Elkton, Frederick, Gaithersburg, Hagerstown, Landover, and Waldorf. Delaware
locations include Dover and Wilmington.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080317/LAM084LOGO)
Keller Truck Parts was founded in 1971 by Wayne and Donald Keller and has
grown into Maryland and Delaware's leading heavy-duty replacement parts
specialist. FleetPride has extended employment to all of the Keller employees
including industry veterans Curt Ackerman and Robert White who will continue
as Area Manager and Area Operations Manager for the acquired Keller
operations.
"When the time came to plan for the continuation of our business, we
investigated numerous companies. In the end, we decided that FleetPride was
the best fit for Keller Truck Parts and its employees. Both organizations
have similar management philosophies with a focus on putting the customer
first. This growth opportunity will ensure the future success of our legacy,"
said Wayne Keller, President of Keller Truck Parts.
"The acquisition of Keller Truck Parts fills a significant void in our
footprint and provides us with a seasoned, dedicated and loyal employee base
from which to grow our business," said Todd Dunn, FleetPride President and
CEO. "The Keller organization has operated in these local markets for over 35
years and is the leading independent distributor in the area. We are thrilled
to have them join the FleetPride family," said Dunn.
"We reviewed other opportunities in the area, but this is the one that
fit," said Pete Painter, FleetPride's Vice President Southeast Region.
"Maryland and Delaware are new markets for FleetPride. The Keller Truck Parts
acquisition will bridge the gap between FleetPride's Chantilly, Virginia and
Carlisle, Pennsylvania branches allowing us to better serve our local and
national account customers," said Painter.
FleetPride is owned by affiliates of Investcorp, Banc of America Capital
Investors and management.
About FleetPride, Inc.
FleetPride, Inc. (http://www.fleetpride.com) -- America's premier
nationwide supplier of heavy duty truck and trailer parts -- operates 176
locations in 38 states and carries a full line of nationally recognized brand
name parts, as well as an assortment of private brand parts. In addition,
FleetPride offers in-house remanufactured products such as brake shoes,
transmissions, rear axles and driveline components. Truck and trailer repair
services are also offered at a number of locations.
About FleetCare
FleetCare (http://www.fleetcare.info) -- America's premier heavy duty
truck and trailer service center network -- has over 170 service providers
across the country. FleetCare offers services for all makes, models and
locations, 24/7 toll-free locator service, dedicated website, highly trained
technicians, brand name parts, nationwide parts warranty and roadside
assistance in many locations.
About Investcorp
Founded in 1982, Investcorp is a leading provider and manager of
alternative investment products with more than $15 billion in assets under
management as of December 30, 2007. It has offices in the Kingdom of Bahrain,
London and New York and is publicly traded on the Bahrain Stock Exchange
(INVCORP) and the London Stock Exchange (IVC). The firm has five lines of
business: private equity, hedge funds, real estate, technology investment and
Gulf growth capital.
In addition to FleetPride, Investcorp's current private equity investments
include: Randall-Reilly, a business-to-business media and data company in the
US; Berlin Packaging, a leading supplier of custom and stock rigid packaging
in the US; Icopal, the world's leading producer of roofing and waterproofing
membranes; Moody International, a global provider of technical and inspection
services and management systems; and Armacell, a leading global manufacturer
of engineered foams. Past private equity investments by Investcorp include:
Tiffany & Co., Gucci, Prime Equipment, Carter's, Simmons, Leica, Jostens and
APCOA.
Further information on the firm is available at http://www.investcorp.com.
About Banc of America Capital Investors
Banc of America Capital Investors (http://www.bacapitalinvestors.com) is a
private equity partnership that manages over $2 billion of capital for Bank of
America.
SOURCE FleetPride, Inc.
Melinda Riley, Marketing Manager of FleetPride, Inc., +1-832-592-9953
