Vulcan Energy gets $106 million funding from German ministry
Shares of Vulcan Energy surged as much as 16.8% to a more than 18-month high on Tuesday.
Persian Gulf-based Investcorp said on Tuesday it had sold US truck and trailer parts distributor FleetPride to TPG, one of the largest private equity investment firms, for more than $1 billion.
“FleetPride represents the type of core, mid-market corporate investment that we typically target in the U.S.,” said in the press release Steve Puccinelli, Managing Director at Investcorp and Head of Corporate Investment for North America and Europe.
FleetPride, a key player in the $22 billion US truck and trailer parts aftermarket, is also the largest truck and trailer parts distributor in North America, with a presence in key commercial and economic hubs throughout the U.S.
Since its acquisition of FleetPride in 2006, Investcorp has supported 31 different add-on acquisitions by the company, strengthening its cross-country supply chain and adding total acquired sales of over $270 million.
