TPG-backed American Tire Distributors (ATD) refiles for an IPO that could raise $500 million
ATD, North America's largest replacement tire distributor, refiled on Monday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely a placeholder. We estimate it could raise $500 million or more. The company originally filed for a $230 million IPO in February 2010 as American Tire Distributors but that April it was acquired by the private equity firm TPG for $1.3 billion.
The Huntersville, NC-based company was founded in 1935 and booked $3.6 billion in sales for the 12 months ended March 31, 2014. BofA Merrill Lynch, Deutsche Bank, Goldman Sachs, Barclays, J.P. Morgan and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.