Our dedicated Automotive Aftermarket team is widely recognized in the industry, providing our clients with a broad range of services including:
Our proven transaction execution capabilities, combined with our leading industry expertise in every aftermarket niche and channel, has allowed BB&T Capital Markets to build strong relationships with the industry’s leading companies, executives, and private equity investors. The results are evident in our track record: from 2009 through 2013, BB&T Capital Markets has closed more automotive aftermarket merger and acquisition deals than any other firm and we have managed every automotive aftermarket public equity offering.
On December 2, 2014, BB&T Capital Markets served as a co-manager for a $225 million offering of 5.375% senior notes due 2024 by Tenneco Inc. This high yield deal represents our first bond transaction with Tenneco. Proceeds from the transaction are being used for a tender offer of $225 million of Tenneco’s outstanding 7.75% senior notes and the redemption of any such notes not tendered.Read More
BB&T Capital Markets’ Automotive Aftermarket Group served as a co-manager in Axalta Coating Systems’ $975 million initial public offering. Axalta is a portfolio company of The Carlyle Group.Read More
On July 29, 2014, COBB Tuning Products, an automotive aftermarket designer and manufacturer of premium performance products for small displacement, turbocharged engines, was acquired by Auto Meter Products and Promus Equity Partners. COBB Tuning was previously owned by New Value Capital and Trey Cobb. Terms of the transaction were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to COBB Tuning and New Value Capital. This was BB&T’s fifth sell-side transaction in the $30 billion Specialty Equipment (“SEMA”) aftermarket in less than two years. The BB&T team expects the transaction pace in the SEMA market to continue. Speaking about the transaction, Jonathan Carey, head of BB&T’s Automotive Aftermarket Investment Banking team said, “We are thrilled to have successfully helped New Value Capital and Trey Cobb find a partner to fuel Cobb’s growth. Having also sold Auto Meter to Promus Equity just last year we are excited to have played an important role in Promus’ continued growth in the automotive aftermarket.”Read More
On March 4, 2014, CURT, a leading manufacturer and distributor of branded aftermarket towing and cargo management solutions, was acquired by Audax Group, a Boston-based private equity firm. Terms of the agreement were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to CURT, a portfolio company of Chicago-based Pfingsten Partners, in the transaction. “Pfingsten has been a solid partner to me and my executive team, and we accomplished a great amount in a relatively short period of time,” said CURT CEO Greg Hooks. “That said, my team and I are very excited to join the Audax family as we continue to execute upon our organic and inorganic growth initiatives." Jonathan Carey, head of BB&T Capital Markets' Automotive Aftermarket Group, added, "CURT is a true leader in its space with unmatched management talent and capabilities. It was a great outcome for Pfingsten and their partners at CURT. We are also excited to see CURT embark on its next phase of growth and are confident that Audax and the team at CURT will be an enormously successful partnership.”Read More
On November 20, 2013, Caliber Collision Centers (“Caliber”), a leading operator of collision repair centers throughout the U.S. and an operating company of Toronto, Canada-based private equity firm ONCAP, was acquired by OMERS Private Equity. Terms of the agreement were not disclosed. BB&T Capital Markets served as financial advisor to Caliber and ONCAP in the transaction. The sale of Caliber represents BB&T Capital Markets' fifth sale of a major collision repair chain in the last five years.Read More
On October 24, 2013, Holley Performance Products, an aftermarket marketer and supplier of high-performance auto parts, and a portfolio company of New York-based Monomoy Capital Partners, was acquired by Lincolnshire Management, a New York-based private equity firm. Terms of the agreement were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to Holley and Monomoy Capital Partners in the transaction.Read More
On September 20, 2013, SCT Holdings ("SCT") was acquired by an affiliate of Global Environment Fund. Terms of the agreement were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to SCT and Tillery Capital, SCT's controlling shareholder. SCT is a leading supplier of engine and transmission calibration products for the performance automotive aftermarket and light-duty fleets. SCT's branded products are embraced by automotive enthusiasts seeking to increase a vehicle's performance, and more recently, fleet operators who recognize tremendous fuel savings by using SCT's fleet products. www.sctflash.comRead More
On June 17, 2013, BB&T Capital Markets served as a co-manager for a $300 million offering of 3.85% senior notes due 2023 by O’Reilly Automotive, Inc. Proceeds from the transaction are being used for general corporate purposes. This transaction represents the fourth such offering by O’Reilly since the beginning of 2011 to which BB&T Capital Markets has been invited.
On May 31, 2013, Auto Meter Products, Inc. ("Auto Meter"), a portfolio company of St. Louis-based Harbour Group, was acquired by Promus Equity Partners, LLC, a Chicago-based private equity firm. Terms of the agreement were not disclosed. BB&T Capital Markets served as the exclusive financial advisor to Auto Meter and Harbour Group in the transaction.Read More
On August 20, 2012, The Carlyle Group, together with management and employees of Service King Collision Repair Centers, completed a transaction to acquire majority ownership in the largest independent U.S. chain of auto body repair shops. Founder Eddie Lennox will retain a significant ownership stake in Service King. BB&T Capital Markets served as financial advisor to Service King in this transaction.Read More
Accessories, Appearance, Collision Parts, Heavy Duty, Paint, Performance, Recreational Vehicles, Remanufacturers, Specialty Chemicals & Lubricants, Specialty Products, Systems Technology Providers, Tires, Tools & Equipment, Traditional Hard Parts, Marine
Accessories and Performance, Broadline WD’s, Collision (PBE), Commercial Distributors (DIFM), Jobbers, OES Distributors, Specialty Distributors, Tires & Wheels, Whole Vehicle & Salvage Vehicle Auctions, Heavy Duty, Recreational Vehicles, Marine
Tire and Service Retailers, Quick Lube, Auto Parts Stores, Accessories and Performance, Catalog, New Vehicle Dealers, On-line Retailers, Used Vehicle Dealers, Other Specialty Retail, Collision Repair, Transmission Repair, Franchise Groups