Harvest Partners’ TruckPro Acquires CCI
Harvest Partners, a New York-based private equity firm, said its portfolio company TruckPro, a distributor of heavy duty truck and trailer parts and repair services, has purchased CCI Corporation from Illinois Tool Works. Terms of the transaction were not disclosed.
Senior debt financing for the transaction was provided by a consortium led by Madison Capital Funding, JPMorgan Chase Bank, CIT Finance, Ally Commercial Finance and NXT Capital. Guggenheim Corporate Funding provided subordinated debt financing. White & Case advised TruckPro.
Simon Roberts, Paige Daly, James Mitchel and Daniel Bise of Harvest Partners also worked on the transaction.
CCI is a network of commercial vehicle parts and service locations, with 100 retail stores, service shops and distribution center locations in the U.S. and Canada.
Harvest said the acquisition substantially increases the scale and scope of TruckPro’s operations. The newly combined company has 165 locations, a truly national footprint, a significant Canadian presence and a strengthened product and service offering in the gearing and drivetrain categories.