Los Angeles, CA — Transamerican Auto Parts (“TAP” or the “Company”) has obtained a revolving credit facility from Wells Fargo Retail Finance. The financing will allow TAP to refinance pending maturities, lower its cost of capital, finance growth and consolidate its stakeholder base. FocalPoint Securities, LLC (“FocalPoint”) served as exclusive financial advisor to TAP.
TAP is a leading participant in aftermarket parts and accessories for light trucks, Jeeps, sport-utility vehicles and other four-wheel drive vehicles. The Company sells tires, wheels, suspension systems, drive trains, accessories, and other products to consumers through 55 retail locations in 17 states under the 4 Wheel Parts Performance Centers name, to more than 5,000 wholesale customers including specialty auto parts stores, tire and wheel stores, repair and garage shops, internet retailers and jobbers under the Transamerican Wholesale name and to consumers and businesses through mail order and seven e-commerce websites. The Company has been proudly providing its core customer base of four-wheel drive enthusiasts with innovative, high-quality products since 1961.
Greg Adler, President and Chief Executive Officer, stated, “Transamerican is on solid footing with this financing. We have addressed our maturities with this arrangement which also provides sufficient liquidity for growth. We will continue to be an excellent partner for our vendors, wholesale partners and especially our core enthusiast customers.”
Dan Conway, Managing Director at FocalPoint, commented, “We are pleased to have advised TAP on this successful financing. The Company has a unique and very compelling culture and business model and has performed very well in this economic environment under the guidance of an excellent management team and Board of Directors. We were able to communicate these attributes and achieve a successful result for our client.”
About Transamerican Auto Parts
Based in Los Angeles, California, TAP is a leading participant in aftermarket parts and accessories for light trucks, Jeeps, sport-utility vehicles and other four-wheel drive vehicles. The Company sells tires, wheels, suspension systems, drive trains, accessories, and other products to consumers through 55 retail locations in 17 states under the 4 Wheel Parts Performance Centers name, to more than 5,000 wholesale customers including specialty auto parts stores, tire and wheel stores, repair and garage shops, internet retailers and jobbers under the Transamerican Wholesale name and to consumers and businesses through mail order and seven e-commerce websites. The Company also owns three established brands: Pro Comp Tire & Wheel, Pro Comp Explorer and Smittybuilt.
TAP has been proudly providing its core customer base of four-wheel drive enthusiasts with innovative, high-quality products since 1961. For more information, please visitwww.transamericanautoparts.com.
About FocalPoint
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and distressed transactions. The firm serves middle market clients throughout the U.S.
Please contact Daniel Conway at 310-405-7010 with any questions about this transaction.