American Capital Buys Majority Stake in Imperial Supplies
American Capital Buys Majority Stake in Imperial Supplies
Jason Sandefur
American Capital Strategies Ltd. paid $112 million for a majority stake in Imperial Supplies LLC, an MRO distributor of fasteners and electrical components to truck fleet and facility-based markets. The funding was provided as a senior term loan, senior and junior subordinated debt and preferred and common equity. American Capital is also providing a revolving credit facility.
Bethesda, MD-based American Capital now owns a majority of Imperial, with Imperial management holding a minority stake.
“Imperial holds a unique position in an industry whose growth is supported by the increase in truck transportation volumes and the aging of fleets,” commented American Capital managing director Gregg Newmark.
Founded in 1958, Green Bay, WI-based Imperial distributes over 20,000 high margin products across 15 maintenance, repair and operations categories, including fasteners, electrical products, chemicals and paint, air brake products and vehicle parts. Imperial serves more than 7,250 customers in 14 major end markets. Imperial has distribution facilities in Green Bay; Charlotte, NC; Reno, NV; and Dallas, TX. Web: imperialinc.com �2007 FastenerNews.com
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