FRANCE - TowerBrook to take over Autodistribution in French "pre-pack"

The deal reportedly includes a EUR 110 equity injection, and if accepted by a majority of the creditors, the company's debt would be reduced by EUR 460m to EUR 140m, according to reports.

Investcorp, which acquired the business in a secondary buyout believed to be in the region of EUR 600-800m, is expected to re-invest alongside TowerBrook and retain a smaller stake. Citigroup provided a debt package to support the 2006 transaction.

Headquartered in Morangis, Autodistribution is an independent distributor of auto, truck and industrial parts in France. Its products are distributed through a network of 130 wholesalers running 600 distribution outlets of which one third are independent affiliates.

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• Buyouts
• France
• Industrials