FleetPride to Be Purchased by TPG

Heavy-duty truck and trailer parts supplier FleetPride Inc. said it has agreed to be acquired by private equity firm TPG.

The transaction is expected to close in the fourth quarter, FleetPride said Tuesday. Terms were not disclosed.

TPG already is involved in industrial distribution and the vehicle aftermarket sector. The investment firm owns tire wholesaler American Tire Distributors and chemicals distributor Nexeo Solutions.

The buyout of FleetPride comes three weeks after an Aug. 24 announcement that it would acquire Great Lakes Truck & Trailer for an undisclosed sum.