FleetPride has acquired Mandal Truck and Trailer, its fourteenth add-on acquisition in the past two years. Mandal Truck, like FleetPride is a distributor of aftermarket heavy-duty truck and trailer parts. The deal brings FleetPrides total locations in California to 20 and strengthens its presence in the agriculture rich San Joaquin valley. FleePride is owned by Investcorp and Banc of America Capital Investors.
Growing and developing portfolio companies through add-on acquisitions is a core strategy for many private equity investors. Since the beginning of 2009 252 private equity investors have completed an add-on acquisition. The three most active are The Carlyle Group with twelve, and The Riverside Company and Parthenon Capital Partners with 10 apiece. For the top 25 most active investors in add-ons, the Healthcare and Information Technology industries were of particular interest, accounting for over a third of their add-on activity.