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Bain Capital Private Equity in exclusive discussions to acquire the Autodis Group from TowerBrook Capital Partners and Investcorp

September 27, 2015

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Bain Capital Private Equity, a leading global investment firm, announces that it has entered into exclusive discussions with TowerBrook Capital Partners and Investcorp in respect of the acquisition of the Autodis Group, a leader in aftermarket automotive parts distribution.

The proposed transaction will be submitted to the relevant works councils for their information and consultation. The proposed sale would also be subject to approval from the relevant competition authorities and could be completed in the coming months.

The Autodis Group, the leading distributor of aftermarket spare parts for light vehicles and trucks in the independent aftermarket segment in France, generated revenue of €1,170 million in 2014, including €1,057 million generated in France. For the first half of 2015, the Autodis Group generated revenue of €618 million (compared to €580 million for the first half of 2014).

“The Autodis Group is the market leader in France with a truly unique and robust business model. We would be excited to partner with the management team and affiliated distributors to drive continued growth and success of the Group,” said Michel Plantevin, a Managing Director of Bain Capital Private Equity. “We would bring differentiated experience of growing business-to-business distributors, such as IMCD, Brenntag, and Brakes, in their existing markets, and also internationally through acquisitions.”

Stéphane Antiglio, President of the Autodis Group, said: “Thanks to the support of our shareholders TowerBrook and Investcorp, the management and the teams of the Autodis Group have accomplished outstanding work over the last six years to reinstitute and develop the business. The contemplated sale to Bain Capital Private Equity, which would bring its experience and financial capacity to the Autodis Group, would allow the Autodis Group to enter into a new stage of growth and to actively continue its development with a stable management and a consistent strategy.”

In connection with the proposed transaction, it is currently contemplated that a portion of the Company's outstanding Senior Secured Notes would be redeemed utilizing the 10% annual Optional Redemption, but that the majority of such notes would remain outstanding as it is expected that the proposed transaction would qualify as a Specified Change of Control Event, thus not requiring the issuer to make a change of control offer to bondholders. The remainder of the purchase price would be funded through a combination of new equity from affiliates of Bain Capital Private Equity and third party financing.

About Autodis Group

Autodis Group (www.groupe-autodistribution.com) is a leading independent distributor of car and heavy goods vehicle parts in France and Poland. With more than 5500 employees in France and 1000 in Poland, the Group’s customers benefit from its experience and knowledge of multi-brand car and HGV parts. Autodistribution has pioneered the creation of a consortium of independent distributors, comprising 57 distributors of light and heavy goods vehicle parts. It also manages the first French network of independent garages and body shops (1900 companies) under the AD brand.

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 400 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

About TowerBrook Capital Partners

TowerBrook Capital Partners, L.P. is an investment management firm of US$8 billion under management as at June 30, 2015, and a track record of creating value for investors. The firm is based in Europe and the USA and focuses on making investments in European and North American companies. TowerBrook primarily pursues control-oriented investments in large and middle market companies, partnering with highly capable management teams and seeking situations characterised by complexity with a track record of creating value through growth, build-up and transformation strategies. Further information is available at www.towerbrook.com.

About Investcorp

Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in Bahrain, New York, London, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the U.S., Europe and the Gulf, real estate investment in the U.S and global hedge funds. As at June 30, 2015, the Investcorp Group had $10.6 billion in total assets under management (‘AUM’), including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM. Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.towerbrook.com.

This press release has been updated to reflect the new business unit name, "Bain Capital Private Equity," which was changed from "Bain Capital" or "Bain Capital, LP."