(MENAFN) Bahrain- based alternative investment firm Investcorp Bank BSC is said to have been seeking a buyer for its FleetPride Inc., which may be valued at USD1 billion, Bloomberg reported, citing three people familiar with the matter.
Investcorp acquired Texas-based truck- parts distributor FleetPride with the company's management team in 2006 for an undisclosed sum.
The company has currently 250 stores across the US, selling parts and accessories for heavy-duty trucks, and operates more than 200 Fleetcare service locations, according to its website.
Investcorp, which manages about USD12 billion in assets, runs a portfolio of firms including Sur La Table, a Seattle-based kitchenware retailer, and IPH Group, a French distributor of industrial supplies.
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