Unitas sees 3x return on Australia auto parts turnaround
Unitas Capital has secured a 3.3x return on its investment in Australian car parts supplier Exego, after selling the business to US-based Genuine Parts in two tranches worth a combined $950 million, including debt. The private equity firm was unable to comment on the specifics of the transaction but it is understood to have gained $440 million on an initial investment of $192 million.
Genuine Parts bought 30% of Exego - best known for operating auto repair stores under the Repco brand - for $150 million last January. It agreed to pick up the remainder of the business for $800 million,...
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