OHA Leads Private Financing Supporting FleetPride’s Merger with TruckPro

Rhea-AI Summary

Oak Hill Advisors (NASDAQ: TROW) led and served as Administrative Agent and Lead Left Arranger on a private unitranche financing that supports the recapitalization and merger of FleetPride with TruckPro announced Nov 3, 2025.

OHA is the largest holder of the new debt facility and has lent to FleetPride for over a decade. The firms expect the combination to generate operational and cost synergies to expand product availability, speed delivery, and enhance service nationwide. OHA reported it manages approximately $98 billion of capital as of June 30, 2025; American Securities manages over $23 billion.

Positive

• OHA assets under management approximately $98 billion as of June 30, 2025
• American Securities AUM over $23 billion
• Combined market scale of FleetPride and TruckPro as largest U.S. heavy-duty aftermarket distributors

Negative

• None.

Insights

credit strategist

OHA led a private unitranche to finance FleetPride’s merger with TruckPro, enabling a combined aftermarket distributor scale.

Transaction mechanics: Oak Hill Advisors acted as Administrative Agent and Lead Left Arranger for a private unitranche financing that supports the recapitalization and merger of FleetPride and TruckPro. OHA is the largest holder of the new debt facility and has been a lender to FleetPride for over a decade, which aligns lender control and information with the sponsor, American Securities.

Dependencies and risks: The combined business depends on realizing the referenced operational and cost synergies to justify the financing and merger economics. Execution risks include integration of distribution networks, inventory rationalization, and service alignment; any delays would pressure covenant compliance or refinancing flexibility for the unitranche lender group.

What to watch and horizon: Monitor near-term integration milestones, synergy capture, and any disclosed financing covenants or amortization schedule over the next 12–24 months. Also note OHA’s scale: it manages approximately $98 billion and the sponsor group manages $23 billion, which indicate capital resources backing the deal.

New York, New York, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Administrative Agent and Lead Left Arranger for a private unitranche financing supporting the recapitalization and merger of FleetPride, Inc. (“FleetPride”) with TruckPro, LLC (“TruckPro”), the two largest distributors of aftermarket parts for heavy-duty trucks in the United States. FleetPride is a portfolio company of American Securities.

OHA is the largest holder of the newly raised debt facility, reinforcing its long-standing relationship with FleetPride as a lender to the company for over a decade. Leveraging its fundamental understanding of the business, deep expertise in the automotive aftermarket sector and trusted partnership with the sponsor, OHA was able to deliver strategic insights and executed the financing with speed and precision.

“We are pleased to support the merger of these two industry-leading businesses, reflecting our continued conviction in American Securities’ strategic vision for FleetPride,” said Eric Muller, Partner and Portfolio Manager at OHA. “This transaction will unlock significant operational and cost synergies, enabling the combined business to better serve customers nationwide with broader product availability, faster delivery and enhanced service offerings.”

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About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately $98 billion of capital across credit strategies, including private credit, high yield bonds, leveraged loans, stressed and distressed debt and collateralized loan obligations as of June 30, 2025. OHA’s emphasis on long-term partnerships with companies, sponsors and other partners provides access to a proprietary opportunity set, allowing for customized credit solutions across market cycles.

With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.

About FleetPride: FleetPride, Inc. is a leading national distributor of aftermarket parts and a full-service provider for the U.S. heavy-duty truck industry. The company carries a wide array of parts, including brakes, drums, engine systems, electrical, axle, wheel end, and drivetrain, and offers over 1 million SKUs across 490 brands and 320 product categories, including its own private label offering. It also offers service and repair for heavy-duty trucks and trailers across the United States.

About TruckPro: TruckPro, LLC is one of the largest independent distributors of heavy-duty aftermarket truck parts and accessories in the U.S. TruckPro distributes a full range of products that cover maintenance and repair events for substantially all major OEMs of heavy-duty vehicles. Founded in 1958, TruckPro sells its products to over 35,000 customers in numerous end markets, including small, regional and national trucking companies; private fleets; waste services companies; construction companies; municipalities and independent repair shops.

About American Securities: Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $23 billion under management. For more information, visit www.american-securities.com.

Natalie Harvard, Head of Investor Relations & Partner
Oak Hill Advisors, L.P.
212-326-1505
nharvard@oakhilladvisors.com

Kristin Celestino, Vice President, Public Relations
Oak Hill Advisors, L.P.
817-215-2934
kcelestino@oakhilladvisors.com

FAQ

What financing did Oak Hill Advisors (TROW) provide for the FleetPride and TruckPro merger on Nov 3, 2025?

OHA acted as Administrative Agent and Lead Left Arranger on a private unitranche financing supporting the companies' recapitalization and merger.

Will the FleetPride and TruckPro merger create cost or operational synergies according to the Nov 3, 2025 announcement?

Yes; the companies said the transaction is expected to unlock significant operational and cost synergies to improve product availability and delivery.

How large is Oak Hill Advisors (TROW) in private credit as of June 30, 2025?

OHA manages approximately $98 billion of capital across credit strategies as of June 30, 2025.

Does the Nov 3, 2025 release disclose the dollar size of the unitranche financing for FleetPride and TruckPro?

No; the announcement does not disclose the specific dollar amount of the new debt facility.

Who sponsors FleetPride in the merger announced Nov 3, 2025?

FleetPride is a portfolio company of American Securities, which has more than $23 billion under management.

How does the merger intend to affect customers according to the Nov 3, 2025 statement?

The combined business is described as aiming to serve customers nationwide with broader product availability, faster delivery, and enhanced service offerings.