American Trailer Works, a manufacturer and distributor of utility and cargo trailers based in Southlake, has agreed to be acquired by private investment firm Bain Capital Private Equity, the companies announced Jan. 4.
The company is being acquired from an investor group managed by Southlake Equity Group.
Terms of the transaction were not disclosed.
Through its 12 plants, American Trailer Works sells trailers through independent dealers and national retailers under the PJ Trailers, Carry-On Trailer, RC Trailers and other private-label brand names.
Bain Capital plans to merge American Trailer Works with Big Tex Trailers, a manufacturer of utility trailers in North America, to create a newly-formed company. Bain Capital closed its acquisition of Mount Pleasant-based Big Tex in December 2015.
“Uniting these two companies will create an exceptional array of products and services, and the best and most supportive partner for dealers,” said Todd Cook, a managing director at Bain Capital.
Goldman Sachs and Barclays provided debt financing commitments for the Big Tex and ATW transaction. BMO Capital Markets, Goldman Sachs and Barclays acted as financial advisers, Kirkland & Ellis LLP served as legal counsel, and PricewaterhouseCoopers LLP served as accounting adviser to Bain Capital.
The planned merger is subject to customary regulatory review.
Founded in 1984, Bain Capital has $75 billion under management across several asset classes including private equity, venture capital, public equity and credit products. The firm has extensive experience in industrial manufacturing and distribution, with investments in companies including Big Tex Trailers, TI Automotive, Sensata Technologies, FTE Automotive, Trinseo SA, ASIMCO and Hero MotoCorp Ltd.