OHA is Administrative Agent & Lead Left Arranger of Private Unitranche Financing Supporting Carlyle’s Acquisition of Worldpac

By: Oak Hill Advisors, LP via GlobeNewswire

September 09, 2024 at 16:14 PM EDT

New York, New York, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Administrative Agent and Lead Left Arranger of a private unitranche facility to support Carlyle’s acquisition of Worldpac, Inc. (“Worldpac”), a formerly fully owned subsidiary of Advance Auto Parts, Inc. Worldpac is a national distributor of original equipment and quality aftermarket replacement automotive parts, primarily to independent service professionals. OHA provided the entire unitranche financing facility, while its private credit joint venture partner BMO Capital Markets served as Administrative Agent on the company’s asset-based lending (“ABL”) facility.

OHA’s comprehensive understanding of the automotive aftermarket industry positioned it to provide constructive feedback to the sponsor and lead and structure this tailored financing solution.

“We are pleased to extend our long-standing partnership with Carlyle by lending in scale to support this transaction,” said Eric Muller, Partner and Portfolio Manager at OHA. “Operating in a recession-resistant and growing end market, Worldpac has maintained strong competitive positioning and a diversified business model, and we look forward to the future growth that we believe the company is well-positioned to achieve.”

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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 $65 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, 2024. 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 Worldpac: Worldpac is a leading North American distributor of aftermarket automotive parts. The Company offers a wide assortment of products covering 40+ import and domestic carlines and operates through an extensive network of branch and distribution center locations across the U.S. and Canada. Worldpac was founded in 1995 and acquired by Advance Auto Parts in 2013 as a part of the acquisition of General Parts International. The Company reported $2.25 billion in revenues for 2023.

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

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

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OHA is Administrative Agent & Lead Left Arranger of Private Unitranche Financing Supporting Carlyle’s Acquisition of Worldpac

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