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Announced

Bain Capital to acquire Bapcor for AUD1.83bn.

Synopsis

Bain Capital, an American private investment firm, offered to acquire Bapcor, a provider of automotive aftermarket parts, accessories, automotive equipment and services, for AUD1.83bn. Analysts said it could draw attention of more suitors to the struggling auto parts retailer. The shares had declined almost 50% from their high in mid-2021 after a series of profit downgrades stemming from struggles with inventory and the preemptive departure of CEO-elect Paul Dumbrell. On 9 June Bapcor rejected the AUD1.83bn offer from private equity firm Bain Capital, saying it did not fully reflect the company's value.

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