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Advance Announces Sale of Worldpac to Carlyle for $1.5B

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. announced that it has entered into a definitive agreement to sell
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, to funds managed by global investment firm Carlyle for $1.5 billion in cash. The transaction is expected to close before the end of the year.

“We are pleased to announce the sale of the Worldpac business,” said Shane O’Kelly, president and chief executive officer. “The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business. Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the productivity of the company’s remaining assets and better position the company for future growth and value creation. On behalf of everyone at

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, I would like to thank the more than 5,000 Worldpac team members for their dedication over the last ten years.”

“We are excited to partner with Worldpac, a great business operating in attractive markets,” said Wes Bieligk, a Partner, and Katherine Barasch, a senior member of Carlyle’s Global Industrials investing team. “Our proven track record in executing complex carve-outs position us uniquely to support Worldpac and its team as an independent company.” Carlyle’s investment in Worldpac builds on the firm’s extensive carve-out experience in the Industrials sector, having invested ~$13 billion in industrial carve-outs over the past two decades, including in such companies as Axalta, Nouryon, Atotech, Signode, and Allison Transmission.

Transaction Details

  • Over the last 12 months, at the end of the second quarter of 2024, the Worldpac business generated approximately $2.1 billion in revenue and approximately $100 million in EBITDA.
  • Advance expects net proceeds of approximately $1.2 billion after taxes and transaction fees.

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