The 2020 Mid-Year Economic Update_long

Advent International Company Agrees to Acquire Fortbras Group

Transaction marks Advents first investment in Brazil's aftermarket auto parts sector.

Gotemburgo Participações S.A., a holding company controlled by global private equity firm Advent International, Boston, MA, has agreed to acquire Fortbras Group, a Sao Paulo, Brazil-based aftermarket auto parts distributor. Terms were not disclosed.

Fortbras will be led by Roberto Szachnowicz, who has extensive experience in the auto parts industry, having served as CEO of Grupo DPaschoal. Founded in 1992, Fortbras distributes auto parts to more than 25,000 customers, including repair shops, auto parts stores and car fleet owners. The company reported sales of BRL$500 million (US$157.7 million) for the 12 months ended June 30.

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