Funds advised by Apax Partners, a global private equity firm, and Alpha, a European private equity firm, today announced that they have agreed that Apax Funds will acquire Rhiag-Inter Auto Parts Italia S.p.A., a distributor of automotive spare parts in the independent Italian and Eastern European aftermarkets.
The agreement will further enable Rhiag to consolidate its position as one of the largest players in the independent automotive aftermarket across Italy, Switzerland and Eastern Europe. Terms were not disclosed.
The transaction is expected to close by the end of 2013.