Client: Worldpac/Advanced Auto Parts
Equity Sponsor: Carlyle Group
Industry: Automotive, Automotive Aftermarket
Headquarters: Chicago, IL
Practice Area: Office of the CFO, Financial Planning & Analysis
Service Type: Interim Management, Treasury Management, 13-Week Cash Flow Forecast, Carve-Out
Project Description: FINNEA Group provided treasury management services to a $2.2 billion automotive aftermarket carve-out from Advanced Auto Parts. In addition to acting as Interim Treasurer, the project entailed standing up a new Treasury Management function, building a 13-week cash flow forecast, managing cash and establishing new banking relationships.
Company Overview: WORLDPAC imports and distributes original equipment (OE) and quality aftermarket replacement automotive parts for the independent service professional. The company offers more than 110,000 part numbers at one source for 41 import and domestic carlines. Its exclusive online catalog and fulfillment ordering software (speedDIAL) contains more than 7 million import and domestic multiple brand applications for virtually every automotive make and model.