Platinum Equity Nears $500 Million Deal for TruckPro

(Bloomberg) -- Platinum Equity is in talks to buy heavy duty truck parts retailer TruckPro for about $500 million from Harvest Partners, according to people familiar with the matter.

The private equity firms could announce a deal for the Cordova, Tennessee-based company as soon as next week, said the people, who asked to not be identified because the matter isn’t public. No decision has been made and talks could fall through, the people said.

A representative for Harvest Partners declined to comment. A representative for Platinum Equity couldn’t be reached for comment. A representative for TruckPro didn’t respond to a request for comment.

TruckPro provides parts and services for heavy duty truck parts at more than 150 retail locations in 33 states, according to its website.

Harvest Partners, based in New York, acquired the company in 2011, according to a statement at the time.

Los Angeles-based Platinum Equity manages $13 billion and has a portfolio of more than 40 operating companies, according to its website.

To contact the reporters on this story: Kiel Porter in Chicago at kporter17@bloomberg.net;Crystal Tse in Hong Kong at ctse44@bloomberg.net

To contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Matthew Monks, Michael Hytha

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