A small number of private-equity firms are vying to buy Huntersville-based American Tire Distributors in a sale that could bring in more than $3 billion, the Wall Street Journal reported Wednesday, citing people familiar with the matter.
American Tire Distributors, also known as ATD, says it is the largest distributor of replacement tires in North America. The company employs about 3,800 employees across its network of distribution centers.
Company representatives could not be immediately reached on Wednesday.
ATD was acquired in 2010 by private-equity firm TPG Capital. The company filed for an initial public offering in June that could raise $100 million, but the private-equity firm has also been quietly running an auction for the company, the Journal reported.
Never miss a local story.
The Journal said it was unclear which potential buyers were still in the running. An IPO is still possible, the paper said.