16 December 2009 — PRNewswire/ — FleetPride, Inc., the nation’s largest independent aftermarket distributor of heavy-duty truck and trailer parts, has announced the appointment of Woody M. McGee as President and CEO.
McGee has a 40-year track record of success in industries such as heavy manufacturing, electronics, telecommunications, industrial automation, light manufacturing, security, wireless mobile computing/software, textile/geosynthetic fibers and retail consumer products. He joins FleetPride after serving as President and CEO of Propex Inc.
McGee’s background includes senior management positions at Litton Industries, Western Atlas Inc., H K Systems, Telxon Corporation and several private equity-backed businesses. McGee has served on both private and public boards of directors as a member of the Audit Committee, Chairman of the Audit Committee, member of the Compensation Committee and Chairman of the Board.
“Woody has been consistently recognized as an effective leader who is adept at accelerating profitability. His extensive experience in mergers and acquisitions will support the progress of FleetPride’s long-term growth strategy,” said Steve Puccinelli, Head of Private Equity North America at Investcorp, the private equity owners of FleetPride. “He will be responsible for developing and guiding FleetPride’s vision for growth, and his experience in increasing shareholder equity will be significant in enabling the company to continue its industry leadership position.”
“FleetPride is a strong company with a solid balance sheet,” said McGee. “I’m looking forward to maintaining its exceptional customer service record and operational excellence and to continuing its strategic acquisition strategy. My own experience in supply chain, operations, executive management, contract administration and negotiations, sales and finance will complement that of the strong team already in place. Together, we can capitalize on the company’s leadership position and achieve its growth plans.”
About FleetPride, Inc.
FleetPride, Inc. (www.fleetpride.com) — America’s premier nationwide supplier of heavy duty truck and trailer parts — operates 189 locations in 39 states and carries a full line of nationally recognized brand name parts, as well as an assortment of exclusive brand parts. In addition, FleetPride offers in-house remanufactured products such as brake shoes, transmissions, rear axles and driveline components. Truck and trailer repair services are also offered at a number of locations.
About FleetCare
FleetCare (www.fleetcare.info) — America’s premier heavy duty truck and trailer service center network — has over 190 service providers across the country. FleetCare offers services for all makes and models at all locations, 24/7 toll-free locator service, dedicated website, highly trained technicians, brand name parts, nationwide parts warranty and roadside assistance in many locations.
About Investcorp
Investcorp is a leading provider and manager of alternative investment products. It has offices in London, New York and Bahrain and is publicly traded on the London Stock Exchange (IVC) and the Bahrain Stock Exchange (INVCORP). Investcorp has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf Growth Capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography.
Further information is available at http://www.investcorp.com.
SOURCE FleetPride, Inc.
