SÃO PAULO, August 12, 2016 – Gotemburgo Participações S.A., a holding company controlled by Advent International, one of the largest and most experienced global private equity investors, today announced that it has agreed to acquire Fortbras Group, a leading distributor of aftermarket auto parts in Brazil. Fortbras will be led by Roberto Szachnowicz, who has extensive experience in the auto parts industry, having served as CEO of Grupo DPaschoal.

The transaction, subject to regulatory approval and customary closing conditions, is expected to be completed in the third quarter of 2016. Financial terms of the acquisition were not disclosed.

Founded in 1992, Fortbras distributes auto parts to more than 25,000 customers, including repair shops, auto parts stores and car fleet owners. The company sells electrical and mechanical products for light vehicles, heavy vehicles and motorcycles, serving customers from 18 locations across 17 Brazilian cities. With sales of close to R$500 million for the 12 months ended June 30, 2016, Fortbras is one of the fastest-growing players in the Brazilian auto parts sector, having doubled its revenue in the last five years.

“Brazil is one of the largest vehicle markets globally, and the country’s auto parts segment has grown significantly in recent years,” said Wilson Rosa, a Managing Director at Advent in São Paulo. “We believe Fortbras is well-positioned to capture the strong demand for auto parts in Brazil in the coming years, and we are excited to partner with a great management team to pursue additional growth opportunities.”

Juvenil Casagrande, co-founder of Fortbras Group, said, “We would like to thank our employees, suppliers and customers for their contribution to our success over the past 24 years and are pleased to welcome Advent as a new investor. We look forward to working with Advent’s experienced team to continue our growth story.”

Roberto Szachnowicz, CEO of Gotemburgo Participações and upon completion of the transaction, CEO of Fortbras, commented: “This is a highly fragmented market, and we see significant opportunities to grow, both organically and through selective acquisitions. Fortbras is an impressive company, and its shareholders and employees have been extremely successful in expanding their business model throughout Brazil. I am thrilled to join this team and help lead the company in its next stage of development.”

Advent is one of the leading private equity investors in Latin America. Since 1996, the firm has invested in over 50 companies across the region. Its recent investments in the distribution sector include Allied, a leading distributor of mobile phones and portable devices in Brazil; and GTM, one of the largest chemical distributors in Latin America. Advent’s other recent investments in Brazil include Fleury (BOVESPA: FLRY3), a leading provider of medical diagnostic services in the country; Faculdade da Serra Gaucha Group, a private education company in the south of Brazil; and Cataratas do Iguaçu, the largest concessionaire and operator of services in Brazil’s national parks.