Subsequent Event

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On October 11, 2016, the Company entered into a definitive agreement with TAP Automotive Holdings, LLC (“Transamerican Auto Parts”), to acquire the outstanding equity interests in Transamerican Auto Parts, a privately held, vertically integrated manufacturer, distributor, retailer and installer of off-road Jeep and truck accessories, for an aggregate consideration of $665,000,000, subject to customary closing adjustments. Headquartered in Compton, California, Transamerican Auto Parts has trailing 12 month sales of approximately $740 million, through September 2016. The completion of the acquisition is subject to receipt of regulatory approval and other customary closing conditions, and is expected to be completed by the end of 2016. The Company expects to fund the purchase price with borrowings under its existing credit facilities.