Bapcor emerges as prime private equity target as share price sinks

Bapcor has emerged as a prime candidate for private equity firms looking to put some of their dry powder to work, with a number of investment banks, including Goldman Sachs, pitching the auto parts retailer to private equity clients as a potential takeover target.

ASX-listed Bapcor’s share price has sunk 16 per cent in the last six months, while job cuts last year and the departure of its chief financial officer this month have piqued the interest of dealmakers sitting on hundreds of millions of dollars in unused capital.