Autodoc Holding SE, a Berlin-based online car-parts retailer that sells vehicle spare parts and accessories across 27 countries, is turning to debt markets to raise 530 million, or about $606 million, to help repurchase a minority stake held by Apollo Global Management Inc. NYSE:APO, an investment firm whose Hybrid Value funds previously backed the company alongside other investors.
The new financing is being structured as a seven-year term loan B, marketed at E+350-375 with a 99 issue price and a call scheduled for July 7. Apollo's Hybrid Value funds took around a 15% stake in Autodoc in 2024 to support the company's IPO preparation, but that exit path appears to have been pushed back after Autodoc delayed its listing plan last year.
Autodoc said renewed U.S.-Iran tensions at the beginning of 2026 created an unfavorable market backdrop, leaving the company with no viable near-term IPO opportunity. For investors, the transaction suggests strong credit markets may continue to offer private companies a possible alternative route for shareholder exits, similar to Birkenstock Group, the sandal manufacturer, which priced 900 million of bonds last month partly to fund share buybacks tied to investor L Catterton's progressive exit.