After four years of losses, Pep Boys turned in a strong 2010. Profits rose by 36% in the first nine months of last year, and the firm hauled in earnings of $23 million.
Now the company with 600 stores in trying to capitalize on its success, by courting private equity firms, Bloomberg said. Leonard Green and Partners LP, Bain Capital LLC, and TPG Capital are all speculated buyers.
Neither Pep Boys nor Bank of America commented on the sale rumors. However, news of the possible trade sent stock prices climbing, up 15% on Friday. Pep Boy's market value is now calculated at $743 million.