Bain Capital has made a $1.83 billion buyout proposal for Bapcor, the struggling automotive parts retailer which lost its way after dumping long-serving chief executive Darryl Abotomey in late 2021 to pursue a more “contemporary” approach to management.

Bapcor runs the Autobarn, Autopro, Burson and Midas chains and has 1100 outlets selling car parts to mechanics and motoring enthusiasts. It disclosed Bain’s offer to the ASX on Tuesday morning after it was revealed by The Australian Financial Review’s Street Talk column on Monday.