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By Counterman
The Aftermarket Warehouse Distributors Association (AWDA), a community of the Auto Care Association, presented its 2024 Lifetime Achievement Award in Honor of Martin Fromm to Sue Godschalk, president of Federated Auto Parts. The award was presented by AWDA Chairperson Ashlee Arnold on Nov. 3 at AWDA’s 2024 Annual Conference in Las Vegas.
AWDA’s Lifetime Achievement Award recognizes individuals who have, over the course of many years, distinguished themselves through their unselfish commitment to, and high level of performance within, the motor vehicle aftermarket industry. The award is named in honor of former AWDA President Martin Fromm.
Starting 52 years ago at the bottom and working her way up to the very top of the organization, Godschalk began in the aftermarket in the inventory control department and this year will go on to become CEO of Federated Auto Parts. She has experienced great success in an industry that has been traditionally dominated by men.
Like many small business leaders, Godschalk wears numerous hats including managing financials, people, meetings, payments, rebates and much more. She’s a consensus builder who listens, contributes, pushes hard for what she believes in and then implements the plan better than nearly anyone else.
Godschalk leads through servant leadership, collaboration and by putting the time in until the job is done. Like all great leaders, she seeks professionalism over popularity. She doesn’t seek the limelight and accomplishes far more than nearly everyone else, and for years has been able to set new standards working alongside her husband Herb.
Godschalk had great mentors in Larry Pavey, Rusty Bishop and Art Fisher, as well as all of the Federated membership. Her team has benefited from being around such a highly capable person who is the perfect combination of a productive manager, worker bee, and intelligent team player.
Great plans can often fail without excellent execution and Godschalk works the plan as well as anyone and deserves credit for all of her successes both personally and professionally. While working long hours, she finds time to support her church as the lector and the secretary of the parish council. She also loves to cook and entertain, and in high school, she was even a starter on her basketball team and the captain of their cheerleading squad.
The independent aftermarket has a world-class “cheerleader” and an expert “player” in award winner Sue Godschalk.
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By Counterman
The Aftermarket Warehouse Distributors Association (AWDA), a community of the Auto Care Association, presented its 2024 Pursuit of Excellence Award to Larry Pacey, president and CEO of NPW Companies. The award was presented by AWDA Secretary Cliff Hovis at the association’s 2024 Annual Conference on Nov. 3 in Las Vegas.
Established in 1983, the Pursuit of Excellence Award is presented exclusively to an AWDA member for special achievement and for the setting of high standards as an example for others to follow, in business and in volunteer or advocacy efforts.
More than 55 years ago, Larry Pacey founded NPW Companies, then known as National Carburetor Exchange, out of a 600-square-foot building. Pacey did everything from sales and collections to rebuilding carburetors entirely on his own. Five decades later, the company — still led by Pacey but now staffed by an effective team — boasts 30 locations across the United States and Canada, including more than 100 corporate and independently owned jobbers, and services nearly 200 Auto Value, Bumper to Bumper and Confidence Plus Certified Service Centers. With Pacey at the helm, NPW is one of the most expansive and fastest-growing warehouse distributor powerhouses in the nation.
Pacey had a big vision for NPW Companies from the start. Within five years of founding, he evolved the business to include a retail parts store handling many performance lines. In 1974, the business became a warehouse distributor carrying all performance lines. Throughout the 1980s, Pacey grew the business through expansion into traditional parts and opened additional warehouses in Orlando and West Palm Beach, Florida. He added truck accessories to the company’s product offerings in 1998.
In 2008, Pacey’s team acquired Southern Performance Warehouse, marking the beginning of the company’s quest to significantly expand their footprint. Over the next 10 years, the company completed more than 20 acquisitions in many different regions. Through the strategic acquisition, organic sales growth and strong leadership, the company became dominant in the aftermarket and continues to grow quickly, even amid the uncertainty of the pandemic.
NPW Companies is known for its major industry-wide events, hosted by Pacey. At the company’s annual golf tournament, Pacey takes on all players on the “Beat the Boss” hole to ensure he gets to interact and play with every guest at the event. The company’s annual FAST Florida Automotive, Speed & Truck Expo brings in thousands of attendees. And the nearly 10-year-old Million Dollar Dinner, exclusive to vendor partners who do more than $1 million of business with NPW Companies, is a black-tie affair beloved by invitees. The company has also expanded its trade show presence to Canada.
Pacey and his team are actively involved within the industry as he formerly served on the boards of the AWDA Board of Governors.
Today, NPW operates in over 1,500,000 sq. ft. of warehouse space with 23 distribution centers, Alaska, Alabama, Arizona, California, Florida, Idaho, New Mexico, Oklahoma, Oregon, Rhode Island, Tennessee, Texas, Utah, Washington and Canada. NPW services over 30,000 accounts in North America and several international markets. A team that size with that massive of a footprint needs a foundation to succeed and that begins with education and industry training.
NPW, as a member of the Alliance and under Pacey’s leadership, has both orchestrated and attended three successful Alliance Aftermarket Jackpot Conventions in Las Vegas, bringing more than 6,000 technicians and shop owners to AAPEX over the years. As a member of the Alliance Board of Directors, Pacey’s leadership and belief in education was a driving force in bringing large contingents of shop, service and repair professionals to AAPEX and connecting them with their distributor partners and the manufacturers who operate in the aftermarket channel.
Pacey and his team are Auto Care Political Action Committee (ACPAC) supporters, and are always seen on the hill as political advocates, actively engaging with both local and national lawmakers; advocating for H.R. 906 The REPAIR Act and the Technicians’ Right to Repair.
NPW’s team under Pacey’s leadership and guidance are active supporters of The University of the Aftermarket and the University of the Aftermarket Foundation, including the Auto Value and Bumper to Bumper scholarship program, which in total has provided nearly $600,000 to students pursuing industry and secondary education.
Pacey continues to sponsor Young Auto Care Networking Group (YANG) as well as Women in Auto Care (WiAC).
Outside of the industry, Pacey supports the First Tee program in Miami, Florida, which is a youth development organization that enables kids to build strength of character by integrating the game of golf with a life skills curriculum. His industry involvement is expansive and impressive company footprint are tributes to his success as a backbone and leader of the aftermarket.
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By AutoZone
MEMPHIS, Tenn. , Sept. 24, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $6.2 billion for its fourth quarter (17 weeks) ended August 31, 2024 , an increase of 9.0% from the fourth quarter of fiscal 2023 (16 weeks). Excluding sales from the additional week included
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By APF
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced that it has entered into a definitive agreement to sell Worldpac, Inc., an automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle (NASDAQ: CG) for $1.5 billion in cash. The transaction is expected to close before the end of the year.
“We are pleased to announce the sale of the Worldpac business,” said Shane O’Kelly, president and chief executive officer. "The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business. Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the productivity of the company’s remaining assets and better position the company for future growth and value creation. On behalf of everyone at Advance, I would like to thank the more than 5,000 Worldpac team members for their dedication over the last ten years.”
"We are excited to partner with Worldpac, a great business operating in attractive markets," said Wes Bieligk, a Partner, and Katherine Barasch, a senior member of Carlyle's Global Industrials investing team. "Our proven track record in executing complex carve-outs position us uniquely to support Worldpac and its team as an independent company." Carlyle's investment in Worldpac builds on the firm's extensive carve-out experience in the Industrials sector, having invested ~$13 billion in industrial carve-outs over the past two decades, including in such companies as Axalta, Nouryon, Atotech, Signode, and Allison Transmission.
Transaction Details
Over the last twelve months, at the end of the second quarter of 2024, the Worldpac business generated approximately $2.1 billion in revenue and approximately $100 million in EBITDA. Advance expects net proceeds of approximately $1.2 billion after taxes and transaction fees. Centerview Partners is serving as financial advisor and Hogan Lovells US, LLP, is serving as legal advisor to Advance on the transaction. BofA Securities is acting as lead financial advisor to Carlyle and BMO Capital Markets is also acting as a financial advisor to Carlyle. Latham & Watkins is serving as legal advisor to Carlyle.
Investor Conference Call
As previously announced, the company has scheduled a webcast to begin at 8 a.m. Eastern Time today, to discuss results for the second quarter ended July 13, 2024. During the webcast, the company will provide additional information on the Worldpac transaction. The webcast will be accessible via the Investor Relations page of the company's website (ir.AdvanceAutoParts.com).
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of July 13, 2024, Advance operated 4,776 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,138 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at
link hidden, please login to view . About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at
link hidden, please login to view . Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. Forward-Looking Statements
Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the sale of Worldpac, including statements regarding the benefits of the sale and the anticipated timing of closing, the expected use of proceeds and expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the company’s views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the company’s ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, deterioration of general macroeconomic conditions, geopolitical conflicts, the highly competitive nature of the industry, demand for the company’s products and services, the company’s ability to consummate the sale of Worldpac on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy the other conditions to the closing, the company’s use of proceeds and ability to maintain credit ratings, access to financing on favorable terms, complexities in the company’s inventory and supply chain and challenges with transforming and growing its business. Please refer to “Item 1A. Risk Factors” of the company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by the company's subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
Investor Relations Contact:
Lavesh Hemnani
T: (919) 227-5466
E: [email protected]
Media Contacts:
Darryl Carr
T: (984) 389-7207
E: [email protected]
Carlyle
Brittany Berliner, (212) 813-4839
[email protected]
Source: Advance Auto Parts, Inc.
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