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Road to AAPEX Ep. 1: The future legacy of the automotive aftermarket
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By Counterman
link hidden, please login to view announced the completion of the previously announced acquisition of AX V Nissens III APS ( link hidden, please login to view), European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens for approximately $390 million (€360 million), net of cash and assumed debt and subject to post-closing adjustments, from Nordic private equity firm Axcel and the Nissen family, according to a news release announcing the acquisition.
“We are very pleased to announce the closing of the Nissens acquisition. With this combination, we create an aftermarket leader in North America and Europe across our key product categories. The strength of Nissens’ leadership team and overall cultural fit will allow for immediate collaboration on opportunities for growth through cross-selling as well as bi-directional synergies with significant savings potential. We welcome Nissens and its employees to the SMP family,” said Eric Sills,
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By Counterman
This episode of the Road to AAPEX takes us to Grand Rapids, Mich., for a trip to Auto-Wares, where host Joe Keene learns about the company’s history, operations and distribution of auto parts. Auto-Wares works closely with manufacturers like BCA Bearings, a division of NTN, to ensure high-quality OE replacement parts are delivered to where they’re needed most.
That leads us to our next stop—NTN’s Mt. Prospect, Ill., location. There, we take a close look at the company’s focus on manufacturing high-quality products. NTN also discusses the importance of AAPEX as a platform to showcase new products and to connect with customers. Then, it’s back to Michigan, and Tamrox Automotive in Jackson, Mich., for an NTN wheel bearing replacement. Watch the video for a demonstration of the process and for insights on customer service and technician retention.
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By OReilly Auto Parts
SPRINGFIELD, Mo., Oct. 23, 2024 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its third quarter ended September 30, 2024.
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