-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn.
MANN+HUMMEL Celebrates Partners at Global Supplier Event
-
Similar Topics
-
By Counterman
link hidden, please login to view announced the launch of link hidden, please login to view, a new automotive aftermarket distribution platform. The launch coincides with Driven Distribution Group’s acquisition of the auto parts and accessories distribution business of Chicago Parts & Sound, following the recapitalization of Tri-State Enterprises, Inc. in November 2023. Financial terms of the transaction were not disclosed. By bringing together CPS and Tri-State under the Driven Distribution Group umbrella, HCI said it “aims to establish a leading platform in the automotive aftermarket industry by equipping its brands with shared resources, strategic vision, investment and advanced technology to enable its companies to deliver best-in-class customer service.” Both CPS and Tri-State will continue to operate under their respective brands, while benefiting from the shared resources of the Driven Distribution Group platform.
“We are thrilled to welcome the CPS team to the Driven Distribution platform. Consistent with our original platform thesis, CPS represents a geographically strategic beachhead in the Midwest and is a great complement to Tri-State’s existing product categories. We look forward to working together to achieve our shared vision for growth,” said Scott Gibaratz, partner at HCI.
Chicago Parts & Sound, based in Elk Grove Village, IL, with additional locations in Illinois and Wisconsin, is a warehouse distributor focused on automotive aftermarket parts, batteries, consumables, and accessories. The company serves auto dealerships, independent repair shops, municipalities/governments and company fleets.
Bob Lederer, co-owner of CPS, said, “the growth of Tri-State Enterprises parallels that of CPS – just in a different part of the country. Opportunities to combine businesses of such similar backgrounds, culture, and customer focus make tremendous sense for all stakeholders in each company.”
“We are extremely impressed with the stellar business and established market reputation Bob and Jackie Lederer have built over the past 22 years. The combination of CPS and Tri-State as part of the Driven Distribution Group platform will enable us to expand our resources and capabilities to better serve our employees and customers,” said Tristan Taylor, CEO of Tri-State.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
-
By Counterman
link hidden, please login to view, a shareholder of link hidden, please login to view, is celebrating its 50th anniversary in August of 2024. Located in Oak Lawn, IL, the company specializes in distributing Asian and European automotive parts along with performance accessories. Established in 1974 by Gene Bochinski and his cousin, G&H Import Auto Parts originated from the challenges posed by the 1970s gas crisis and the scarcity of foreign car parts at the time. In a news release announcing the anniversary, G&H Auto Parts said it joined
link hidden, please login to view in 2005 after learning about the organization at a SIPS (Society of Import Parts Specialists) meeting and attending an Annual General Meeting. “I was so impressed by the connection that people had with others in the room,” said Bochinski, “It’s still my favorite part of being in a group like APA.” “We are glad that Gene is a part of APA,” said Steve Tucker, president of APA. “He’s done great work with G&H and we hope to work with him for many more years to come.”
Reflecting on the past five decades, Bochinski shared, “The automotive business is evolving constantly. If you take a month off, you are already behind. One of the great things about being in business so long is that I’ve made a lot of really good friends.”
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By NAPA
ATLANTA, Aug. 15, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, announced today that Will Stengel, President & CEO, and Bert Nappier, EVP & CFO, will present at the Goldman Sachs 31st Annual Global Retailing Conference at 1:10 p.m. ET on Thursday, September 5, 2024. The presentation will be webcast live on the link hidden, please login to view. A replay of the webcast will be available after the event.
About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service provider of automotive and industrial replacement parts and value-added solutions. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at link hidden, please login to view.
SOURCE Genuine Parts Company
For further information: CONTACTS: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations, Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications
link hidden, please login to view 
-
By Counterman
link hidden, please login to view (SMP) announced it has reached a definitive agreement to acquire AX V Nissens III APS (Nissens), a European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. The transaction values Nissens at approximately $388 million and is expected to be completed in the second half of 2024. “We are delighted to announce this acquisition, which will make our combined business the aftermarket leader in North America and Europe in thermal management products,” said Eric Sills, Standard Motor Products’ chairman and CEO. “It will also expand SMP’s portfolio of powertrain-neutral product categories. We plan to continue operating Nissens as a stand-alone unit, while leveraging the combined strength of the two companies to realize both cost and revenue synergies.”
In a news release announcing the acquisition, Sills added, “We believe the combination with
link hidden, please login to viewis a powerful one. Both companies have a similar go-to-market strategy of supplying full-line professional grade product offerings, and enjoy complementary product portfolios. Meanwhile, the two companies largely operate in different geographic markets. As such, we believe that we are stronger together, capitalizing on synergies in both markets and strengthening our position in each. Together, we can accelerate growth through cross-selling our product offerings, realize cost reduction through combined resources, and achieve enhanced operational excellence though collaboration and best practices.” “We are very excited to have SMP as our new owner”, said Klavs Pedersen, Nissens’ chief executive officer. “We have been following SMP’s activities in the US, and we see a lot of similarities in the way SMP and Nissens operate in their respective focus regions. I have personally known the SMP management team for several years, and I believe there is a very strong cultural fit that will support and accelerate the positive development of both companies. We look forward to becoming part of the SMP family.”
The transaction is subject to certain closing conditions, including receipt of applicable antitrust and other regulatory approvals.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now