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LKQ Corporation Acquires Green Bean Battery
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By Counterman
NexaMotion Group (NMG) announced the acquisition of
link hidden, please login to view, NexaMotion’s third acquisition of the year. The company has a total of three wholesale distributor locations: two in San Francisco, CA, and one in Honolulu, HI. City Auto Supply was represented by Schwartz Advisors, and the terms were not disclosed. City Auto Supply is a U.S. veteran-owned corporation founded in the San Francisco Bay Area in 1986. The company carries over 100,000 individual parts and is a leading distributor of automotive parts and supplies to the auto repair industry, the company said.
“An organization like
link hidden, please login to view is a great partner for City Auto Supply customers and team members. Our business is strategically aligned with NexaMotion Group and its leaders, and most importantly, we share the same values,” City Auto Supply Owner Larry Chew said. “NexaMotion Group and its subsidiaries are known for providing top-quality parts and exceptional service in the aftermarket industry.” “This marks our fifth acquisition in the general repair space over the past 18 months, and we’re just getting started,” Neil Sethi, president and CEO of
link hidden, please login to view, said. “Our mission has always been to simplify complex vehicle repair, and with each acquisition, we strengthen our ability to serve customers more effectively. We’re eager for what the future holds as we continue to expand and innovate.” The post
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By Counterman
Driven Distribution, LLC, a warehouse distributor of automotive aftermarket hard parts, consumables and accessories backed by HCI Equity Partners, announced that it has acquired the auto parts and accessories distribution business of Chicago Parts & Sound. Financial terms of the transaction were not disclosed. This marks the second transaction in the Driven Distribution platform, following the recapitalization of Tri-State Enterprises, Inc. in November 2023.
Based in Elk Grove Village, IL, with additional locations in Illinois and Wisconsin, Chicago Parts & Sound 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.
Chicago Parts & Sound was founded in 1978 and acquired by Bob and Jackie Lederer in 2002. Since then, CPS has had a tremendous track record of success by providing value-added products and services to its clients, in addition to completing several acquisitions, according to a news release announcing the acquisition. Bob and Jackie said they are reinvesting in the Driven Distribution platform as part of the transaction and will continue to own and operate Police Department Systems (police and emergency vehicle upfitting services) and Coachcraft & Precision Services (specialty auto restoration services).
Bob Lederer, co-owner of CPS, said, “The history of Tri-State Enterprises is in many ways parallel to that of CPS – just in a different part of the country. Opportunities to combine businesses of such similar backgrounds, ideologies, 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 platform will enable us to expand our resources and capabilities to better serve our employees and customers,” said Tristan Taylor, CEO of Tri-State.
Scott Gibaratz, partner at HCI, added, “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.”
Dickinson Wright PLLC served as legal counsel to Driven Distribution and HCI.
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