Our offices will be closed on Monday, Jan. 18 in observance of Martin Luther King Jr. Day; therefore, next week’s issue of The Greensheet will be published on Tuesday, Jan. 19.
Quick Hits …
(A few short items to get us started this week)
• 2020 late December U.S. holiday road travel was down at least 25%, according to AAA.
• Auto Value and Bumper to Bumper plan to return to AAPEX for an Aftermarket Jackpot Convention – High Stakes Edition in 2022. The convention will feature business seminars and technical training, as well as networking opportunities.
• Bogumił Papierniok, a nearly 30-year veteran of the Polish and European parts distributor MotoProfil, is now the chief business development officer of Temot International.
• Speedway Motors (Lincoln, NE) — a manufacturer, retailer and distributor of auto parts and racing products — plans to open a 300,000-square-foot distribution center in Kearneysville, WV, reducing shipping time for the company’s East Coast customers, according to President and Owner Clay Smith.
The Greensheet Q3 2020 Financial Reports Chart
Each quarter, Auto Care Week/The Greensheet tracks key financial data from a number of companies publicly traded in the United States and Canada, and doing business in the North American auto care industry. We compile those top-line and bottom-line results for you to see, at a glance, how these companies fared. The listing is organized by increase/decrease in net sales. Click here to view The Greensheet Q3 2020 Financial Reports Chart.
Additional Details Emerge On Driven Brands’ Proposed IPO
Driven Brands Holdings has launched the roadshow for its proposed initial public offering (IPO). The company is offering 38 million shares of its common stock. The IPO price is expected to be between $17 and $20 per share. Driven Brands intends to list its common stock on the Nasdaq Global Select Market under the ticker symbol “DRVN.” The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.
Charlotte-based Driven Brands is the parent company to the auto service businesses Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Carstar. The company has more than 4,100 shops across 15 countries and services over 50 million vehicles annually. According to management, Driven Brands’ network generates approximately $900 million in revenue from more than $3 billion in systemwide sales.
Driven Brands intends to use the proceeds from the offering and cash on hand to repay, in full, the outstanding indebtedness under certain credit facilities and to pay fees and expenses in connection with the offering. The company also intends to grant underwriters a 30-day option to purchase as many as 5.70 million additional shares of common stock.
If underwriters exercise their option to purchase additional shares, Driven Brands intends to use a portion of the net proceeds to acquire shares of common stock from certain existing stockholders. None of the existing stockholders Driven Brands would purchase shares from will be existing employees, executive officers or directors or controlling stockholders of the company.
Morgan Stanley & Company, BofA Securities and Goldman Sachs & Company are the joint lead book-running managers for the offering. J.P. Morgan Securities and Barclays Capital are the book-running managers. Robert W. Baird & Company, Credit Suisse Securities (USA), Piper Sandler & Company and William Blair & Company are book-runners for the offering.
Rep Firms Merge
Pro-Reps Sales has announced a merger with Denny Mehling and the team at Wonderland Marketing of Grand Rapids, MI, which covers Michigan, Indiana, Ohio, Kentucky, Illinois and Wisconsin. Mehling is a 40-year industry veteran who has represented such lines as Grote, Niteo/Cyclo, Pylon and Shark Welding, to name a few. The move expands Pro-Reps’ Southeast presence into the Midwest.
Sparta Evolution Retains R&R Marketing Consultants
Kent, WA-based Sparta Evolution, a designer and manufacturer of high-performance brake systems, has retained R&R Marketing Consultants Inc. of Kansas City to market and sell its line of products, including Big Brake Kits and direct replacement brake kits. Sparta brake systems are engineered for motorsports and high-performance street applications globally.
Bestbuy Adds Two Shareholders
Bestbuy Distributors has announced the addition of two full member shareholders: Novalex Auto Parts and CANDID Auto Parts.
Edison Hu, the owner of Novalex, is an established parts store owner who has been serving the automotive aftermarket with locations in Burlington and Milton, Ontario for more than 10 years.
Thomas Chen, the owner of CANDID Auto Parts, has been a part of the automotive aftermarket for almost 20 years. He opened his business in 2016, which has locations in Oakville and Streetsville, Ontario.
FCP Euro Sees Growth Amid Difficult Year
Online parts retailer FCP Euro is reporting unprecedented growth in the wake of the coronavirus pandemic. The company announced last month that it had surpassed $100 million in annual sales, a milestone Founder and President Nick Bauer attributed to attention to customer service and growth of its digital presence.
“We feel blessed,” Bauer said. “We feel validated to know that the decision to focus on the employee and the customer was the right, one and it definitely paid off. Everything we invested in the last 10 years was all about making sure our employees were developed and trained and the customers were satisfied.”
The Milford, CT-based European car parts retailer has seen steady growth in recent years, and Bauer attributed that to drilling down on its online inventory while curating staff who have an affinity for European cars.
“We got rid of everything that wasn’t a high-quality part that wasn’t selling,” Bauer said. “Over the last 10 years, we have gone from 20 to 175 employees. We invested heavily in top people to help push and drive the growth. And staff was added at all different levels who came from all different industries. Most of our hires are people who are passionate about European cars.”
FCP — recognized by Inc. magazine as one of the 5,000 fastest-growing, privately-owned companies — began as a brick-and-mortar store in Groton, CT started by Bauer’s parents. He credits growing up around the automotive aftermarket with spurring his interest in creating an online offshoot to his parents’ store in 2000. He began selling parts on eBay and grew the online business steadily enough over several years that he invited childhood friend (now FCP CEO) Scott Drozd to join him in the venture.
Bauer and Drozd developed a website that listed an extensive online catalog of European car parts, kitted projects and DIY videos for their customers. The company’s growth is perhaps best illustrated by the timeline of its warehouse space expansion. In 2014, FCP acquired its first 26,000 square feet of space. Four years later, it needed an additional 25,000 square feet and then added another 50,000 square feet just one year later in 2019.
“We have always been very customer-driven and focused,” Bauer said. “We listen to the customer about what they need and want. We are not just selling parts. We put together and make videos for them so they know how to fix it themselves.”
Bauer said 2020 was a “difficult year,” but FCP responded quickly to the pandemic restrictions by ensuring employee safety with weekly cleaning protocols, mandatory mask-wearing and offering hourly hazard pay. Business slowed for a brief period until April when the government stimulus checks hit everyone’s bank accounts, he said.
“We saw an immediate bump in business the morning the checks went out,” Bauer said. “That was one of our biggest days of the year. For the rest of 2020, sales were just sustained after that.”
Word of mouth and more people wanting to learn how to make their own car repairs while at home during the pandemic are two key factors Bauer points to when explaining FCP’s success in 2020.
Plans for the coming year include adding 70 employees, beefing up the FCP website to include more customer-driven capabilities such as 3-D car repair diagrams, as well as acquiring a third-party shipment warehouse, according to Bauer.
“We are going to continue to focus on what we do best, which is building a high-quality catalog with the right mix of products,” Bauer said. “We want to get products to the customer quicker and are always looking for ways to make the customer experience even better.” — Susan Pappas
E-Retailer Newegg Hires Industry Veteran As Vice President Of E-Commerce
Andy Schuurs is now the vice president of e-commerce, automotive P&A for the e-retailer Newegg Inc.
Schuurs was director of e-commerce for the Automotive Distribution Network (now the Pronto Automotive Distribution Network), where he oversaw implementation of The Network’s online strategy, including retail, wholesale and wholesale fulfillment for national account customers.
He joined The Network in 2018 with some 30 years of software, software-as-a-service (SaaS) and e-commerce experience, including time as director of sales – WHI Solutions at eBay and regional sales manager with Activant Solutions.
RevolutionParts Hires Chief Technology Officer
Jared Canova has joined RevolutionParts as its chief technology officer. Canova was vice president of technology – partner network for Penske Media Corp. and, before that, senior vice president of technology at SheKnows Media. Phoenix-based RevolutionParts specializes in accelerating parts and accessory sales for automotive dealers across multiple channels, including e-commerce, online marketplaces and wholesale.
Alltech Automotive Bolsters Its Sales, Catalog Teams
Alltech Automotive (Libertyville, IL) has hired Richard Odom as its sales director – traditional markets and added John Gehrke to its catalog and data management team.
Odom is responsible for all of the company’s traditional aftermarket sales channels and for developing the potential for Alltech through the traditional marketplace. He brings approximately 25 years of automotive aftermarket sales experience to the position, most recently with ZF Aftermarket and Mahle Aftermarket, where he managed all sales responsibilities for the United States.
“Richard brings a wealth of automotive aftermarket sales experience to Alltech Automotive’s fastest-growing markets,” said CEO Nancy Xie. “We are confident he will accelerate this growth and open many new opportunities. Richard will be a great addition to the ever-growing Alltech sales team.”
Gehrke is responsible for catalog application data management for all of Alltech’s distribution channels. He reports directly to Reuben Krugly, director of operations.
“With the addition of John to our catalog/data management team, we have raised our commitment to provide the highest-quality level of product information and application data to the industry,” Krugly said.
Gehrke comes to Alltech with nearly a dozen years of cataloging and data management experience, most recently with Brake Parts Inc.
Oracle Lighting Appoints National Sales Manager
Oracle Lighting (Metairie, LA) has promoted Melissa Parker-Boudreaux to national sales manager, responsible for leading the company’s inside and outside sales teams as well as managing upper-level distribution accounts. Parker-Boudreaux has been with Oracle Lighting for 10 years.
EnerSys Announces Batteries Pact With TravelCenters Of America
EnerSys, the manufacturer of Odyssey batteries, has announced a partnership with TravelCenters of America (TA) to offer Odyssey Performance and NorthStar Pro Group 31 batteries for heavy-duty applications at all TA locations throughout the United States.
As part of this exclusive agreement, the purchase of any of the Odyssey and NorthStar Group 31 batteries through a TA supplier will include a limited, four-year full replacement warranty. And through this partnership, TA will process manufacturer’s warranties for all Odyssey and NorthStar batteries in trucking, providing fleets access to a support network no matter where they purchased the battery, both OE and aftermarket purchases.
TA President Barry Richards said TA will work with the team at EnerSys “on a growth strategy and to raise further awareness of the benefits and features of both battery portfolios to our customers.”
NorthStar Pro Group 31 batteries have been available for purchase at TA Truck Service Centers since May 2020. Odyssey Performance batteries will become available Feb. 1, 2021.
Fenix Purchases All Pro Auto Parts
Fenix Parent LLC/Fenix Parts, a recycler and reseller of OEM automotive parts, has acquired the assets of Auburndale, FL-based All Pro Auto Parts, a full-service automotive recycling facility servicing the Orlando and Tampa markets. Financial terms of the transaction were not disclosed.
The acquisition gives Fenix a second location in Florida. Fenix has locations across the Northeast, Southeast and Southwest.
“All Pro is a high-volume auto recycler that meets all of our acquisition criteria,” said CEO Bill Stevens. “Their strong leadership, strategically located facility and total addressable market will allow us to expand our dismantling, warehouse and distribution capabilities in the Southeast region and benefit current and new customers.”
The deal marks the second acquisition completed by Fenix since affiliates of Stellex Capital Management acquired Fenix in 2018. Stellex is a private equity firm with more than $2.60 billion in assets under management.
Free Flow Expects To Double Revenue With Inside Auto Parts Transaction
Free Flow Inc. — a publicly-traded company with subsidiaries that provide vehicle dismantling and the recycling of OEM auto parts and supplies, as well as scrap metal processing and auto leasing — has acquired the assets of Mineral, VA-based Inside Auto Parts.
According to Free Flow, the acquisition is expected to double Free Flow’s revenue and net worth.
Free Flow, through its current subsidiaries — Accurate Auto Parts, Motor & Metals Inc. and Citi Autos Corp. — provides OEM recycled auto parts and supplies from a warehousing and shipping facility on a 19-plus-acre site in King George, VA, which is about 60 miles from Inside Auto Parts’ 16-acre location in Mineral.
Inside Auto Parts operates a salvage dealership that specializes in used foreign car and truck parts (representing 90% of the company’s business activity) and a motor vehicle dealership that specializes in used, late-model foreign automobiles (representing 10% of the company’s business activity).
The company possesses multiple licenses, including the ability to operate as a fully functioning car and motorcycle dealership as well as a licensed salvage dealer, rebuilder, and demolisher able to purchase a vehicle, designate that vehicle salvage, sell parts and fully demolish remaining components. Inside Auto Parts also is licensed to purchase salvage vehicles; to rebuild and resell vehicles; and to purchase and sell salvage, rebuildable and demolished automobiles and parts. All licenses will transfer to FFLO – Inside Auto Parts Inc., a wholly-owned subsidiary of Free Flow.
Current management of Inside Auto Parts will remain in place to manage and operate FFLO – Inside Auto Parts.
IT/Cybersecurity Added As Field Of Study For Aftermarket Scholarships
The University of the Aftermarket Foundation (UAF) has added information technology and cybersecurity as a field of study for scholarships available on the Automotive Aftermarket Scholarships Central website, automotivescholarships.com. Applicants can click “IT/Cybersecurity” in the drop-down on the site to indicate this as their planned course of study and qualify for scholarships.
“Demand for IT and cybersecurity professionals is growing in the automotive aftermarket industry as companies large and small need to protect their financial information and intellectual property, among other critical tasks,” said UAF Chairman Bob Egan in announcing the expansion.
SEMA Now Accepting Scholarship, Loan Forgiveness Applications
SEMA is accepting applications for the 2021 SEMA Memorial Scholarship and Loan Forgiveness Program. Scholarships are available to students pursuing a degree or certification that leads to a career in the automotive industry, and loan forgiveness is available to employees of SEMA-member companies.
The scholarships are intended to support the next generation of industry professionals, allowing them to focus on their studies, rather than being burdened with tuition costs. The loan forgiveness program provides financial assistance to employees of SEMA-member companies who have outstanding student loans.
Awards of as much as $5,000 are available to qualified people. The online application will be available until March 1 at sema.org/scholarships.
Worksport Raises Over $1.10 Million
Worksport Ltd., a manufacturer of tonneau covers, announced Jan. 5 that it has raised more than $1.10 million via a “Regulation A” public offering. The offering can remain open until November 2021; however, with over 25% of the targeted amount already received, management believes that it will close ahead of schedule. Proceeds from the offering will be used to fully launch all product lines and to establish production in Canada.
The Network Recommends RepairPal To Its Members
RepairPal has announced a partnership with the Automotive Distribution Network that includes a special promotion for Platinum Shop Program members that join the RepairPal Certified network, which includes more than 2,600 shops nationwide.
To become RepairPal Certified, shops are vetted to ensure they deliver quality work and excellent customer service at fair pricing. Shops that become RepairPal Certified get new customers from both RepairPal.com and RepairPal partners.
“We’re excited to be recommending RepairPal to our members, because we know it will provide our shops with the increase in service and repair revenue they are looking for, so much that we are sponsoring a special deal for our platinum members,” said Director of Marketing Mark Lowry. “Our partnership with RepairPal is a great addition to the Platinum Shop Program and assists our members with achieving their goals.”
AutoVitals Acquires BayIQ
AutoVitals, a provider of software as a service (SaaS) technology to automotive repair and maintenance shops, has acquired BayIQ, a provider of automated marketing software to independent tire and auto repair centers. Financial terms of the transaction were not disclosed.
BayIQ’s services are designed to help shops build customer loyalty, increase car counts and increase average repair order using a customer engagement platform that includes loyalty program management and automated service reminders.
BayIQ got its start in 2016. Jennifer Thronson has been its CEO since January 2020. Prior to that, she was BayIQ’s president. Each of BayIQ’s team members will remain with the combined company, according to AutoVitals.
AutoVitals’ acquisition of BayIQ is seen as augmenting the company’s suite of products aimed at optimizing a shop’s performance. This includes workflow management, digital vehicle inspections, POS integration, customer relationship management, retention and websites.
“BayIQ’s motorist engagement offering is having a material impact on customer retention and upselling rates for tire and automotive shops,” said Jon Belmonte, CEO of AutoVitals. “The addition of a best-in-class customer loyalty platform to our Shop Success Solution will produce even better financial results for our respective clients and for the industry.”
The acquisition is AutoVitals’ first since Tritium Partners made an undisclosed “significant” growth investment in 2019. Tritium is a private equity firm focused on technology and services companies. It has roughly $800 million in committed capital raised.
“We continue to believe that companies like AutoVitals and BayIQ will play instrumental and expanded roles in the automotive aftermarket as shops look to use software and data to better serve their clients, increase revenue and improve operations,” said Chris Steiner, principal at Tritium. “We see significant opportunity to deliver an increasingly comprehensive solution and plan to provide the resources necessary to expand our respective go-to-market teams, further enhance product/feature development and pursue additional acquisitions.”
FullSpeed Automotive Expands In Northeast
FullSpeed Automotive has purchased Connecticut-based Economy Oil Change, which operates three Hartford-area locations. FullSpeed is an automotive services franchisor and operator headquartered in Greenwood Village, CO. It has more than 600 locations operating under the Grease Monkey, SpeeDee, American Lubefast and Uncle Ed’s Oil Shoppe brands, to name a few.
Moran Debuts New Automotive Window Tint Brand
The Moran Family of Brands (Midlothian, IL) — a franchisor of general automotive repair, transmission repair, window tint and vehicle paint protection services — has announced a new company brand, Turbo Tint.
Moran describes Turbo Tint in the following way: “Turbo Tint specializes in automotive window tint services. Under the brand’s concept, customers can purchase a tint package and schedule an appointment online. When they arrive for service, they will only need to select their desired shade of window film. The entire installation process is completed in one hour or less.”
In addition to automotive window tinting, Turbo Tint also offers paint protection and architectural window tinting services.
The first Turbo Tint location is in Oklahoma City in a converted Alta Mere store. The Oklahoma franchisee plans to open a second Turbo Tint location in the area in the first half of 2021. And, Moran has awarded franchise agreements for as many as 11 new locations in Florida.
Moran has more than 120 franchise locations nationwide doing business as Mr. Transmission, Milex Complete Auto Care, Turbo Tint, Alta Mere and SmartView Window Solutions.
Bolt On Technology Partners With Global Payments Integrated
Bolt On Technology has announced a partnership with the electronic payment processing company Global Payments Integrated. Repair shops that opt for Global Payments to accept payments will receive a PIN-enabled credit card processing pad from Ingenico if they subscribe by Feb. 28.
Through the Bolt On Pay dashboard, shop owners can view real-time transaction reports. And, text-to-pay is included in Bolt On Pay, which is available in both the company’s Mobile Manager Pro and NextGear cloud-based offerings.
Purcell Joins Michelin Commercial Service, Retreading Networks
The Purcell Tire & Rubber Company is joining the Michelin Commercial Service Network (MCSN) and the Michelin Retread Technologies Inc. (MRTI) and Oliver Rubber Company (Oliver) retreading networks.
With 65 service locations and five retread plants across 15 states, Purcell Tire is billed as one of the Top 10 independent commercial tire dealerships and the largest retreader for off-the-road (OTR) tires in North America.
It’s worth noting that, with the December 2020 acquisition of Quality Tire, Purcell’s retread plant footprint includes three MRTI plants (Potosi, MO; Hudson, CO; and Phoenix) and two Oliver plants (Salt Lake City and Billings, MO).
With the addition of Purcell, MCSN will now offer fleet service at more than 400 locations nationwide.
As a MCSN franchisee, Purcell will be able to offer fleets such services as the Michelin Oncall emergency road service, Michelin Tire Care tire-monitoring service and Michelin Mechanical Care trailer repair and readiness program.
Kinedyne Relocates West Coast DC
Kinedyne LLC — a manufacturer and distributor of cargo-control products for the transportation industry — has relocated its West Coast distribution center from Reno, NV to a new facility in Azusa, CA in an effort to improve lead times and speed product delivery. The Azusa facility has twice as many docks as the Reno distribution center and is closer to key West Coast ports.
Timken Acquires Aurora Bearing
The Timken Company has acquired the assets of the Aurora Bearing Company. Aurora manufactures rod ends and spherical plain bearings for a wide range of customers, including those in the racing and off-highway equipment markets. Aurora employs roughly 220 people, with its headquarters, manufacturing, and research and development based in Montgomery, IL. Terms of the transaction were not disclosed.
Cooper Standard Reorganizes Global Leadership
Cooper Standard has announced that Jeff DeBest, executive vice president and advanced technology group president, is leaving effective March 1. He has been with the company since 2018.
With DeBest’s pending exit, the company has announced that D. William Pumphrey will take on responsibility for Cooper Standard’s industrial and specialty group (ISG) as executive vice president and president – global automotive and ISG. This will be in addition to his current responsibilities for corporate strategy and the company’s global automotive business.
Additionally, Christopher Couch, senior vice president and chief technology officer, will assume leadership of Cooper Standard’s applied materials science (AMS) business in addition to his oversight of global technology, product development, product strategy and program management.
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People Watching 1/11/21
• Robert Schuetz Jr., vice present of sales for Ohlins USA, announced on LinkedIn that he is entering into semi-retirement, noting that he will continue to consult and “share the knowledge that I have accumulated over the last 35 years.” Schuetz’s career has included time as president and director of sales and marketing for KW Automotive North America, automotive division vice president at Warn Industries, and vice president of aftermarket sales for Lund International.
• Wilwood Engineering has added Tommy Strup to its racing division sales team as an outside sales contractor. Strup brings more than five decades of racing experience and braking technology knowledge to the company, including time with Heintz Performance, CV Products, Central High Performance and Pro-Systems.
• John Viscardo has left the MotorTrend Group to become an enterprise sales executive at ThumbStopper, a Tampa-area company that help brands and retailers generate social media engagement through the curation and syndication of content. At MotorTrend, Viscardo was a senior account executive. His background also includes time as an account executive with Babcox Media and vice president of sales and marketing for Traction Media.
• Jamy Rankin has joined the Motorcar Parts of America (MPA) board of directors, giving the board a total of 10 directors, nine of whom are independent, according to MPA. Rankin was the president and CEO of Ford Component Sales, where she oversaw component sales to other OEMs and the aftermarket.
• Paco Agrafojo, formerly director of marketing, product management and innovation for ITW Permatex, has joined CNC Software Inc. as its director of marketing. Agrafojo has been with ITW Permatex for most of the last four years.
• ITT Inc., a publicly traded diversified manufacturer that’s the parent company to Wolverine Advanced Materials, has named Mark Macaluso as its vice president of investor relations. Macaluso is tasked with leading the development and execution of ITT’s global investor relations strategy in addition to serving as the company’s primary liaison with shareholders and the investment community. Macaluso joins ITT from Honeywell, where he was vice president of financial planning and analysis and vice president of investor relations.
• Superior Industries International has announced the addition of Michael Dorah as senior vice president and president – North America, effective Jan. 11. Dorah has served in various leadership and operational roles at Tier-1 automotive suppliers for more than 25 years, most recently as senior vice president of manufacturing systems for Delphi Technologies. Prior to Delphi, he served was vice president of operations at Chassix.
• Fox Factory Holding has added Sidney Johnson to its board of directors, effective Jan. 2. Johnson has over 25 years of operational and global supply chain experience in the technology, global mobility and automotive manufacturing industries. He most recently was head of procurement and automotive sourcing at Harman International Industries.
• The Marx Buscemi Eisbrenner Group (MBE Group) — a marketing communications agency focused on the automotive, mobility, trucking, tech and consumer goods industries — has named Sophia Polsinelli as an account coordinator. She joined the MBE Group as an intern in 2020. As an account coordinator, Polsinelli now supports client account teams with writing, media relations, social media, integrated branding campaigns and digital marketing activities. Prior to joining the agency, she was a marketing and sales intern for Bosch Battery Systems.
News Briefs 1/11/21
• The Auto Care Association has announced the addition of vehicle miles traveled (VMT) data from Arity to its TrendLens interactive data platform.
• The 2021 AASA Replacement Rates Report is now available. It contains data tables showing the percentage of private vehicles receiving specified maintenance, which can be used to calculate product durability, market size estimates and service job variables. AASA’s replacement rates are derived from an IMR Inc. survey of more than 100,000 households maintaining roughly 250,000 light vehicles each year.
• The Genuine Parts Company (GPC) has acquired Vaca Valley Auto Parts, which has operated an auto parts store in Fairfield, CA since 1974. Vaca Valley was owned and operated by the father-and-son team of Jack and Trevor Martin, who will continue to run the business under GPC’s ownership. Schwartz Advisors was the exclusive sell-side adviser to Vaca Valley, with managing partners Rick Schwartz and Keith Zar assisting Vaca Valley on the transaction.
• Icahn Enterprises — parent company to Auto Plus, Pep Boys, AAMCO, Precision Tune and others — plans to offer $750 million of 4.375% senior notes due 2029 via a private placement. The offering is expected to close Jan. 19. Net proceeds from the notes offering will be used to redeem a portion of Ichan Enterprises’ existing 6.25% senior notes due 2022.
• Temot International has announced the following new shareholders: Metalia-Auto of Croatia, FEROS also of Croatia, Sincommerce of Montenegro and Autofix of Belgium.
• Nexus Automotive International has announced the addition of three new members: FilterProz Limited, Nelas Auto Parts of Bulgaria and Lager Commerce of Croatia.
• Walmart.com now carries a line of car care products from Jay Leno’s Garage. The products, which include a leather cleaner and a detailer, are to be sold at Walmart retail stores starting in the spring.
• Turn 14 Distribution has added Jeep off-road products from Rugged Ridge to its line card.
• Champion Oil has announced Rochester, NY-based Stirling Lubricants as its racing and performance distributor of the year.
• GB Auto Service, a portfolio company of the Greenbriar Equity Group, has acquired three Houston-area ServiceONE Automotive shops, augmenting GB Auto’s presence in the market, which includes 12 Louetta Automotive locations. Austin-area ServiceONE locations are a separate entity and not part of this transaction.
• The Boyd Group/Gerber Collision & Glass has acquired 10 repair shops and one intake center in Riverside and San Bernardino counties in Southern California. The new locations were commonly branded as 1st Certified Collision Centers.
• Strickland Brothers 10 Minute Oil Change has announced that new franchise owners Randy and Zachary Niessner are set to open six Strickland Brothers shops in the Mooresville, NC area and that franchise owners Sheldon and Amanda Unruh are set to open three Strickland Brothers shops in the San Antonio area.
• Service King Collision has opened two Houston-area shops — one in Fairbanks and one in Spring — giving Service King a total of 27 locations in Houston and more than 300 shops nationwide.
• Michelin North America plans to increase prices as much as 5% on certain Michelin and BFGoodrich passenger and light-truck tires, as well as on select commercial offers to fleet customers, effective Feb. 1, 2021. Price increase on Uniroyal-brand passenger and light-truck products went into effect in November 2020.
• Mann+Hummel is celebrating its 80th anniversary this year.
Event & Trade Show Briefs 1/11/21
• CAWA will host a virtual Leadership & Educational Forum Feb. 11-12. Scheduled guest speakers include Bill Hanvey of the Auto Care Association, Bill Thompson of IMR Inc., Daniel Laury of Udelv Inc. and Joel Ayres of the Automotive Aftermarket Charitable Foundation. Click here for information about the event.
• Competition Specialties Inc. plans to host its 2021 Mega Show in a virtual format March 3-10. The 49th jobber-only event will feature new products, special deals, cash drawings and prizes. Visit compspecialties.com for more information.
• Todd Campau of IHS Markit will discuss how the coronavirus pandemic has changed key market drivers, including the number of vehicles on the road and the used car business, during an AASA webinar scheduled for Jan. 28. Click here for additional information on this presentation.