Harris Williams Advises Parts Authority on its Sale of a Majority Interest to Kohlberg & Company, LLC
October 30 2020 - 8:36AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Parts
Authority, a portfolio company of The Jordan Company (TJC), on its
sale to Kohlberg & Company, LLC (Kohlberg). Parts Authority is
a leading aftermarket distributor of replacement automotive and
truck parts in the United States. The transaction was led by Joe
Conner, Jershon Jones and Elliott Yousefian of the Harris Williams
Transportation & Logistics (T&L) Group and Bob Baltimore,
Taylor Morris and Phil Ashkenaz of the Harris Williams Specialty
Distribution Group.
“With more than 40 years of experience in the automotive
aftermarket, Parts Authority is one of the preeminent parts
distributors in the country,” said Joe Conner, a managing director
at Harris Williams. “With an unrelenting focus on service and parts
availability, Parts Authority’s model has proven to be highly
successful in the market which has driven tremendous organic and
M&A related growth for decades. We look forward to seeing the
company, in its new partnership with Kohlberg and TJC, continue to
execute on its strategic plan.”
“It was a pleasure working with the Parts Authority management
team and TJC on this transaction,” added Bob Baltimore, a managing
director at Harris Williams. “By leveraging the expertise of both
our Specialty Distribution Group and T&L Group, we were able to
help Parts Authority find the optimal partner for their next
chapter.”
Parts Authority, founded in 1972, is a leading national
distributor of automotive replacement parts, tools and equipment.
Headquartered in Long Island, New York, Parts Authority is rapidly
expanding, and today has more than 200 locations servicing
customers in New York; New Jersey; Pennsylvania; Maryland;
Washington, D.C.; Virginia; Ohio; Georgia; Florida; Texas; Arizona;
California; Oregon; Washington; Massachusetts; and Utah. Parts
Authority has grown through both organic initiatives and
acquisitions. Over the past several years Parts Authority has
acquired over a dozen companies as part of its geographical
expansion initiative.
TJC, founded in 1982, is a middle market private equity firm
that has managed funds with original capital commitments in excess
of $11 billion since 1987 and a 38-year track record of investing
in and contributing to the growth of many businesses across a wide
range of industries including industrials; transportation and
logistics; healthcare and consumer; and telecom, technology and
utility. The senior investment team has been investing together for
over 20 years and it is supported by the Operations Management
Group, which was established in 1988 to initiate and support
operational improvements in portfolio companies. Headquartered in
New York, TJC also has an office in Chicago.
Kohlberg is a leading private equity firm headquartered in Mount
Kisco, New York. Since its inception in 1987, Kohlberg has
organized nine private equity funds, through which it has raised
over $10 billion of committed equity capital. Over its 33-year
history, Kohlberg has completed 81 platform investments and
approximately 200 add-on acquisitions, with an aggregate
transaction value in excess of $25 billion.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad
range of attractive niches, including automotive and heavy duty
vehicle, transportation equipment, third-party logistics (3PL), and
truck, rail, marine and air transportation. For more information on
the firm’s T&L Group and other recent transactions, visit the
T&L Group’s section of the Harris Williams website.
Harris Williams’ Specialty Distribution Group has experience
across a variety of sectors, including automotive and heavy duty
aftermarket; building products; consumer; electrical and
communications; foodservice; healthcare; industrial; and
technology. For more information on the firm’s Specialty
Distribution Group, visit the Specialty Distribution Group’s
section of the Harris Williams’ website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
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