Harris Williams Advises Parts Authority on its Sale of a Majority Interest to Kohlberg & Company, LLC

Rhea-AI Summary

Harris Williams has advised Parts Authority on its sale to Kohlberg & Company. Parts Authority is a leading aftermarket distributor of automotive and truck parts in the U.S. The company has a strong market presence with over 200 locations across several states. The transaction aims to enhance Parts Authority's strategic growth following its history of organic expansion and acquisitions. The advisory team from Harris Williams included managing directors specializing in Transportation & Logistics and Specialty Distribution.

Positive

• Parts Authority has over 200 locations, enhancing its market presence.
• The partnership with Kohlberg is expected to support Parts Authority's strategic growth.

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• None.

RICHMOND, Va,--(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.