CarParts.com Announces Exploration of Strategic Alternatives
CarParts.com (NASDAQ: PRTS), a leading eCommerce automotive parts retailer, has announced it is exploring strategic alternatives to maximize shareholder value, including a potential company sale, following received strategic inquiries. The company has engaged Craig-Hallum Capital Group as financial advisor and Wilson Sonsini Goodrich & Rosati as legal counsel to support this process.
CEO David Meniane highlighted the company's 5-year investment in building a vertically integrated supply chain with nationwide fulfillment network, supporting their ecommerce platform, mobile app, and marketplaces business. While emphasizing their strong potential as an independent entity, management is committed to evaluating strategic options for maximizing shareholder value.
No specific timeline has been set for the strategic review process, and there is no guarantee it will result in any transaction or strategic change. The company will only provide updates upon entering definitive agreements or when disclosure is legally required.
CarParts.com (NASDAQ: PRTS), un rivenditore leader di parti automobilistiche online, ha annunciato di essere in fase di esplorazione di alternative strategiche per massimizzare il valore per gli azionisti, inclusa una potenziale vendita dell'azienda, dopo aver ricevuto richieste strategiche. L'azienda ha coinvolto Craig-Hallum Capital Group come consulente finanziario e Wilson Sonsini Goodrich & Rosati come consulente legale per supportare questo processo.
Il CEO David Meniane ha sottolineato l'investimento quinquennale dell'azienda nella costruzione di una catena di approvvigionamento verticalmente integrata con una rete di distribuzione nazionale, a supporto della loro piattaforma eCommerce, dell'app mobile e del business dei marketplace. Pur enfatizzando il loro forte potenziale come entità indipendente, la direzione è impegnata a valutare opzioni strategiche per massimizzare il valore per gli azionisti.
Non è stata stabilita una tempistica specifica per il processo di revisione strategica e non c'è alcuna garanzia che questo porterà a una transazione o a un cambiamento strategico. L'azienda fornirà aggiornamenti solo al momento della conclusione di accordi definitivi o quando la divulgazione è legalmente richiesta.
CarParts.com (NASDAQ: PRTS), un minorista líder de piezas automotrices en línea, ha anunciado que está explorando alternativas estratégicas para maximizar el valor para los accionistas, incluida una posible venta de la empresa, tras recibir consultas estratégicas. La compañía ha contratado a Craig-Hallum Capital Group como asesor financiero y a Wilson Sonsini Goodrich & Rosati como asesor legal para apoyar este proceso.
El CEO David Meniane destacó la inversión de 5 años de la empresa en la construcción de una cadena de suministro integrada verticalmente con una red de distribución a nivel nacional, apoyando su plataforma de comercio electrónico, su aplicación móvil y su negocio de marketplaces. Si bien enfatiza su fuerte potencial como entidad independiente, la dirección está comprometida a evaluar opciones estratégicas para maximizar el valor para los accionistas.
No se ha establecido un cronograma específico para el proceso de revisión estratégica, y no hay garantía de que resulte en alguna transacción o cambio estratégico. La empresa solo proporcionará actualizaciones al entrar en acuerdos definitivos o cuando la divulgación sea legalmente requerida.
CarParts.com (NASDAQ: PRTS), 선도적인 자동차 부품 전자상거래 소매업체가 전략적 문의를 받은 후 주주 가치를 극대화하기 위한 전략적 대안을 모색하고 있으며, 잠재적인 회사 매각을 포함하고 있다고 발표했습니다. 이 회사는 이 과정을 지원하기 위해 Craig-Hallum Capital Group을 재무 자문사로, Wilson Sonsini Goodrich & Rosati를 법률 자문사로 선정했습니다.
CEO David Meniane은 전국적인 이행 네트워크를 갖춘 수직 통합 공급망 구축에 대한 회사의 5년 투자에 대해 강조하며, 이들이 전자상거래 플랫폼, 모바일 앱 및 마켓플레이스 비즈니스를 지원하고 있다고 설명했습니다. 독립적인 실체로서의 강력한 잠재력을 강조하면서도 경영진은 주주 가치를 극대화하기 위한 전략적 옵션을 평가하는 데 헌신하고 있습니다.
전략 검토 프로세스에 대한 구체적인 일정은 설정되지 않았으며, 이는 거래 또는 전략적 변화로 이어질 것이라는 보장이 없습니다. 회사는 최종 계약을 체결하거나 법적으로 공개가 요구될 때만 업데이트를 제공할 것입니다.
CarParts.com (NASDAQ: PRTS), un détaillant de pièces automobiles en ligne de premier plan, a annoncé qu'il explore des alternatives stratégiques pour maximiser la valeur pour les actionnaires, y compris une éventuelle vente de l'entreprise, suite à des demandes stratégiques reçues. L'entreprise a engagé Craig-Hallum Capital Group en tant que conseiller financier et Wilson Sonsini Goodrich & Rosati en tant que conseiller juridique pour soutenir ce processus.
Le PDG David Meniane a souligné l'investissement de 5 ans de l'entreprise dans la construction d'une chaîne d'approvisionnement intégrée verticalement avec un réseau de distribution national, soutenant leur plateforme de commerce électronique, leur application mobile et leur activité de marketplaces. Tout en soulignant leur fort potentiel en tant qu'entité indépendante, la direction s'engage à évaluer les options stratégiques pour maximiser la valeur pour les actionnaires.
Aucun calendrier spécifique n'a été fixé pour le processus d'examen stratégique, et il n'y a aucune garantie que cela aboutisse à une transaction ou à un changement stratégique. L'entreprise ne fournira des mises à jour que lors de la conclusion d'accords définitifs ou lorsque la divulgation est légalement requise.
CarParts.com (NASDAQ: PRTS), ein führender E-Commerce-Händler für Autoteile, hat angekündigt, strategische Alternativen zur Maximierung des Aktionärswerts zu prüfen, einschließlich eines möglichen Unternehmensverkaufs, nachdem strategische Anfragen eingegangen sind. Das Unternehmen hat Craig-Hallum Capital Group als Finanzberater und Wilson Sonsini Goodrich & Rosati als rechtlichen Berater engagiert, um diesen Prozess zu unterstützen.
CEO David Meniane hob die fünfjährige Investition des Unternehmens in den Aufbau einer vertikal integrierten Lieferkette mit einem landesweiten Erfüllungsnetzwerk hervor, das ihre E-Commerce-Plattform, die mobile App und das Marktplatzgeschäft unterstützt. Während er ihr starkes Potenzial als unabhängige Einheit betont, ist das Management bestrebt, strategische Optionen zur Maximierung des Aktionärswerts zu bewerten.
Es wurde kein spezifischer Zeitrahmen für den strategischen Überprüfungsprozess festgelegt, und es gibt keine Garantie, dass dies zu einer Transaktion oder strategischen Veränderung führen wird. Das Unternehmen wird nur dann Updates bereitstellen, wenn endgültige Vereinbarungen getroffen werden oder wenn eine Offenlegung rechtlich erforderlich ist.
- Company receiving strategic inquiries indicating potential buyer interest
- Established nationwide fulfillment network and vertically integrated supply chain
- Engagement of professional advisors signals serious exploration of strategic options
- No guarantee of successful transaction or strategic change
- Uncertain timeline for process completion
- future updates on process progress
David Meniane, CEO of CarParts.com, stated, "Over the last 5 years, we have made significant investments in building a vertically integrated supply chain with a nationwide fulfillment network to support our best-in-class ecommerce experience, mobile app, as well as our marketplaces business. Our future as an independent company is bright. At the same time, we are committed to evaluating a range of strategic alternatives to maximize value for our shareholders."
CarParts.com has not set a timeline for completion of the exploration of strategic alternatives. There can be no assurance that this process will result in any transaction or other strategic change. CarParts.com does not intend to provide updates on the exploration of strategic alternatives unless and until the company enters into definitive agreements or arrangements with respect to a transaction or otherwise determines that further disclosure is appropriate or required by law.
About CarParts.com, Inc.
CarParts.com, Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories. Operating for over 25 years, CarParts.com has established itself as a premier destination for drivers seeking repair and maintenance solutions. Our commitment lies in placing the customer at the forefront of our operations, evident in our easy-to-use, mobile-friendly website and app. With a commitment to affordability and customer satisfaction, CarParts.com simplifies the automotive repair process, aiming to eliminate the uncertainty and stress often associated with vehicle maintenance. Backed by a robust company-operated fulfillment network, we ensure swift delivery of top-quality parts from leading brands to customers across the nation.
At CarParts.com, our global team is united by a shared vision: Empowering Drivers Along Their Journey.
CarParts.com is headquartered in
Safe Harbor Statement
This press release contains statements which are based on management's current expectations, estimates and projections about CarParts.com's business and its industry, as well as certain assumptions made by CarParts.com. These statements are forward looking statements for the purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Words such as "anticipates," "could," "expects," "intends," "plans," "potential," "believes," "predicts," "projects," "seeks," "estimates," "may," "will," "would," "will likely continue" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our exploration of strategic alternatives, the timing thereof, and future prospects. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, the ability to identify and complete a transaction as a result of the strategic alternatives process, competitive pressures, our dependence on search engines to attract customers, demand for CarParts.com's products, the online market and channel mix for aftermarket auto parts, the economy in general, increases in commodity and component pricing that would increase CarParts.com's product costs, the operating restrictions in its credit agreement, the weather and any other factors discussed in CarParts.com's filings with the Securities and Exchange Commission (the "SEC"), including the Risk Factors contained in Carparts.com's Annual Report on Form 10–K and Quarterly Reports on Form 10–Q, which are available at www.carparts.com/investor and the SEC's website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, CarParts.com expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise.
Investor Relations:
Ryan Lockwood
IR@carparts.com
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SOURCE CarParts.com, Inc.
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