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Carquest, Worldpac Announce Opening Of New DC In Ontario
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By Counterman
WAI Global, in conjunction with the University of the Aftermarket Foundation (UAF), recently announced the WAI Global/Bill Ernst Memorial Scholarship.
The WAI Global/Bill Ernst Memorial Scholarship will present one $2,500 annual scholarship designated for a student pursuing a career in the automotive aftermarket.
The scholarship is available to students in two-year technical college programs and vocational schools and four-year college programs and subject to the same requirements as other UAF scholarships: applicants must be enrolled full-time in a college-level program or an ASE/NATEF (National Automotive Technician Education Foundation)-certified automotive technical program.
Graduate programs and part-time undergraduate programs do not qualify.
“Bill Ernst was employed by WAI for 20 years as a warehouse manager, account manager and senior account manager,” WAI said in a news release. “He represented all that was good in a dedicated employee. He was tenacious in obtaining new and retaining current business, driven by what was in the best interest of the company and the customer. He was universally well-liked, and a true pillar of the remanufacturing industry. Applicants should consider these attributes when applying.”
Recipients will be chosen by a selection committee appointed by the University of the Aftermarket Foundation (including a representative from WAI Global), using completed electronic applications filed at
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By Counterman
The Automotive Parts Services Group (The Group), a joint venture of The Pronto Network and Federated-Alliance, recently announced a national supply agreement with Monro Inc. on behalf of member distributors.
“The ability to provide national coverage through our collaboration with a single central billing process is key with national customers like Monro,” said Larry Pavey, CEO of the Automotive Parts Services Group. “By working together, our members are able to deliver the same benefits as retail competitors, as well as local expertise and dedication to the needs of professional service providers. This agreement provides members of The Group with the opportunity to offer premium parts and service to Monro and their more than 1,300 locations through an efficient, coast-to-coast system integration.”
The national supply program will begin in several pilot areas and will expand throughout the country in future weeks.
“We are excited about the agreement and working with The Group members who focus on serving professional service providers,” said Austin Phillips, vice president of marketing, merchandising and commercial for Monro. “We are impressed with The Group’s ability to develop integrated processes that allow their different members to act as one company which was essential to us. We recognize that working with their members and high-quality suppliers will allow our stores to provide enhanced value and service for our customers.”
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By Counterman
New Advance Auto Parts CEO Shane O’Kelly served as a U.S. Army captain in the 1990s after graduating from the U.S. Military Academy at West Point.
Early in Advance’s third-quarter conference call on Nov. 15 – during which the company reported an operating loss of $43.7 million – O’Kelly said his time in the military taught him the importance of aligning an organization “around fewer measurable goals while ensuring while ensuring discipline and accountability in the process to achieve those goals.”
O’Kelly, who replaced Tom Greco as CEO on Sept. 11, then outlined five “decisive actions” that Advance is taking “to help stabilize the company and return to profitable growth.”
The headliner was the company’s decision to divest its most prized asset: Worldpac.
Advance acquired Worldpac and Carquest in 2014 through its acquisition of General Parts International Inc. At the time, Advance boasted that the transaction created the largest provider of aftermarket parts in North America.
Centerview Partners, an investment-banking and advisory firm, will assist with the sale process, according to the company.
“Worldpac is a high-performing business and as you know, is very different than our core blended-box model,” O’Kelly said during the conference call. “As we get back to the fundamentals of servicing our professional and DIY customers, we view now as the right time to simplify our model. The Worldpac business still operates relatively independently from Advance, and we believe that the sale process will not create a distraction.”
In a separate sales process, Advance plans to divest its business in Canada. Advance’s Canadian business – which goes to market under the Carquest banner – predominantly serves DIFM customers.
As part of its operational review launched in August, Advance also announced a cost-cutting program that the company expects to generate at least $150 million in annualized savings. While Advance’s Q3 net sales were up 3% to $2.7 billion, the company reported negative cash flow through the first three quarters of 2023 – an outflow of $156.8 million.
The cost-reduction program “will be primarily driven by simplifying our organizational structure, minimizing duplicative efforts and eliminating investments that are not core to supporting our frontline team members and customers,” O’Kelly said.
O’Kelly noted that Advance plans to reinvest approximately $50 million from the cost-cutting program “to improve the retention of our frontline teams and ensure we have experienced team members to serve our customers.”
“In fact, we began making changes to our frontline compensation structure in Q3 and are already seeing a reduction in turnover in targeted frontline roles,” he added.
Advance Appoints New CFO
Coinciding with its third-quarter earnings announcement, Advance announced the appointment of Ryan Grimsland as executive vice president and chief financial officer, effective Nov. 27.
Tony Iskander, who has served as interim chief financial officer since August, will continue in his role as senior vice president, finance and treasurer.
Grimsland, 46, brings more than 20 years of experience in corporate finance, treasury, financial planning and retail strategy and transformation.
Most recently, Grimsland served as senior vice president, strategy and transformation at Lowe’s Companies. During his 17-year tenure at Lowe’s, he held leadership roles across all aspects of the finance organization, including senior vice president, corporate finance and treasurer; vice president, corporate financial planning and analysis; and vice president, stores finance.
During Advance’s Nov. 15 conference call, O’Kelly said Grimsland “has a strong track record of driving organizational improvements while implementing best practices to resolve complex issues.”
“In addition to our CFO announcement, we’ve taken action to streamline our management structure,” O’Kelly added. “We have reorganized parts of my leadership team and transitioned responsibilities for our marketing, merchandising and e-commerce functions to the appropriate leaders in our organization who will drive enhanced collaboration and accountability.”
As part of that reorganization, Advance announced that it is eliminating the position of executive vice president, merchandising, marketing and e-commerce, currently held by Jason McDonell. McDonell will depart from the company effective Dec. 1.
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By partsman
Advance Auto Parts announced today, as part of their Q3 earnings release, that they are initiatiating the sale of their Worldpac and Canadian businesses (operates under Carquest).
Strategic Review Update
The company has initiated separate sale processes for the potential divestiture of Worldpac and the company’s Canada business. Worldpac, a leading automotive wholesale distributor of original equipment and aftermarket parts for all makes/all models, is highly recognized for its world class technology, catalog, product brand assortment and training. The company's Canadian business, which predominantly serves commercial customers, goes to market under the Carquest banner.
The company has engaged Centerview Partners to assist in the sale processes. The company has not set a timetable for the conclusion of the sale processes and does not intend to comment on or provide updates regarding these matters unless and until the processes are concluded or it determines that further disclosure is appropriate or required.
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By Counterman
Lumileds received the Best New Tool for Repairs Award for its Philips Xperion 6000 UV Pillar work light from the Import Vehicle Community at AAPEX in Las Vegas.
“We designed the Philips Xperion 6000 UV Pillar as a multi-purpose work light that helps technicians save time, money and space in their tool chest,” noted Aubry Baugh, Lumileds senior manager, aftermarket marketing leader, NA. “This innovative light features three light sources: a main light rated CRI95 for color matching; a 180-lumen spotlight; and a very handy UV inspection light for critical repair jobs. The Xperion 6000 UV Pillar is three lights in one and allows techs to carry a single tool.”
Featuring an articulating LED panel for precise beam placement, a swiveling hook and powerful magnetic base, the Xperion 6000 UV Pillar can be placed in nearly any location or position to deliver light exactly where it is needed. The light features a rechargeable lithium battery for exceptional battery life, according to the company, and it’s compatible with the Philips multi-dock recharging station.
If the light is ever misplaced, technicians can find it anywhere in the shop by making it beep and flash with the optional Philips “Find My Device” key fob.
Designed to withstand the demands of automotive repair work, the Xperion 6000 UV Pillar is rated IP65 against intrusion by fluids and IK07 against impacts. The ABS rubber surfaces retain excellent grip, even in the presence of grease and oil, according to the company.
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