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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
Fenix Parent LLC, operating as
link hidden, please login to view, a Hurst, Texas-based recycler and reseller of OEM automotive parts, announced it has completed its acquisition of the assets of Brothers Auto Parts in Indianapolis. Brothers is a full-service automotive recycler servicing the Indianapolis market. This is Fenix Parts’ sixth acquisition in the Midwest, bringing Fenix’s location count to 24 full-service and five self-service locations.
“We are pleased to announce the acquisition of Brothers and excited about the addition of its experienced and talented team to the Fenix family,” said Bill Stevens, CEO of Fenix Parts. “This acquisition expands our Midwest footprint westward and leverages our existing Midwest distribution network to increase regional production. With a location in the ‘Crossroads of America,’ Fenix gains distribution and logistics access to multiple Midwestern markets as we continue to grow our business.”
Stevens added: “I want to give a special welcome to the team at Brothers. Brothers has been in the auto-recycling business for over 35 years, and we are excited to have Jeremiah Johnson join Fenix to support our continued growth in the area as our general manager of Fenix Parts Indianapolis.”
Fenix Parts continues to pursue opportunities that align with its strategic-development plans. Current auto-recycling owners interested in learning more about Fenix’s acquisition process should contact the company at [email protected].
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By Counterman
Patrick Smith recently joined the KYB Aftermarket team in Greenwood, Indiana, as the business operations manager.
The Army veteran will oversee sales and distribution-center administrative functions, focusing on streamlining procedures and improving efficiencies.
Smith spent 10 years in the U.S. Army as an engineer officer, serving in construction and combat engineer positions. His military career culminated as a company commander at Fort Campbell, Kentucky. He is a graduate of the U.S. Military Academy at West Point and has a master of science in organizational leadership.
After his military career, Smith spent two years working in the technology industry with a focus on supply chain and logistics. Smith stated that “he was looking to join a team-oriented organization with a great culture.” His experience aligned with the role, and he knew that KYB was the right place for him after meeting the team, KYB noted.
“In his new role, Smith will help the KYB Aftermarket team improve operations by achieving new ways to more efficiently and effectively support our customers and teammates,” KYB said in a news release. “Our goal is to be our customers’ best supplier. Patrick main’s assignment is to help keep KYB focused on that objective.”
Originally from Seymour, Indiana, Smith will complete his MBA from the Indiana University Kelly School of Business this fall. He currently resides in Indianapolis with his wife and two sons.
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