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O’Reilly Automotive, Inc. Announces Dates for its Second Quarter 2020 Earnings Release and Conference CallBy Auto News
SPRINGFIELD, Mo., July 01, 2020 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2020 results as Wednesday, July 29, 2020, with a conference call to follow on Thursday, July 30, 2020.
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Uni-Select Inc. announced that, effective June 1, 2020, Uni-Select Canada Inc. has joined the Aftermarket Auto Parts Alliance, Inc. (the “Alliance”), the premier global network of independent automotive warehouse distributors, thus forming the largest Canadian group in this sector.
Uni-Select Inc. is a leader in the distribution of automotive refinish and industrial coatings and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada and in the U.K.
“We are glad to join the Alliance as we are both driven by entrepreneurial spirit and have a strong commitment to the aftermarket,” said Brent Windom, president and CEO of Uni-Select. “This association will enable Uni-Select to accelerate our technological development while reducing development time to deliver world-class data management metrics across our customer spectrum. While both organizations and their respective brands will remain fully independent, we expect that our collaboration will drive increased brand recognition for Bumper to Bumper in North America and will maximize the impact of our newly launched Bumper to Bumper Auto Service program.”
Added John R. Washbish, president and CEO of the Alliance, “Uni-Select is an outstanding company led by some fine people, some of whom I have known for decades. They have an extensive footprint and an even more impressive reputation, and we are delighted to welcome them to the Alliance. We are confident this relationship will be mutually beneficial, and we look forward to working together and supporting our channel partners.”
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LITTTLETON, Colo.--(link hidden, please login to view)--APC Automotive Technologies, LLC, together with certain of its subsidiaries, (“APC” or the “Company”), today announced that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with key stakeholders, including its asset-based lenders, 74% of its term loan lenders that are eligible to vote, and significant financial sponsors (the “RSA Parties”).
The restructuring transaction contemplated under the RSA will reduce APC’s outstanding indebtedness by approximately $290 million on a net basis, significantly strengthening the Company’s balance sheet and enhancing financial flexibility going forward. The RSA represents the commitment of the RSA Parties to support a comprehensive restructuring of the Company’s balance sheet.
Tribby Warfield, Chief Executive Officer of the Company, said, “The agreement with our lenders and equity sponsors represents their belief in APC’s business and their confidence in its future success. We are fortunate that APC possesses a market-leading underbody portfolio of highly regarded brands including Centric Parts®, StopTech®, AP Emissions®, Durafit® and Eastern Catalytic®, strong market recognition, and an exceptional customer base. Most importantly, we have an amazing team that is committed to providing quality products and excellent service to the industry.”
“This restructuring was designed to ensure that our ongoing business and service to customers continues without interruption, and I am confident that the steps we are announcing today will enable the Company to further enhance its ability to serve customers and invest in additional growth for years to come.”
To implement the financial restructuring contemplated under the RSA, the Company has filed voluntary petitions for reorganization pursuant to chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware on June 3, 2020.
The Company will continue to solicit votes on its plan of reorganization during the chapter 11 filing. Because the Company’s plan has already received significant support from its lenders, the Company expects to complete the confirmation process and emerge from bankruptcy within the next month.
In addition, the Company has negotiated agreements with certain of its existing term loan lenders to provide APC $50 million of additional financing in the form of debtor-in-possession financing, which will roll into an exit term loan facility. This will ensure APC’s ability to operate on an uninterrupted basis.
APC will continue to operate in the ordinary course during the restructuring process, with adequate liquidity to meet its financial obligations to vendors, suppliers, and employees. The Company expects to continue making payments to these parties without interruption. Furthermore, the Company will continue to both receive inventory as well as take and fulfill customer orders as usual. The Company has also filed customary “first day” motions to facilitate its day-to-day operations during the restructuring process.
Parties with questions about the chapter 11 process may contact the Company’s Claims and Solicitation Agent, Stretto, at 855.260.9397 (toll-free in the U.S.) or 949.407.8590. Stretto has also set up a website at
link hidden, please login to view, which will be updated with court documents and other information. Kirkland & Ellis LLP, Jefferies LLC, and WeinsweigAdvisors LLC are the advisors for the Company. The RSA Parties include, among others: (i) the Term Loan Lender Group represented by King & Spalding LLP and FTI Consulting and (ii) the financial sponsors represented by White & Case LLP.
About APC Automotive Technologies
APC Automotive Technologies is a leading supplier of automotive, light truck, and heavy-duty undercar replacement parts. For more information, visit
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O’Reilly Automotive, Inc. Reports First Quarter 2020 Results and Provides Business Update in Response to COVID-19By Auto News
SPRINGFIELD, Mo., April 22, 2020 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced results for its first quarter ended March 31, 2020, and provided a business update on the Company’s actions in response to the impact from the novel coronavirus (“COVID-19”).
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DAYTONA BEACH, Fla. & RALEIGH, N.C.--(BUSINESS WIRE)--As NASCAR Weekly Series sanctioned events begin to return at select tracks across North America, NASCAR and Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, today announced a multiyear official partnership, designating Advance as the series entitlement sponsor. As part of the agreement, Advance also becomes the “Official Auto Parts Retailer of NASCAR.”
"It's great to have Advance join us in welcoming the return of NASCAR-sanctioned grassroots racing," said Ben Kennedy, vice president, racing development, NASCAR. "Advance’s commitment to our Weekly Series will develop some of the brightest NASCAR talent across North America. Advance has a long history in racing, and we’re thrilled to see its expanded presence from the grassroots all the way through our national series.”
Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand.
“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts. “DieHard stands for durability and reliability and we will strengthen and leverage the brand in other battery categories, such as marine and recreational vehicles. We also see opportunities to extend DieHard in other automotive categories. We remain committed to providing our customers with high-quality products and excellent service. The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”
AmazonBasics High Mileage Motor Oil - Synthetic Blend
AmazonBasics high-mileage synthetic-blend motor oil offers an enhanced level of protection for engines over 75,000 miles. Its synthetic blend combines conventional oil with synthetic for cost efficiency with some of the benefits of a full synthetic. An important part of routine maintenance, the motor oil works well for anything from topping off levels to complete oil changes. Whether it’s a beloved older vehicle or one with an uncertain maintenance history, help protect its engine with AmazonBasics high-mileage, synthetic-blend motor oil.
When selecting parts for a car repair, it pays to know the differences between original and aftermarket parts. Whenever possible, get estimates for both.
Choosing between original and aftermarket car parts — and even used parts of either type — is all about squaring your priorities with your budget.
You’ll have different options depending on the part and the shop. And the best choice will depend on whether you’re trying to keep repairs cheap, restore your car’s appearance after a wreck or soup up your ride.
Original equipment manufacturer (OEM) parts match those that came with your car, and are of the same quality as its original parts. They’re also the most expensive.
The factory-recommended replacement intervals for filters can vary quite a bit depending on the year, make and model of the vehicle, as well as how it is driven. As a rule, older vehicles (those more than 15 to 20 years old) typically have more frequent service intervals than newer vehicles. Why? Because late-model vehicles require less maintenance, thanks to improvements in motor oils, transmission fluids, engine design and filter media.
Many long-life air and oil filters use synthetic fiber media or a blend of cellulose and synthetic fibers to extend filter life.
Changing the oil and filter every 3,000 miles was standard practice decades ago. But it’s no longer necessary because most multi-viscosity oils today are a synthetic blend or a full synthetic that resist viscosity breakdown and oxidation for a much longer period of time. Late-model fuel-injected engines also run much cleaner than their carbureted ancestors, which reduces oil contamination in the crankcase.