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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
Litens Aftermarket introduced its latest product lineup, featuring 28 new SKUs.
The SKUs consist of 15 pulleys covering 4.4 million vehicles in operation (VIO), and 13 belt tensioners covering 3.1 million VIO.
The expansion offers enhanced coverage for more than 7.6 million additional VIO, including coverage for more than 1 million VIO for 2016-2021 Honda models and innovative solutions for popular Ford F-150 applications.
The newly introduced belt tensioners include coverage for the 2016-2021 Honda models, such as the Piolet, Odyssey, Ridgeline and Passport.
“Litens is responding to the demands of millions of customers, enabling technicians to access the right tensioners for proper belt-drive system maintenance,” the company said in a news release. “These portfolio additions are timely as these vehicles approach the point of needing a system reset, ensuring optimal belt-drive system performance. A system reset involves replacing all components of the belt-drive system, including the tensioner, idler pulley(s) and the belt, simultaneously, to maintain proper belt-drive system performance throughout the vehicle’s lifespan.”
The
link hidden, please login to view portfolio expansion also includes extensive coverage for the most popular vehicle on U.S. roads, the Ford F-150, featuring late-model coverage for pulleys and tensioners for more than 1 million VIO. The new tensioners have undergone design enhancements to the OE products, including a lift feature and Litens Technician Assist Pin (TAP). The lift feature adds an extra inch of accessibility for technicians, providing greater ease of access. The Litens TAP eliminates the need for a second set of hands during installation, securely positioning the tensioner for independent and safe belt manipulation. These innovations streamline the replacement process, improving safety and efficiency, according to Litens.
Litens also is introducing a cost-effective and time-saving solution in the form of its new pulley kit, catering to multiple 2015-2022 Volvo applications covering nearly 500,000 VIO. The kit includes all three pulleys in one package, eliminating the need for OE bracket replacement. Vehicle owners now have an affordable option to replace only the components that experience the most wear – the three pulleys – saving technicians the labor-intensive process of removing and reinstalling a bracket with a functioning lifecycle, according to Litens.
“Litens is committed to delivering an innovative, engineering-first approach to the aftermarket,” said Randy Wolters, aftermarket product manager. “Our latest product lineup demonstrates our dedication to providing the most comprehensive range of high-quality OE-manufactured tensioners, designed to enhance the experience and efficiency for technicians.”
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