Solera Holdings, parent company of Audatex, said one of its subsidiaries signed a definitive agreement to acquire PS Holdings LLC, whose services are sold under the "APU" brand name. The deal is expected to close in the first quarter of Solera's fiscal year 2013.
Like this article? Sign up to receive our weekly news blasts here.APU is a cloud-based locator of recycled, aftermarket, reconditioned and surplus original equipment parts for the vehicle repair industry. Based in the United States, APU sources these alternative parts from its extensive, qualified network of automotive recyclers, parts distributors, dealers and manufacturers.
APU's customer base consists primarily of insurance carriers, including many of the top U.S. insurance carriers. In the United States, parts purchases represent more than 40 percent of the cost of vehicle collision repair, and insurance carriers view access to a robust total parts supply solution as a critical driver in reducing claims severity.
"This acquisition will be an important milestone in our ongoing effort to provide our customers with software applications and decision support tools that facilitate electronic vehicle parts trading. APU links the demand for parts channeled through our core estimatics with the supply of parts in the collision repair chain, driving additional value to our customers," said Tony Aquila, Solera's founder, chairman and chief executive officer. "APU will build on and extend the part procurement capabilities we deliver through our Audatex and Hollander businesses in the U.S. and abroad. Because of this, we are excited about the opportunities to leverage APU solutions outside the U.S. to help insurers effectively manage their part costs."
Solera's operating company, Hollander, which provides salvage yard management systems and parts locating software to the automotive recycling industry in the United States and Canada, purchased Inventory Technology Systems (ITS) in April 2011. ITS is a U.S.-based provider of products that enhance salvage yard profitability by managing recycled parts logistics and increasing inventory turnover. Proprietary workflow tools that control, track and account for alternative parts movement drive increasing operational efficiency at salvage yards.
Solera is a global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 60 countries across six continents.
For more information, visit www.solerainc.com.
