OEConnection (OEC), the leading automotive technology provider for original equipment manufacturers’ (OEM) distribution networks, announced today that it has signed an agreement to acquire Bluegrasscoms (BGC), a leading UK-based automotive business consultancy and service provider focused on the collision and aftersales market segments.
Headquartered in Newbury, England, BGC streamlines key operations for its customers across Europe, with a strong focus on the collision industry. BGC’s VISION software provides body shops with one-stop access to original equipment parts from OEMs, providing pricing, availability and backorder status. The union of OEC and BGC will allow OEC to provide the market-leading collision platform to current and prospective European OEM customers, with the goal of growing their collision and aftersales business.
As the auto industry’s leading provider of SaaS-based solutions for original equipment parts, OEC is known for its exceptional data management, ecommerce, pricing, supply chain, cataloging, service and business intelligence solutions, across North America, Europe and Asia Pacific. OEC is the only provider to offer solutions in each market segment, providing an unmatched suite of solutions that focus exclusively on OEMs, their dealer networks and repairers. BGC brings complementary products and services to the OEC suite of solutions, including the ability to work more closely with OEMs to further drive efficiencies through their parts ordering, database and sales systems.
“Bluegrasscoms extends the OEC footprint and will help us grow both in the depth and breadth of our offerings with new and existing customers”, remarked Chuck Rotuno, OEC Chairman & CEO. “We look forward to working closely with Stuart and the BGC team to support the global needs of our OEM, dealer and repair facility customers.”
“Whilst BGC is recognised as the leading collision and aftersales service provider in the UK, working with Chuck and his OEC management team will provide us with a strong platform to further accelerate our European expansion,” added Stuart Bartlett, Bluegrasscoms CEO. “We are excited to be joining OEC and look forward to providing an enhanced suite of solutions to our collision and aftersales customers.”
“The acquisition of Bluegrasscoms is another critical step in OEC’s strategy to expand its global reach in the automotive technology industry,” said Davis Noell, Managing Director of Providence Equity Partners, majority owner of OEC. “Given OEC’s continued strong organic growth and the acquisition of BGC, the company now expects to exceed $160m in revenue in 2018.”
OEC will continue to operate from its numerous offices internationally and will maintain its global headquarters in Cleveland, Ohio, European headquarters in Chelmsford, England and the BGC office in Newbury, England.
The deal is subject to customary conditions including receipt of required regulatory approval and is expected to close during the 4th quarter, 2018.