Parts Authority, one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry throughout the United States, has entered into a definitive agreement to purchase FAST Undercar, Inc and FAST Undercar Franchise Corporation, which operate 32 locations throughout California and the Pacific Northwest. The transaction is expected to close in the coming weeks.
“We are excited to add FAST to the Parts Authority platform. This acquisition is an expansion of our customer touch points and geographies as we continue to build size and scale” said Randy Buller President & CEO of Parts Authority. Of the 32 FAST locations, 27 are franchise-owned and five are corporate-owned. “We believe in the model that FAST Undercar has built in collaborating with individual entrepreneurs to build successful businesses. In addition, the FAST footprint continues our expansion in California and the Pacific Northwest. Through this model, we will also look to expand into other geographies.”
Victor Davis, FAST’s President and CEO, said, “Parts Authority shares our vision and will help us achieve our goals of opening new locations, expand our geographies, bring larger inventories with more selections of branded products closer to our franchisees and ultimately to the professional installer in the shortest time frame. I am particularly excited for all of our FAST team members and the opportunities this provides them under the new ownership.”
About Parts Authority:
Parts Authority, founded in 1972, is one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry in the United States serving customers in the commercial channel, including installers, dealerships, fleets and national accounts as well as in the e-commerce channel. Headquartered in Lake Success, NY, Parts Authority has over 150 locations across the Northeast, Mid-Atlantic, Ohio, Georgia, Florida, Texas, Arizona, California and the Pacific Northwest. Parts Authority is led by President & CEO Randy Buller and a management team with long-tenured industry experience. Parts Authority has grown through both organic initiatives as well as through acquisitions. Over the past several years Parts Authority has acquired over a dozen companies as part of its geographical expansion initiative.
About FAST Undercar:
FAST Undercar is a leading west coast operator and franchisor of wholesale distributors of automotive aftermarket undercar parts. Headquartered in Ventura, California, FAST supplies parts to over 22,000 repair and service customers from 32 locations across California, Washington, Oregon and Idaho. FAST Undercar Franchise owner-operators are entrepreneurs and are supported by a leadership team at FAST that has extensive experience in the automotive aftermarket. The Fast Undercar distribution network supplies its customers through an immediate delivery process using an efficient distribution approach that eliminates the costs associated with regional warehouses. The process allows Fast Undercar to get the right part to a technician quickly so the repair work can be completed for the consumer.
Subscribe to Aftermarket Business World and receive articles like this every month….absolutely free. Click here.