Transtar Industries, Inc., a provider of driveline solutions, has acquired the assets of TPS Transmission Supply, a Texarkana, Texas-based supplier of original equipment (OE) and aftermarket transmission replacement parts. TPS’ business will be integrated into Transtar’s Central Region operations; terms of the sale were not disclosed.
“We are excited about this acquisition, and the attractive market opportunities it will deliver in this important region,” said Tim Bowes, Chief Executive Officer of Transtar. “Our organizations share the same focus on customer service. TPS is a great fit for Transtar, and I look forward to the significant regional presence they’ll bring going forward.”
Pete Kaburick, President and CEO of TPS stated, “I’ve enjoyed a professional relationship with members of the Transtar organization for many years. We’ve long been familiar with their business, and watched them grow into an industry-leading distributor. I’m very pleased to join forces with their highly-respected team, and anticipate a smooth transition for our customers and employees.”
Transtar’s distribution network consists of more than 80 locations in the USA, Canada and Puerto Rico, and an international division that serves a global network of aftermarket automotive distributors in 80 countries. TPS has five locations in Texas, Arkansas and Louisiana, and approximately 35 employees. TPS’ transmission repair business, Kason, was not part of the sale to Transtar and will continue to operate independently under its current name.
“This acquisition allows us to have a physical presence in this part of the country,” explained Corby Wilemon, Vice President, Central Region. “While we do ship to customers in these cities, we look forward to offering same day service from local Transtar branches as well as serving the significant customer base that TPS already has established."
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