Kinderhook picks up Original One

Private equity firm Kinderhook Industries has bought US-based Original One Auto Parts, a provider of recycled and refinished original equipment manufacturer (OEM) auto parts.

Financial terms were not disclosed.

Dallas-headquartered Original One offers a range of certified OEM parts that can be used for both collision and mechanical repairs.

Its products include electrical cameras, intercoolers, front suspension engine cradles and door mirrors.

The group’s proprietary VINtegrity process carries out a thorough six-step inspection and certification procedure to ensure all items meet the exact fit, form and function as a new OEM part.

Original One’s clients include collision repair shops, dealership service centres, multi-shop locations and other customers.

The target’s co-founder, Wade Hilburn, will become chief executive of the company following the transaction.

Jerry Sullivan, chief executive of Kinderhook’s former company, QCSA Holding, noted: “This partnership will also provide Original One Parts with the access to capital and the resources required to offer an even broader range of high-quality recycled parts to automotive repair facilities throughout the US.”

He added the transaction will allow the business to continue to support collision and mechanical operations within the automotive repair industry and help reduce the costs resulting from high-tech vehicles on the road.

The deal represents another addition to Kinderhook’s vehicle and auto parts portfolio, which already includes the likes of Bestop, KN Rubber, National Truck Protection and Race Winning Brands.

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Located in New York, the buyer has carried out more than 200 investments and follow-on acquisitions worldwide and manages over USD 3.00 million of committed capital.

Zephyr, the M&A database published by Bureau van Dijk, shows there were 132 deals targeting automotive mechanical, electrical repair and maintenance providers announced globally in 2019.

In the largest of these, AMA Group bought a 90.0 per cent stake in Capital SMART Repairs Australia for AUD 397.00 million (USD 274.65 million).

Other companies targeted in this sector include Truck Utilities, Get Spiffy and Kolon Autocare Service.

© Zephus Ltd

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