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Manufacturing Technology Insights | Thursday, November 12, 2020
Harris Williams has announced that it advised Parts Authority, which is a portfolio organization of The Jordan Company (TJC), on its sale to Kohlberg & Company, LLC (Kohlberg).
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FREMONT, CA: Harris Williams, an investment bank that specializes in M&A advisory services, has announced that it advised Parts Authority, a portfolio organization of The Jordan Company (TJC), on its sale to Kohlberg & Company, LLC (Kohlberg). Parts Authority is a leading aftermarket distributor of replacement automotive and truck parts. The transaction was directed by Joe Conner, Jershon Jones, and Elliott Yousefian of the Harris Williams Transportation & Logistics (T&L) Group. Bob Baltimore, Taylor Morris, and Phil Ashkenaz from the Harris Williams Specialty Distribution Group were also present during the transaction.
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“With more than 40 years of experience in the automotive aftermarket, Parts Authority is one of the preeminent parts distributors in the country,” said Joe Conner, a managing director at Harris Williams. “With an unrelenting focus on service and parts availability, Parts Authoritys model has proven to be highly successful in the market which has driven tremendous organic and M&A related growth for decades. We look forward to seeing the company, in its new partnership with Kohlberg and TJC, continue to execute on its strategic plan.”
“It was a pleasure working with the Parts Authority management team and TJC on this transaction,” added Bob Baltimore, a managing director at Harris Williams. “By leveraging the expertise of both our Specialty Distribution Group and T&L Group, we were able to help Parts Authority find the optimal partner for their next chapter.”
Parts Authority was established in 1972, and it is a leading national distributor of automotive replacement parts, tools, and equipment. The headquarter is located in Long Island, New York. Parts Authority is quickly extending its features, and today has more than 200 locations servicing customers in areas like New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, Ohio, Georgia, Florida, Texas, Arizona, California, Oregon, Washington, Massachusetts, and Utah. Parts Authority has developed through both organic initiatives and acquisitions. In the past few years, Parts Authority has acquired several organizations as part of its geographical expansion.
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