Kinderhook Industries, the private equity firm that owns asTech and ProCare Automotive & Collision, announced its purchase of Original One Parts, which “represents Kinderhook’s 86th acquisition in the automotive aftermarket,” according to Kinderhook’s June 4th release.
Paul Cifelli, Managing Director at Kinderhook, stated, “We have followed Original One Parts’ story since its inception and are thrilled to have the opportunity to partner with Wade and Jerry as the Company embarks on its next stage of growth. Original One Parts has developed an innovative business model, with a proven track record of success, that has the potential to significantly ‘bend the cost curve’ of vehicle repair in the US. We are excited to add Original One to the Kinderhook portfolio and look forward to building the business in partnership with management.”
Wade Hilburn, President and co-founder of Original One, will serve as CEO, while Original One Executive Vice President and Director Jerry Sullivan will become Executive Chairman. Hillburn said, “Partnering with Kinderhook and their extensive experience and network of relationships in the automotive aftermarket will allow us to fulfill our vision for Original One Parts. Through this partnership, we will consistently deliver the highest quality certified re-conditioned OEM parts with a convenient electronic buying experience at an incredible value.”
“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 United States. Going forward, we are positioned to efficiently and effectively support the ongoing efforts of the automotive repair industry, both collision and mechanical, as it strives to mitigate the increasing cost of repairs driven by the on-going sophistication of high-tech vehicles on the road today,” Sullivan contributed.
Original One Parts provides recycled and refinished certified OEM parts for collision and mechanical repairs. The company also “employs its proprietary VINtegrity™ Certification Process, a rigorous six-step inspection and certification process to ensure all parts meet the exact fit, form and function as a new OEM part. Original One Parts provides repairers with an efficient solution for meeting OEM repair procedures with cost-effective refinished replacements parts.”
More information about these companies can be found at kinderhook.com or originaloneparts.com.