FAIR LAWN, NJ -- On June 30, KEM Manufacturing announced it had reached an agreement to be acquired by the private equity investor group Jordelle Partners, LLC. The closing of the deal is scheduled for mid-August.

The newly acquired company will do business as KEMPARTS and all management and operations will remain in place.

According to a statement from KEM President Richard Brown, this new partnership will allow for considerable debt reduction and deliver a significant equity infusion into KEMPARTS.

"This capital infusion will strengthen KEM, enabling us to restore service levels to our previous high standards and seek strategic acquisitions/alliances to focus our marketing efforts of delivering OEMatch parts to the aftermarket," wrote Brown. "Our initial plans will concentrate on building inventory, elevating order fill and bringing all credits current. We will now have the resources we need to regain the status of being OE the best supplier you do business with."

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