OEConnection LLC (OEC), a automotive technology provider for OEM distribution networks, has announced that its purchase of Clifford Thames Group (CT) was completed on June 30.
OEC says the unified company will create a global parts and service business unmatched in the auto industry, with 13 offices spread across four continents, providing solutions that help OEMs and their dealer networks grow market share and increase sales of OE parts in every market segment.
CT is the leader in creating and managing the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies and their partners. CT brings complementary products and services to the OEC portfolio, as well as an international footprint and heritage that will help drive global growth for the company.
“The combination of CT and OEC means great opportunity for the industry,” said Chuck Rotuno, chairman and CEO of OEC. “The new OEC is the only global one-stop shop that provides the means for automakers and dealerships around the world to deliver parts and service information quickly and accurately into the hands of repairers in collision, fleet, mechanical and retail segments, as well as their own service lanes, through a suite of parts cataloging, supply chain, pricing, ecommerce, service and business intelligence solutions.”
“Separately, OEC and CT were leaders in our respective categories,” added Calvin Barnett, president of CT. “Together, we now lead across all categories, with solutions and innovations that work together in synergy to enable us to enhance our offering to both our current and future customers.”
“We are excited to once again make a significant investment in OEC that is not only highly synergistic, but transformational to the business,” said Davis Noell, managing director of Providence Equity Partners, majority owner of OEC. “Both OEC and CT had record years in 2016 with revenue growth in excess of 20 percent and combined now have over $130m in revenues, setting up OEC to capitalize on further opportunities ahead.”
The expanded OEC company will continue to operate from its numerous offices around the globe and will maintain its headquarters in Cleveland, as well as CT’s main office in Chelmsford, England.