OEConnection Holdings LLC, the holding company whose portfolio includes OEC, announced that it has added to its portfolio by signing a definitive agreement to purchase Clifford Thames Group, a leader in automotive data creation and management.
Headquartered in Chelmsford, England, with offices in Detroit; Melbourne; Krakow, Poland; Bonn, Germany; Paris; and Chennai, India, Clifford Thames (CT) creates and manages the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies and their partners. CT works with many of the leading auto manufacturers around the world.
As a provider of ecommerce technology for OE parts for the auto industry, OEC is known for its solutions across North America, Australia and New Zealand. CT brings complementary products and services to the portfolio of OEConnection Holdings, and an extensive international footprint and unrivaled heritage that will help drive global growth for the company.
“CT provides a significant platform to drive global growth for our overall business,” said Chuck Rotuno, chairman and CEO of OEConnection Holdings. “We look forward to adding their capabilities and products to our portfolio, alongside OEC, to support the global needs of our OEM and dealer network partners.”
“This is a win not only for OEConnection Holdings but also for CT,” said Calvin Barnett, CEO of Clifford Thames Group. “This is one case where the whole is greater than the sum of the parts.”
The deal is subject to customary conditions, including receipt of required regulatory approval, and is expected to close by the end of the second quarter of 2017.
