Parts Authority Acquires Quality Automotive Warehouse

Parts Authority Acquires Quality Automotive Warehouse

Quality Automotive operates 10 locations in the Mid-Atlantic region, of which seven are in Maryland and three in Virginia.

Parts Authority, one of the largest distributors of automotive and truck parts, has acquired Quality Automotive Warehouse Inc. Quality Automotive operates 10 locations in the Mid-Atlantic region, of which seven are in Maryland and three in Virginia. For more than 50 years Quality Automotive has been known for its extensive inventory of quality, name brand parts coupled with a reliable service commitment to all of its customers.

“We are excited to add Quality Automotive to the Parts Authority family. The team at Quality Automotive has built a great business over the years and has developed a strong reputation in the industry. This acquisition strengthens our position in the Baltimore, Maryland and District of Columbia area and expands our footprint into the Virginia market,” said Randy Buller, president and CEO of Parts Authority. “We look forward to providing our Quality Automotive customers with access to even more products and services. Equally as important, we look forward to working with our new team members at Quality Automotive and providing them with a great place to continue their careers.”

“We look forward to building upon the many years of successes we have achieved as we move forward under the Parts Authority ownership. Parts Authority shares the three most important criteria we were looking for in a partner – a common culture, an opportunity for our employees to continue to have an employer who values its team members, and the ability to continue to grow faster and with more resources,” said Mark Bond, president and CEO of Quality Automotive. “Over the course of our conversations we got to know the Parts Authority team better as a company and as individuals. Every interaction has reinforced that we share a common vision. It became clear they were the right partner and that now was the right time.”

You May Also Like

Standard Motor Products Releases Q4, 2023 Year-End Results

Eric Sills, chairman and CEO, said the company is looking to continue to find ways to better service customers and explore opportunities to partner for growth in 2024.

Financial-results

Standard Motor Products, Inc. released its consolidated financial results for the fourth quarter and full year ending December 31, 2023. The company reported fourth-quarter net sales of $290.8 million, compared to $308.2 million in the same period in 2022. Earnings from continuing operations for the quarter were $7.2 million or $0.32 per diluted share, down from $8.5 million or $0.39 per diluted share in Q4 2022. Excluding non-operational gains and losses, earnings were $8.2 million or $0.37 per diluted share, compared to $15.1 million or $0.69 per diluted share in the previous year.

Phinia Reports Q4 Results & 2024 Outlook

Phinia reported that it expects strong earnings and cash generation in 2024, driven by operational efficiencies, and growth in aftermarket sales.

financial results
GPC Delivers on 2023 Financial Goals

GPC reported mid-single-digit total sales growth and its third consecutive year of double-digit earnings growth.

MPA Reports Strong Financial Results for Fiscal Q3 2024

MPA’s Q3 results showed increases in net sales, operating income and cash flow from operating activities.

O’Reilly Reports Q4, Full-Year 2023 Financial Results

The company said it anticipates continued growth in 2024, with projections including 190 to 200 net new store openings.

financial results

Other Posts

Solero Technologies to Acquire Kendrion’s Automotive Business

The acquisition would expand Solero’s presence with the addition of five European plants located in the Czech Republic, Germany and Romania, as well as one plant in the U.S.

Solero Technologies to Acquire Kendrion's Automotive Business
Dill Air Controls Acquires Exactra, Inc.

“The expertise and equipment from Exactra’s many years of experience in the industry are critical to our continued growth,” said Brian Rigney, Dill president.

Dill Air Controls Acquires Exactra Inc.
Fenix Parts Completes Acquisition of Neal Auto Parts

Neal is an automotive recycler servicing the Central Illinois market with a population of approximately 1.3 million people.

Sun Auto Tire & Service Expands Texas Store Count

The company has acquired Carrollton Complete Automotive, which offers a range of automotive services.

Sun Auto and Tire