Hart Marx Advisors LLC, a newly formed partnership between aftermarket veterans Devin Hart and Tom Marx, has acquired the assets of Marx Group Advisors. The new entity will continue to provide industry-specific guidance and expertise to companies within the aftermarket in the mergers and acquisitions (M&A) arena.
Hart has been named managing partner of the new firm. Partner Tom Marx, founder and owner of aftermarket marketing communications firm The Marx Group Inc., sees the move as complementary for both companies’ growth. Hart was named president and co-CEO of The Marx Group in 2015. Marx also is co-CEO of The Marx Group.
Most recently, Hart and Marx addressed the topic of growth in their presentation, “How You Can Benefit from Aftermarket Consolidation,” at the CAWA leadership conference held in Napa, California. They report that the information provided in the session was well received by the audience of distributors and suppliers, especially in light of constant consolidation activity facing leaders in the aftermarket, and a current business environment that is driving M&A activities to all-time high levels.
“Consolidation introduces change, and with it, opportunity to achieve growth beyond current industry standard projections for organic-only growth,” said Marx. “We wanted to address those concerns and look at ways aftermarket leaders can effectively manage their company’s growth, as well as capitalize on opportunities that present themselves during this period of strong consolidation activity.
Combined, Hart and Marx have more than 25 years of experience in the M&A field, in addition to years of aftermarket business management experience. The two say this new organization will be more capable than ever before, as the firm accesses a formidable network of relationships within the Tier 1, Tier 2, automotive, performance and commercial vehicle aftermarkets.