Investcorp, a global alternative investment firm, today announced its acquisition of S&S Truck Parts (“S&S”), a leading independent distributor of private label and branded aftermarket truck parts. Terms of the transaction were not disclosed.
Founded in Chicago in 1952, S&S has a long history of providing high-quality, engineered aftermarket truck parts. Today, S&S serves over 1,600 customers including Original Equipment Manufacturers (OEMs), OE dealerships, independent warehouse distributors and service shops primarily across North America.
“S&S operates in a large and resilient market that is currently enjoying strong secular tailwinds driven by the demand for trucking services and aging truck fleets,” said Steve Miller, managing director, private equity – North America at Investcorp. “This investment and partnership with the S&S team was a natural extension of our experience in the aftermarket auto and trucking industry. Its leading market position, strong customer relationships and the compelling value proposition of S&S’s private label offering present a highly attractive investment opportunity.”
“Our goal is to always provide our customers with a wide selection of high-quality truck parts and a premium service through our experienced and talented employees,” said DJ Hoffman, CEO at S&S. “We are proud to be partnering with Investcorp, who has an impressive track record in the aftermarket industry and a strong heritage in providing strategic and thoughtful partnership to family and founder-led businesses. This marks an exciting opportunity to further capitalize on the growth of our unique private label and branded offering.”
The partnership will focus on continuing S&S’s organic growth through new product introductions and geographic expansion across North America while seeking to complete strategic, add-on acquisitions. DJ Hoffman will retain a significant ownership stake in the business as part of the transaction.
Investcorp has an established capability of investing across the aftermarket distribution industry with notable past investments including Arrowhead Engineered Products, FleetPride and American Tire Distributors and current portfolio company KSI Auto Parts.