Friends and colleagues of Dorman Products Chairman and CEO Richard N. Berman are mourning his passing this week. His death at the age of 54 was announced by Dorman Board member Paul Lederer. The company previously announced that Berman was receiving medical treatment for an illness and would not be available to provide full-time service the company. Berman had been the company’s chairman and CEO since 1978, and his vision was the guiding force behind the company’s performance. His brother Steven Berman will succeed him in the roles of CEO and chairman of the board. Steven has been with the company since 1978 and has served in a variety of roles including executive vice president, secretary and treasurer.
Another family succession was announced this week as well, but under happier circumstances. CARDONE Industries Inc. has announced that Michael Cardone III was promoted to the position of president, CARDONE Industries, succeeding Frederick Vanstone, who was recently appointed vice chairman of the board. Cardone III is the third generation of the Cardone family to serve as president of the company. His new appointment became effective on Jan. 3. His father, Michael Cardone Jr., continues to serve as chairman and CEO of CARDONE Industries.
In other news, Transtar Industries has announced an expansion of its hard parts offering, through a number of hard parts specialty locations. Each of Transtar’s 59 branches has an extensive hard parts inventory; however, with the proliferation of transmissions, some hard parts have become hard to find. To address this issue, Transtar has expanded its hard parts line to include hard parts for late model as well as import applications. With the addition of hard parts specialty locations, Transtar said it is able to provide all 59 Transtar branches access to any hard part in the company’s inventory within one day.
Also highly read this week was the news that some well-known aftermarket brands will soon find a new home with the Rank Group. Honeywell announced late last week that it plans to sell its Consumer Products Group (CPG) business to Rank Group, a New Zealand-based private equity firm, in a cash transaction valued at approximately $950 million. The CPG business, headquartered in Danbury, Conn., includes four leading consumer automotive brands: FRAM filters, Prestone antifreeze, Autolite spark plugs and Holts car care products. Rank Group also is in the process of acquiring UCI International, parent company of Airtex Products, ASC Industries and Champion Laboratories. Rank is buying UCI for approximately $375 million.
Last in our recap of the week’s top news is today’s announcement that Motorcar Parts of America (MPA) has realigned its senior sales management team to position the company for anticipated growth opportunities and also enhance existing and new customer relationships. Rick Mochulsky, who has served as vice president of traditional sales since joining the company in 2005, has been named vice president of sales succeeding Tom Stricker, who now assumes responsibility for the newly established position of vice president of business development. He is currently involved in due diligence related to Fenwick Automotive and will be engaged in its integration pending the anticipated acquisition. Ron Lacombe, who joined the company in 2008 as director of traditional sales, has been appointed vice president of traditional sales. MPA Chairman, President and CEO Selwyn Joffe confirmed that this realignment has been done, in part, to support the integration of MPA’s acquisition of Fenwick Automotive, expected to occur in the new fiscal year.