Our recap of the week’s top news kicks off with news of more expansion for Fisher Auto Parts. This week, Federated Auto Parts’ founding member announced it is buying McLaughlin Automotive Stores, a 37-year-old entity providing service to Rhode Island through eight stores and a warehouse. It is the latest in a string of activity resulting in significant growth for Fisher. Fisher’s acquisition of McLaughlin comes on the heels of its 2010 acquisition of the Pat Young Service Co.’s 46 company-owned stores and dozens of independent jobbers in Ohio. In addition, a 340,000-square-foot distribution center in Staunton, Va., is scheduled to open in December, increasing the total space in Staunton to more than 750,000 square feet.
Another highly read item on AMN this week was our exclusive Executive Interview with Mike Watson, global managing director for Valspar. In his current role, Watson has led the restructuring and re-launch of the PlastiKote automotive brand. PlastiKote has a long, rich heritage in the automotive marketplace and over time, had seeped into other non-automotive categories. Under Watson’s guidance, the new PlastiKote has returned to its roots through reinvestment in such areas as new product formulations, brand identity and customer support programs. In the interview, Watson gives us an update on the Plastikote re-launch and also gives us a sneak peek of new products the company will introduce next month at AAPEX.
There were more acquisitions within the distribution segment this week. LKQ Corp. on Oct. 1 acquired Euro Car Parts, the largest distributor of automotive aftermarket parts in the United Kingdom. Established in 1978, Euro Car Parts has more than 3,500 employees serving more than 120,000 commercial customers from 89 locations throughout the U.K., offering a broad product line of 114,000 SKUs. The initial purchase price was $347 million. In addition, the purchase agreement provides that the purchase price could increase by up to $85 million if Euro Car Parts meets certain growth targets in 2012 and 2013. Robert Wagman, president and co-CEO of LKQ Corp., said the acquisition presents an “ideal entry point” for the company into the U.K. market.
In other top news, DENSO Sales California was recently selected for National Pronto Association’s 2011 Original Equipment (OE) Supplier of the Year award. The award was presented to Frank Cisek, senior manager; Brian Casey, national sales manager; David Arriaga, programs group manager; Harry Quirk, regional sales manager and Steve Phillips, senior specialist, during Pronto’s fall membership meeting Sept. 21. DENSO earned this same honor from Pronto in 2006, 2008, 2009 and 2010, as well. DENSO supplies Pronto with oxygen sensors, spark plugs, starter/alternators, spark plug wires, fuel pumps, A/C compressors, wiper blades, receiver dryers and oil, ignition coils, radiators, condensers, mass air flow sensors, relays, fuel injectors and air filters.
Last in our roundup of the week’s most popular news, AMN readers were interested to learn that President George W. Bush will be the keynote speaker for NTEA’s Work Truck Show in 2012. President Bush will speak at the President’s Breakfast & NTEA Annual Meeting on Wednesday, March 7. The Breakfast event runs from 7:30–9:15 a.m. The Work Truck Show 2012 will be held at the Indiana Convention Center, March 5-8, 2012 in Indianapolis, Ind. At the Work Truck Show, the 43rd president of the United States will offer his insights into the challenges facing our nation in the 21st century, the power of freedom, the role of faith and other timely and pressing issues.
