CARSON, Calif. — U.S. Auto Parts yesterday completed its acquisition of the Whitney Automotive Group. The online parts retailer purchased the business for $27.5 million, along with the assumption of approximately $11 million in trade-related and other payables.
Whitney Automotive Group is expected to have $110 million to $120 million in revenues under U.S. Auto Parts’ ownership in 2011. Silicon Valley Bank has provided the company with acquisition financing totaling $35 million.
The Whitney Automotive Group, a 95-year-old company best known for the JC Whitney brand, is part of a group of established brands that distribute aftermarket automotive parts primarily focused on the "Do It Yourself" customer in the automotive accessories aftermarket. Its brand portfolio includes Stylintrucks.com, Carparts.com and Allbikesupershop.com, which, along with JCWhitney.com, generate approximately 3 million monthly unique visitors.
Established in 1995, U.S. Auto Parts is an online provider of aftermarket auto parts, including body parts, engine parts, performance parts and accessories. Headquartered in Carson, Calif., U.S. Auto Parts provides individual consumers with a selection of products mapped by a proprietary product database to product applications based on vehicle makes, models and years through its network of websites including at http://www.partstrain.com and http://www.autopartswarehouse.com. The company launched AutoMD.com, which provides vehicle repair estimates and advice to motorists, in January of this year.
In addition to its presence in the accessories market, this acquisition also provides U.S. Auto Parts with product line expansion into ATVs, RVs and motorcycles, as well as deep product knowledge into niche segments like Jeep, VW and truck enthusiasts.
U.S. Auto Parts CEO Shane Evangelist is slated to speak as part of a panel that will discuss "Aftermarket e-Tailing — Who’s Minding the Store?" at the Automotive Aftermarket Suppliers Association Executive Breakfast, which takes place Tuesday, Nov. 2, at The Venetian in Las Vegas in conjunction with AAPEX. For more information about the AASA Executive Breakfast, click here.