The Green Sheet

K&N Has Been Sold To Private Equity Firm Gryphon Investors

admin — Sat, 04 Feb 2012 02:55:23 +0000

Gryphon Investors, a San Francisco private equity firm, has acquired a majority interest in K&N Engineering (Riverside, CA), which makes washable performance air filters and air intake systems. Financial terms of the transaction were not disclosed. Jerry Mall, a K&N co-founder, along with current management, continue to hold a “significant investment” in the company.

Steve Rogers, CEO of K&N, called Gryphon “the ideal partner” as it embarks upon an expansion phase. “Consumer affinity and demand for our products continues to grow, and there are a multitude of expansion opportunities that we are excited to pursue,” Rogers said. “We believe Gryphon will help us expand within our core customer base and attract others who want to achieve the highest performance from their cars and trucks.”

This is Gryphon’s second investment in the automotive aftermarket. The firm acquired MSD Ignition back in 2004, selling it a year later. Among those advising Gryphon on the K&N deal was Adam Raper, a former president and CEO of MSD.

AP Exhaust Has Acquired ANSA

admin — Sat, 04 Feb 2012 02:54:47 +0000

Goldsboro, NC-based AP Exhaust Technologies has acquired the assets of Macon, GA-based ANSA Automotive Parts Distributors with the sale finalizing Dec. 23, 2011. While the terms of the transaction were not disclosed, we know that all assets of ANSA, including inventory, were sold to AP Exhaust and have been relocated from Macon to Goldsboro. The deal was brokered by Marx Group Advisors.

Founded in 1927, AP Exhaust manufactures a complete line of OE replacement and performance exhaust and emissions products for automotive, light truck, heavy duty, agricultural and industrial markets. ANSA is a manufacturer of OE replacement direct fit exhaust systems for import vehicles under the ANSA brand and diesel light truck performance exhaust systems under the Silverline brand.

Aftermarket Auto Parts Alliance Adds Two Members

admin — Sat, 04 Feb 2012 02:52:09 +0000

The Aftermarket Auto Parts Alliance added two new members late in 2011: National Auto Parts Warehouse (NPW) and Autopartes El Progreso. NPW of Miami joined as a Bumper to Bumper shareholder, while El Progreso of La Paz, Mexico came in as an Auto Value shareholder.

El Progreso has one warehouse facility in La Paz, along with four company-owned parts stores in the extreme southern region of Baja California Sur, with a fifth scheduled to open this year. The Osuna family began their business ventures in La Paz in 1930 and became dedicated to auto parts distribution in 1956. In 1984, upon the opening of a 12,600-square-foot facility in La Paz, the company became Autopartes El Progreso.

NPW operates warehouse facilities in Florida and California. Larry Pacey, president and CEO, started NPW in 1969 as a carburetor rebuilder. Pacey’s participation in NHRA, IHRA and AHRA drag racing led NPW to become a premier warehouse distributor for speed equipment and performance product lines. NPW had been a Parts Plus member of the Automotive Distribution Network, which it joined in 2010.

ESL Cuts Its AutoZone Position

admin — Sat, 04 Feb 2012 02:50:33 +0000

Funds affiliated with ESL Partners, a hedge fund controlled by former AutoZone director Eddie Lampert, has reduced its stake in the Memphis-based company from 21.7 percent to 12.6 percent. A little more than a year ago, according to Bloomberg, ESL held 33.8 percent of AutoZone’s outstanding stock.

Lingenfelter Unveils New Parts Dealer Purchase Program

admin — Sat, 04 Feb 2012 02:50:05 +0000

Decatur, IN-based Lingenfelter Performance Engineering has introduced a new purchase program for aftermarket performance dealers, distributors and tuners that’s called the LPE Parts Dealer Program. As part of the program, authorized LPE parts dealers will be able to purchase Lingenfelter-developed components at a discounted rate. Products range from CNC cylinder heads and ZR1 front supercharger cover assemblies to LPE electronics products and suspensions kits.

The LPE Parts Dealer Program is divided into three categories that determine purchasing rates:
• LPE authorized part dealer, which requires the company to meet a $2,500 annual purchase and supply a tax I.D. number, web address, photo of storefront, and business phone number.
• WD, which requires the company to meet a $25,500 annual purchase; supply a tax I.D. number and web address; and list LPE components on the company website.
• Master WD, which is focused at large parts distributors, requires a $100,000 annual purchase; an LPE products stocking order; and LPE products to be included in the company inventory, website and catalog.

Champion Lands GSA OK For Engine Oils, Brake Fluids, More

admin — Sat, 04 Feb 2012 02:49:04 +0000

Clinton, MO-based Champion Brands has been awarded a General Services Administration (GSA) schedule 51-V contract to provide products and services to the U.S. government. Under the five year contract, Champion will be listed as a preferred government-approved vendor and can provide numerous types of gasoline and diesel motor oils, brake fluids, greases, aerosols, and engine additives to all of levels of governments and military.

In related news, Champion Blue Flame performance diesel oil is now available at five A&A Auto Parts Stores across northeast Pennsylvania, as well as the A&A wholesale/dealer call center. And, Premier Performance Products, a large U.S. diesel performance warehouse, will expand its wholesale distribution of Champion Blue Flame performance diesel motor oils this year.

Southern Car Parts Now An MGP Master Wholesaler

admin — Sat, 04 Feb 2012 02:48:26 +0000

Southern Car Parts (Marietta, GA) and San Diego-based Marshall Genuine Products (MGP) have announced a master wholesale distribution agreement allowing Southern Car Parts to become a distributor of MGP caliper cover products for a variety of vehicles, including the Chevrolet Corvette, Chevrolet Camaro, Dodge Challenger and Ford Mustang.

DDB San Francisco Named Agency Of Record For STP

admin — Sat, 04 Feb 2012 02:48:02 +0000

The San Francisco office of DDB Worldwide is now the marketing agency of record for STP fuel and oil additives. The agency has been tasked with creating, developing, executing and managing the STP integrated marketing communications plan, which includes TV, radio, digital, store associate programs and race track efforts. STP is part of the Armored AutoGroup (AAG), which includes Armor All, a brand that enlisted DDB San Francisco as its agency partner in 2011. New marketing for STP is expected to launch in the first half of 2012.

Engine Specialist Mast Launches Powertrain Unit

admin — Sat, 04 Feb 2012 02:47:16 +0000

Mast Motorsports (Nacogdoches, TX), best known for its high-performance engines and components for the automotive aftermarket, is branching out into powertrains. The company has launched a new division to design and manufacture powertrain products for multiple markets, including automotive, marine, motorcycle and industrial. This move coincides with the groundbreaking for a new 10,000-square-foot facility to increase Mast’s capacity for research, development and engine builds.

Registration Is Now Open For AASA Vision Conference (VisCon)

admin — Sat, 04 Feb 2012 02:46:53 +0000

Registration is now open for the 2012 AASA Vision Conference (VisCon), which will be held March 29 at the Hyatt Regency O’Hare in Rosemont, IL. This year’s theme, “Turning Insights Into Action,” will build on the association’s landmark report, “Aftermarket Outlook 2020,” which was produced by Booz & Co. and released at the 2011 conference. Evan Hirsh, vice president of Booz & Co., is returning this year for follow-up to this publication, including a panel discussion featuring CEOs of AASA member companies.

Erik Hurst, professor of economics at the University of Chicago Booth School of Business, is among the speakers slated for the event. Other confirmed presenters for AASA 2012 VisCon are:

• A “Welcome Address” with AASA Chairman Jeff Brekke, president – global automotive aftermarket at Gates Corp.
• A “Know Your Parts Update” by Jack Vollbrecht, senior vice president of business development at Remy Power Products and a member of the AASA Marketing Executives Council
• A “Repair Professionals Panel Discussion” moderated by Sue LaRue, chief strategist for The Insight Scout, and featuring repair professionals and shop owners
• An “Industry Overview” from Steve Handschuh, president and chief operating officer of AASA
• “Global Market Insights” with Mike Hanley, global automotive leader at Ernst & Young.

Also on top are an OptiCat progress and value statement; a government affairs report detailing important aftermarket issues in Congress and the states; and a discussion on the effective use of data, including economic, POS, inventory and VIO.

VisCon 2012, exclusive to AASA member companies, will kick-off with a welcome reception on the evening of March 28, following meetings of the AASA board of governors and AASA councils. The program will begin the next morning with a networking breakfast followed by keynote addresses, customer presentations, and discussions of trends and challenges affecting automotive aftermarket suppliers. For more information, visit www.aasavision.org.