Kinderhook Companions with Automobile-Wares and Acquires Lafayette Warehouse

Kinderhook Companions with Automobile-Wares and Acquires Lafayette Warehouse

NEW YORK, March 8, 2023 /PRNewswire/ — Kinderhook Industries, LLC (“Kinderhook“) announced nowadays the recapitalization of AWI Holdings, LLC (“Vehicle-Wares” or “AWI”) in partnership with management. Automobile-Wares is a main distributor of aftermarket automotive sections to unbiased provider facilities, unbiased components stores, and immediate to customer by its community of 200+ organization-owned retailers. Economic conditions of the transaction had been not disclosed. Subsequent to the recapitalization, Automobile-Wares obtained Lafayette Warehouse, Inc. (“Lafayette“). Lafayette is a warehouse distributor of OEM and aftermarket automotive sections in North Central Indiana. Lafayette is the 83rd acquisition done by Vehicle-Wares due to the fact its founding and Kinderhook’s 202nd automotive / light-weight manufacturing-relevant transaction. Money terms of the transaction were being not disclosed.

Vehicle-Wares is a Grand Rapids, Michigan based mostly warehouse distributor of aftermarket automotive sections to installers, sections outlets, and shoppers by its corporation-owned suppliers. Established in 1976 by Fred Bunting, Vehicle-Wares has developed into one particular of the greatest automotive pieces distributors in the United States. AWI leverages its considerable stock and deep merchandise understanding to serve its customers. In addition to its Grand Rapids headquarters and distribution centre, Automobile-Wares serves its customers via a dense regional community of strategically located distribution centers and organization-owned shops throughout the Midwest.

Todd Leimenstoll, CEO of Vehicle-Wares, reported, “Kinderhook is the fantastic associate to enable Vehicle-Wares speed up growth throughout this exciting new chapter. Auto-Wares is self-confident that Kinderhook’s skills, sources, and vision for potential development will allow our company to develop our functions and build upon our popularity as a foremost warehouse distributor. Our commitment to consumer gratification stays at the forefront of our organization technique, and we glimpse forward to continuing to increase alongside our faithful purchaser foundation.”

Paul Cifelli, Controlling Director at Kinderhook, said, “we are thrilled to husband or wife with the exceptionally proficient and experienced administration workforce of Auto-Wares. We share a typical vision for the long run of Vehicle-Wares and consider that this partnership will unlock large likely. With our collective assets and business expertise, we are assured that Car-Wares will continue its very long record of development along with operational excellence.”

“I knew from the start off of this method that finding the correct associate was essential to our long-term achievements, and I am self-assured that we have located the right spouse in Kinderhook. The firm’s deep business know-how and monitor record of results in the automotive sector was a significant aspect in Auto-Wares’ choice to spouse with Kinderhook. Equally essential was Kinderhook’s cultural fit with our have business. We share a prevalent eyesight for growth, shopper services, and operational excellence. I am thrilled about what we can realize jointly, and I search ahead to a dazzling upcoming for our company,” stated Fred Bunting, Founder of Vehicle-Wares.

In combining Lafayette with Auto-Wares, Pat James, President at Lafayette, commented, “1st and foremost, we want to thank our personnel and buyers for the success we have experienced over the past 96 yrs. We could not have completed it with out all of their help. Vehicle-Wares introduced an chance for our legacy to keep on by providing great alternatives for our latest workforce and buyers. We also would like to thank Vehicle-Wares for welcoming us into their family members of providers.”

Todd Leimenstoll, CEO of Vehicle-Wares, stated, “all of us at Automobile-Wares are energized to have the Lafayette Warehouse workforce be a part of the Automobile-Wares Group of Companies. Lafayette Warehouse has a very prosperous background and remarkable standing. I am grateful for the belief that Pat James and the James spouse and children have placed in us. We seem forward to the future chapter in escalating the corporation.”

Kirkland & Ellis LLP served as lawful counsel and Stifel served as acquire-facet financial advisor to Kinderhook for the transaction with Car-Wares. Honigman LLP served as authorized counsel to Auto-Wares for the transaction with Lafayette. Financing for both transactions was delivered by a Truist-led personal debt syndicate that involved Union Lender, Fifth Third, KeyBank, Stifel, and Areas.

About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private financial investment firm that manages $5.4 billion of committed cash. We have designed in surplus of 400 investments and abide by-on acquisitions considering that inception. Kinderhook’s investment decision philosophy is predicated on matching one of a kind, advancement-oriented investment decision options with outstanding economical abilities and our proprietary network of functioning companions. Our concentration is on middle sector corporations with defensible area of interest industry positioning in the health care companies, environmental / business expert services, and automotive / gentle production sectors. We have a observe record of efficiently and consistently setting up sector leaders.

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About Vehicle-Wares

Car-Wares Team of Corporations is an aftermarket automotive distribution enterprise headquartered in Grand Rapids, Michigan, serving the Illinois, Indiana, Ohio, Michigan, and Wisconsin marketplaces. Car-Wares Team of Organizations is a member of the Aftermarket Automobile Areas Alliance. The Alliance and Auto-Wares pleasure themselves on responding to the unique automotive demands of just about every purchaser.

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About Lafayette

Lafayette Auto Offer, started by the late Paul James, initially opened its doors in 1928. He commenced by advertising tire maintenance supplies out of a Ford Product T. As the corporation grew, it opened its present-day area at 118 S. 4th Road in 1944. In 1960, Lafayette Vehicle Provide made the decision to develop its portfolio into modest engine parts and opened Lafayette Warehouse, Inc. Then in 1973, Lafayette Warehouse, Inc. (LWI) moved into its current site at 115 S. 3rd Road. LWI ongoing to improve its Automotive Division by developing Kokomo Auto Supply in Kokomo, IN (1999), NWI Auto Offer in Merrillville, IN (2003) and Lafayette Automobile Source Distribution Center (2015). In December 2021, LWI shifted their small business concentration to emphasis on the at any time-growing OEM and aftermarket auto elements division ending their compact motor enterprise right after 60 several years of uninterrupted company to their shoppers. 

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Source Kinderhook Industries

Kinderhook Companions with Automobile-Wares and Acquires Lafayette Warehouse