OEConnection Holdings, the holding company whose portfolio includes OE replacement parts provider OEC, said it has signed a definitive agreement to purchase Clifford Thames Group.
Headquartered in Chelmsford, England, Clifford Thames creates and manages the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies and their partners.
Clifford Thames works with many of the leading auto manufacturers around the world.
Describing OEC as “the auto industry’s leading provider of e-commerce technology for original equipment parts,” the holding company said Clifford Thames will complement its existing portfolio.
“[Clifford Thames] provides a significant platform to drive global growth for our overall business,” said Chuck Rotuno, chairman and CEO of OEConnection Holdings. “We look forward to adding their capabilities and products to our portfolio, alongside OEC, to support the global needs of our OEM and dealer network partners.”
Pending regulatory approval, the deal will close by the end of the second quarter, Richfield, Ohio-based OEConnection Holdings said.
“This is a win not only for OEConnection Holdings but also for CT,” added Calvin Barnett, CEO of Clifford Thames Group. “This is one case where the whole is greater than the sum of the parts.”
