Palladium Equity Partners, along with its joint venture affiliate Palladium Heritage, has partnered with management to create a platform named Collision Auto Parts LLC, through the simultaneous acquisition and subsequent combination of three automotive aftermarket collision repair part companies — National Auto Parts, USA. Inc., NAP San Diego, LLC, and National Auto Parts-Oakland, LLC (collectively “Collision Auto Parts”). Palladium said the goal of Collision Auto Parts is to grow the three companies and, over time, expand the company’s base through further acquisitions and opening additional locations. Financial terms were not disclosed.
As a result of the combination, Collision Auto Parts becomes a distributor of aftermarket automotive collision repair parts serving markets in the Western U.S. with six distribution facilities. The newly formed company will build on a base of over 3,000 customers comprised of regional body shops, multiple-shop operators and walk-ins. Additionally, Palladium said the new company has strong partnerships with insurance companies and is integrated with the major estimation platforms through which insurance companies and body shops source parts.
“We are delighted to partner with Palladium Heritage,” said Ray Tsai, CEO of Collision Auto Parts. “With Palladium’s resources and expertise, we intend to embark on a focused growth strategy, through adding new locations and completing acquisitions to continue to provide our customers with superior availability and customer service.”
Added Palladium Heritage Managing Director Lamar Horne, “We are thrilled to support management with additional resources and together capitalize on the positive industry tailwinds.”