Auto Service World
News   November 16, 2005   by Auto Service World

Keystone Automotive Continues Expansion Strategy


Keystone Automotive has announced that it has reached a definitive agreement to acquire Reliable Automotive, a specialty distributor and retailer based on Overland, Ks.
Currently, Reliable Automotive distributes over 300 product lines nationally to over 15,000 customers via 10 warehouse facilities and seven sales offices.
“Reliable is well established in many of its markets, and this acquisition will complement Keystone’s organic growth strategy in the southeast, the midwest and on the west coast,” said Bob Vor Broker, Chief Executive Officer of Keystone Automotive Operations. “We believe that by combining these two organizations we can become better partners to our customers by offering them broader product offerings, deeper inventory positions and an expanded number of distribution locations.”
“With Keystone’s great distribution platform and Reliable’s geographic coverage, we are excited about the growth opportunities this offers for our customer base,” stated Bob Price, chief executive officer of Reliable Automotive.
In 2002, Price and two other management executives bought the company for more than $30 million from Fred Falk of Minneapolis, who had owned the company since 1965. He sold it to Price, then company president, COO Gregory Doyle and CFO Daniel Richardson. At the time, the company was said to have revenues of more than $100 million U.S.
The Specialty Equipment Marketing Association (SEMA) on two separate occasions has named the company the No. 1 Specialty Equipment Distributor in the U.S. In addition, the company has been honoured as the industry leader in developing Quality of Life Programs that demonstrate its continuing commitment to provide a safe, healthy and productive workplace for its employees.
Keystone Automotive, which is owned by Bain Capital, a leading global private investment firm, has more than tripled its revenues over the past ten years through a combination of business acquisitions and organic growth.
In 2003, the company expanded its operations to the West Coast with the opening of an 80,000 square foot hub in Corona, California. In 2004, Keystone Automotive began delivery into Northern California, Nevada and Arizona. In May 2005, it purchased Blacksmith Distributing, Inc., a premier automotive aftermarket accessory distributor.
In addition, over the last two years Keystone Automotive has added to its existing service capabilities in Florida, Massachusetts, Ohio, Pennsylvania, Texas and Canada.

1


Print this page

Related


Have your say:

Your email address will not be published.

*