Archive for the ‘Aftermarket Performance Parts community’ Category
American Capital Strategies Ltd. Provides Investment in Dynojet’s One Stop Buyout(TM)
Wednesday, November 28th, 2007An investment was made by American Capital Strategies Ltd. to the One Stop Buyout(TM) of Dynojet Research Inc. which takes in the form of a senior subordinated debt and favored convertible, common equity as well as senior term loan. In addition, American Capital also provides a revolving credit facility. Dynojet is a developer of Aftermarket Performance Parts, products and diagnostic tools for automotive and motorcycle industries. Previous to the investment of American Capital, it was a portfolio company of Graham Partners.
As said by Darin Winn, the Regional Managing Director of American Capital, “For the past 35 years, Dynojet has been a pioneer in product development in the motorcycle and automotive industries and we are excited to add this innovative company to our portfolio. Our one-stop financing capabilities and intensive and focused internal due diligence resources allowed us to quickly complete this investment.”
The investment of American Capital will reach to an estimated $11 billion in the last 12 months, by way of its funds under its administration and direct investment. The year-to-date investment is approximately $9.9 billion with an approximate $11 billion for quarter to date. The company has invested about $8.1 billion in the last 12 months excluding the funds under management which reached to approximately $7.3 billion year to date and around $1.3 billion quarter to date.
“Dynojet is the clear leader in its industry, commanding number one market share in practically every category in which it competes. The team at Dynojet has built the most recognized brand name in the market for fuel management products and dynamometers, which are devices that measure engine performance. Furthermore, under the leadership of President and CEO Robert Vlcek, the Company has expanded its target markets, augmented its product portfolio and achieved robust financial performance,” said Frank Do, American Capital’s Managing Director.
According to Brian Martin, the Vice President of American Capital, “Dynojet competes in an attractive industry with strong growth trends in the motorcycle parts and accessories market driven by favorable demographics, an increasing installed base of motorcycles and the conversion from carburetion to electronic fuel-injection fuel management. Dynojet’s strong market position and ability to quickly develop new products bode well for the Company and will enable it to meet anticipated market demands.”
Robert Vlcek, Dynojet’s President and CEO, also commented on the matter, saying “We are pleased with American Capital’s investment in Dynojet. American Capital’s ability to fund the entire transaction and the dedicated team in the Los Angeles office makes working with American Capital quick and effective. I look forward to Dynojet’s continued innovation and excellence with help from American Capital.”
News via money.cnn.com.
EDO Performance Absorbs with Zero/Sports Racing Products
Friday, November 16th, 2007EDO Performance, successful distributor of automotive replacement tools and Aftermarket Performance Parts, is proud to announce that it has teamed up with Zero/Sports Racing Development. As it goes, EDO will now become the exclusive distributor and authorized installer of Zero/Sports products for North America.
For those unfamiliar with the brand, Zero/Sports is an engineering company that actually specializes on Subaru vehicles. Said company is the premier name in Aftermarket Performance Parts of Subaru vehicles in Japan. In fact, Zero/Sports was even given official Subaru part numbers due to the company’s outstanding products.
To date, EDO Performance will now be offering Zero/Sports products that include: cooling products, turbo kits, brake pads, stainless steel brake lines, exhaust systems, strut tower bars, performance suspension, and aero kits, just to name a few. For a more detailed list and other information, please visit the sites of both organizations:
www.edoperformance.com
www.zerosports.co.jp
SORL Auto Parts Joining the Goldman Sachs China Frontier Conference
Wednesday, November 7th, 2007SORL Auto Parts Inc., top producer and distributor of automotive air brake valves and other components, has just announced that it has been invited to grace the Goldman Sachs & Gao Hua Securities’ China Frontier Conference. Relatively, the location of said conference is said to be at the Grand Hyatt Hotel in Beijing on November 12-13, 2007.
The two-day conference will be centering on the leading Chinese corporations that represent key sectors such as property, power, retail/consumer, financial, technology, commodities, telecom, manufacturing, auto, media and conglomerates.
For more details and information regarding SORL Auto Parts, below is a brief company profile, as taken from its press release statement:
About SORL Auto Parts, Inc.
As China’s leading manufacturer and distributor of Aftermarket Performance Parts such as automotive air brake valves, SORL Auto Parts, Inc. ranks first in market share in the segment for commercial vehicles weighing more than three tons, such as trucks and buses. The Company distributes products both within China and internationally under the SORL trademark. SORL ranks among the top 100 auto component suppliers in China, with a product range that includes 40 types of air brake valves and over 800 different specifications. The Company has three authorized international sales centers in Australia, United Arab Emirates, and the United States, with additional offices slated to open in other locations in the near future. For more information, please visit http://www.sorl.cn/.
ALLDATA and Chief Automotive Technologies Forges Partnership
Tuesday, November 6th, 2007ALLDATA and Chief Automotive Technologies has duly announced their partnership in the form of the ALLDATA Collision™
Tagged as the Chief V.I.P. or Vehicle Information Portal, this ground-breaking product permits collision shops to obtain a fast and convenient access to the original equipment manufacturer (OEM) data needed to create efficient repairs and estimates on today’s vehicles.
Randy Gard, Chief Automotive Technologies President, highlights the value of such a product: “It’s virtually impossible to correctly repair today’s vehicles without knowing exactly what systems, materials, specifications and procedures are included. Our integration with ALLDATA enables Chief to provide this information not only to shop estimators, production managers and parts order personnel, but also to the measuring system sitting next to the vehicle being repaired.”
“Having this invaluable OEM data both in the front of the shop and at the technician’s ‘point-of-use’ is huge. The result will be a tremendous improvement on shop and technician efficiency as they both will now know exactly how that vehicle needs to be repaired and, with Chief Design-Based Repair Systems, will have the necessary tools to do so.”
Jeff Lagges, ALLDATA President, remarks on the mutual benefits of the two companies’ alliance: “ALLDATA is very excited about our product integration with Chief Automotive Technologies. Along with our association with one of the premier brands and companies in the collision industry, we’ve had the opportunity to work closely with their team and experience first-hand their commitment to excellence. ALLDATA’s mission for over 20 years has been to improve our customers’ ability to perform their jobs and maximize their business opportunities. Chief is committed to the same vision, and together we feel that we have a powerful solution to get this done.”
Indeed, this ALLDATA-Chief integration provides a welcome opportunity for collision shops to efficiently streamline and speed up their estimation and repair procedures. More than this, the said product also enables subscribers to access ALLDATA’s extensive and far-reaching mechanical problem-solving and repair database.
Below are brief profiles of Autozone, Autozone’s ALLDATA, and Chief Automotive Technologies, as provided in the release statement.
About AutoZone
As of August 25, 2007, AutoZone sells replacement parts and Aftermarket Performance Parts for cars and light trucks, as well as selling chemicals and accessories. Business is undertaken through 4,056 AutoZone stores in the United States, Puerto Rico and Mexico. AutoZone also sells the ALLDATA brand automotive diagnostic and repair software. On the web, AutoZone sells diagnostic and repair information and auto and light truck parts through www.autozone.com.
About AutoZone’s ALLDATA
ALLDATA is the leading provider of automotive repair information and solutions to the Professional Automotive Service Industry. Professional automotive repair shops across North America depend on ALLDATA for their automotive repair information needs, and purchase AutoZone parts from more than 2,000 AutoZone Commercial program locations.
The ALLDATA(r) subscription, available online and on DVD, provides comprehensive, factory-correct repair information. Also available are: ServiceCenter(sm) ELITE strategic shop management system; ProCarCareZone(sm) web-based shop marketing tools to bring in new and repeat business; ALLDATA CollisionConnect(sm), the only comprehensive source of OEM collision information, delivering factory-correct, unedited and regularly updated information for structural repairs and more; and the AZ Parts(sm) Catalog and AZ PartsConnect(sm) programs for aftermarket parts estimating and electronic ordering. ALLDATA(r) DIY provides consumers with repair articles, factory technical service bulletins, and illustrations for a specific vehicle, along with a link to ALLDATA-approved repair shops. Visit www.alldata.com for more information.
About Chief Automotive Technologies, Inc.
Chief Automotive Technologies, Inc. is the world’s largest manufacturer of high quality collision repair products and services, including frame pulling equipment, vehicle anchoring systems, computerized measuring systems, vehicle frame specifications and comprehensive training on structural analysis repair and collision theory.
Headquartered in Grand Island, Nebraska, USA, Chief also operates a number of facilities throughout the world, and is a key provider of collision repair equipment in more than 48 countries globally.
GM Performance Parts Sponsors 35th Annual RPM Promoters Workshop
Tuesday, October 30th, 2007GM Performance Parts, supplier of engine systems to the oval racing sport, is proud to announce that it has agreed to be a supporting sponsor for the 35th Annual RPM Promoters Workshop. To date, GM Performance has been supporting said workshop for seven series already.
Bill Martens of the GM Performance Parts is quite happy with the partnership, as it stands not only to support GM’s racing consumers, but also act as a marketing program for prospective target market. Martens attests: “GM Performance Parts is pleased to support weekly racing with its technology and as a supporting sponsor of the Workshops. We recognize weekly tracks’ importance as a local recreational asset and that weekly race tracks offer excellent marketing opportunities for GM dealers and GM Racing.”
Stewart Doty, RPM Promoters Workshop Chairman, shares the same pleasure relative to the long-running partnership: “We are pleased to renew our association with GM Performance Parts for the sixth consecutive year. Every season more and more promoters look at crate engines as a tool for cost containment, and GM offers three of the best engines available. GM is committed to its crate engine program, and to demonstrate that commitment support the Workshops and we are appreciative.”
This 35ths workshop, with a working title of “Growing the Grassroots, Selling your Tickets,” will feature a presentation from Jacob Agajanian. Also, a Question & Answer session will follow immediately thereafter. Relative to the talk, Agajanian would aim to explain the audience how short track promoters can use similar promotional tactics to reach the digital market. For those unfamiliar, Jacob Agajanian presides over Motorsports Management International as Director of New Media. With the said position, he is able to manage the websites of Kasey Kahne and Tony Stewart, as well as developing e-marketing programs using clever tools and strategies such as special webisodes, fan sites, and email blasts.
The 35th Annual RPM Promoters Workshops Series starts on the 29th of November at the Eldorado Hotel Casino in Reno. It is estimated to end in Florida during the 2008 February Speedweek.
For requests or further information for the registration procedures for the RPM Promoters Workshops, contact the RPM via its website at: www.racingpromotionmonthly.net. RPM could also be reached at the editorial offices of Racing Promotion Monthly at PO Box 195, Edgar, WI 54426, 715-536-1067.
Below is a short description of GM Performance as provided in the company press release statement:
GM Performance Parts provides a wide range of replacement parts and Aftermarket Performance Parts. Its lineup includes systems and parts such as the engine, transmission, chassis, and suspension components for high-performance and racing applications. All goods and products are available through its numerous GM brand dealers, as well as through Chevrolet, Buick, Pontiac Cadillac, and GMC trucks. GM Performance Parts is at the development forefront of crate racing engine applications, working hand in hand with promoters, tours and series, and aftermarket upfitters.
Progressive Automotive Systems and ACDelco Releases New Software
Sunday, October 28th, 2007Progressive Automotive Systems has promptly announced its new software called the R.O. Writer™ shop management system version 1.20. With such a new system, the company gets to be more connected with ACDelco, supplier of numerous automotive replacement tools and aftermarket performance parts.
With a single click of this R.O. Writer™, PAS is equipped to link up with ACDelco Warehouse distributors relative to parts availability, costing, and labor time. Once these three factors are established, the combined data is then incorporated on the repair order in the R.O. Writer™ System.
Paul Van Camp, Progressive Automotive Systems (PAS) Director of Sales, has this to say: “While the R.O. Writer™ shop management system has supported Internet parts ordering for several years, the technology used has been generic for all ACDelco independent repair centers. With the new ACDelco ‘WISEConnect™’ interface, ACDelco independent service centers will have availability to check their local ACDelco Warehouse partner’s inventory levels for parts, labor hours and ACDelco Marketing Incentive Dashboards, all from their R.O. Writer™ System.”
James Nagy, PAS Director of Development, further attests: “The new ‘WISEConnect™’ interface adds another strategic component to the R.O. Writer™ Shop Management Application Suite. Now ACDelco users will have complete access to ACDelco parts, labor, vehicle specifications, and more with this intuitively obvious user interface. All this functionality is completely integrated into the natural R.O. Writer™ Estimate and Repair Order workflow. This is truly a breakthrough for ACDelco independent service centers that have chosen to use the best Shop Management System on the market as they will now have direct access to ACDelco information.”
Stephen Sigg, ACDelco E-Business manager, for his part is also pleased about this enhanced partnership and development: “This is truly exciting. Progressive Automotive Systems’ R.O. Writer™ WISEConnect™ interface module now offers a powerful e-Sourcing tool for our independent service centers and distributors from the R.O. Writer™ point of sale solution. While it serves the repair shop’s business needs first (parts & labor), the interface will also benefit ACDelco online parts distributors. Not only will shops use this tool to do more e-Commerce, research proves the internal efficiencies created will let them generally fix more cars and buy more parts. We’re proud to be a part of this initiative.”
Below are concise profiles of both Progressive Automotive Systems and ACDelco, as provided in the release statement:
Progressive Automotive Systems, Inc.
Developer of the R.O. Writer™ shop management system, PAS has been providing software solutions to the automotive aftermarket since 1989. As early as 1977, PAS provided consulting services for franchise automobile dealers. In the decades that followed, PAS has helped thousands of shop owners reach their true potential. Automotive service provider Midas, Inc, acquired Progressive Automotive Systems in 2001.
ACDelco
ACDelco is a global leader in automotive replacement parts and related services and offers quality aftermarket products and Aftermarket Performance Parts for all makes and models, including Ford, Chrysler, General Motors, Toyota and Honda, plus some original equipment replacement parts. As of February 2007, ACDelco offers more than 100,000 parts across 37 product lines. ACDelco has nearly 100 years of experience in the automotive industry and is a brand of GM Service and Parts Operations, a division of General Motors.
U.S. Auto Parts Network Welcomes Two
Wednesday, October 24th, 2007U.S. Auto Parts Network, the leading online provider of Aftermarket Performance Parts and accessories, has announced two appointments for the company’s Board of Directors. New Directors are Josh Berman and Jeffrey Schwartz, with the former being the Co-founder and Chief Operating Officer of MySpace.com, while the latter stands as the former Chief Executive Officer of Autobytel.
Josh Berman is the co-founder and COO of the top online lifestyle portal, MySpace. Under Berman’s business savvy and insightful management, the said online site has achieved tremendous growth since its launch in the year 2004. Indeed, even if the portal has only began its operation in 2004, it is already home to approximately 115 million current active subscribers worldwide, with a modest average of 300,000 new subscribers signing up daily. Besides said venture, Berman also co-founded and previously managed two other thriving internet companies, namely ResponseBase and Xdrive Technologies. He served as the former Chief Operating Officer and Chief Financial Officer of Responsebase, while he was Chief Financial Officer and Senior Vice President for Xdrive. Also part of Berman’s impressive credentials was his stint as management consultant for PricewaterhouseCoopers, as well as the International Marketing Manager and Senior Financial Analyst for Twentieth Century Fox.
When asked for comment on his new endeavor, Berman has this to say: “As a leader in the online auto parts market, I believe U.S. Auto Parts has the technology, people, and resources to continue to drive growth in the industry as well as its market share. I look forward to working with the management team and the Board as we seek to achieve the Company’s strategic initiatives and capitalize on these opportunities.”
On the other hand, the other new appointee, Jeffrey Schwartz, also offers quite a successful and colorful professional background. Currently, Schwartz is serving as the CEO and Chairman of Vertical Passion Media, a successful marketing and media company centered on content and classified listings in the automotive category. Prior to that, he was with Autobytel from 2001 to 2006, evolving in numerous executive positions such as President, CEO, Director, and Vice Chairman. During Schwartz’ exemplary leadership, Autobytel has developed itself as a leading automotive marketing services company, even acquiring a staggering ten-fold increase in market capitalization. Before Autobytel, Schwartz also performed as CEO and Chairman for an automotive dealership group called AutoCentro, as CEO and President of Autoweb, and as Vice President of Corporate Affairs at The Walt Disney Company. Furthermore, among Schwartz’ various notable accomplishments is his prior position of director in the Internet Advertising Bureau, wherein he was duly awarded as the ‘Outstanding Public Company Executive’ by the American Electronics Association.
Schwartz, like Berman, is very pleased to be joining the team of U.S. Auto Parts: “I am excited to be joining the U.S. Auto Parts’ team at this exciting stage of the Company’s development. I believe U.S. Auto Parts is well-positioned to build upon its market leading position within the high-growth aftermarket auto parts and accessories category. I look forward to utilizing my background and experience to continue the achievements the existing management team and Board of Directors have made to date.”
For U.S. Auto Parts, the honor of having Berman and Schwartz is very apparent. Robert Majteles, Chairman of the Board, has this to say: “We are very fortunate to welcome Josh and Jeff to the Board of Directors. We are pleased with the level of talent we are attracting to our Board and believe it is indicative of the Company’s compelling business platform and significant future growth opportunities. Together with the recent addition of Barry Phelps, we believe we have completed the process of building a strong, public company Board of Directors and we look forward to serving our shareholders well.”
Shane Evangelist, newly appointed CEO, has also extended his warm welcome to the two new directors: “We believe Josh and Jeff bring to the Board several years of experience and proven track records with leading online marketing and automotive companies, making them valuable resources to the company. We look forward to having the expertise and guidance of these two senior executives benefiting U.S. Auto Parts as we prepare the Company for its next stage of growth.”
Teneco Acquires 11M worth of New Business
Friday, October 12th, 2007Tenneco is pleased to announce that the company has acquired new aftermarket businesses in the third quarter of this year, which in turn will amount to about $11 million in incremental sales revenue. The biggest of these contracts is said to be a new ride control business. As the story would go, this new partner was previously handled by another competitor, but has decided to shift to Tenneco. The rest of the newly-acquired contracts include four clients regarding the company’s ride and emission control auto products.
Neal Yanos, Tenneco Senior Vice President & General Manager in the division of North American Original Equipment, has this to say on the company’s well planned business growth: “Tenneco’s powerful and well-known brands coupled with our strong distribution capabilities distinguish us in this market. We are pleased to win new business and look forward to serving these customers with Tenneco’s premium Monroe(R) and Walker(R) products and outstanding marketing support.”
Accordingly, the Monroe ride control products are mainly produced and manufactured at Tenneco’s Parts Facility in Paragould, Arkansas, while the Walker exhaust products takes up production at its another facility in Harrisonburg, Virginia.
Tenneco is anticipating a $5 million charge in the third quarter of the year for client changeover costs, as well as expenses incurred in replacing competitors’ products with Tenneco products in the concerned retail outlets.
Stated below is Tenneco’s brief profile and accomplishments, as taken from the company’s press statement:
Tenneco is a $4.7 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of Aftermarket Performance Parts, specifically on the emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe(R), Walker(R), Gillet(TM) and Clevite(R)Elastomer brand names. Among its products are Sensa-Trac(R) and Monroe Reflex(R) shocks and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R) mufflers, Dynomax(R) performance exhaust products, and Clevite(R)Elastomer noise, vibration and harshness control components.
Franchise Capital eyes new Acquisition Candidate
Tuesday, October 9th, 2007It is only recently that Franchise Capital Corporation has closed its acquisition of Aero Exhaust, Inc., a leading producer of Aftermarket Performance Parts specifically on high performance exhaust airflow technology, as well as a renowned NASCAR performance partner. However, it would seem that FCC has set its eyes on another acquisition candidate, which is said to be equipped with considerable synergies in relation to the operations and procedures of Aero Exhaust. The still-to-be-divulged acquisition candidate was hinted as belonging in the automotive supply industry.
With this, the company is planning to send an initial letter of intent to the acquisition candidate, with the hopes of entering into a definitive and viable agreement after all terms and negotiations have been fully discussed and ironed out by both parties.
Ben Hunsaker, Franchise Capital and now Aero Exhaust’s Chief Executive Officer, explained further the company’s growing divisions: “While the growth of Aero Exhaust is expected to be the core focus of management, we will continue to seek out opportunities to build shareholder value through the acquisition of additional synergistic operations in the automotive supply and performance products market segments.”
“We believe that this type of roll-up strategy will have the potential for a dual benefit for the company and its shareholders. First, the additional revenues and assets that can be acquired through this process will potentially improve the company’s valuation in the public markets. Second, but possibly even more significant for the future growth of Aero, is that certain synergistic acquisitions may also contribute to the growth of Aero Exhaust itself. These opportunities may be in the supply of parts for the mufflers and exhaust systems that Aero distributes.”
“We expect to have this acquisition candidate signed to a letter of intent very shortly, and we look forward to providing additional information regarding the potential of this acquisition as soon as the appropriate agreements are in place,” Mr. Hunsaker concluded.
Below is a brief profile on Aero Exhaust. For more detailed information on this, as well as current news regarding Franchise Capital, please visit http://www.franchisecapitalcorp.net.
Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust’s products, race team, and motorsports ventures can be found on its corporate website, www.aeroexhaust.com.
