Kinderhook Industries buys Continental Auto Parts

• Rob Wagman, former CEO of LKQ Corporation, now serves as executive chairman of Continental Auto Parts
• Silvergrove Advisors served as financial advisor to Continental Auto Parts on the transaction
• Founded in 2003, Kinderhook Industries targets the middle market

Kinderhook Industries has acquired Newark, New Jersey-based Continental Auto Parts, a distributor of aftermarket collision automotive parts to multi-shop operators and independent collision shops. No financial terms were disclosed.

CAP was founded in 1997 by Thomas Lee.

Rob Wagman, former CEO of LKQ Corporation, now serves as executive chairman of Continental Auto Parts.

On the deal, Paul Cifelli, managing director at Kinderhook, said in a statement, “Continental Auto Parts and Thomas Lee have a demonstrated track record of growth and Kinderhook is excited to work with the entire CAP team to fuel the next era of expansion. The combined experience that Thomas Lee and Rob Wagman bring to the table is unmatched and we are eager to accelerate CAP’s growth trajectory.”

Kirkland & Ellis LLP served as legal counsel to Kinderhook for the transaction. Silvergrove Advisors served as financial advisor to Continental Auto Parts for the transaction. Financing for the transaction was provided by Truist Bank.

Founded in 2003, Kinderhook Industries targets the middle market. Kinderhook manages over $5.4 billion of committed capital.