Lower middle-market private equity firm Sentinel Capital Partners has sold Beaver Dam, Wisconsin-based Vintage Parts, a provider of supply chain, logistics and distribution management services for slow-moving parts from original equipment manufacturers. The buyer was GenNx360. No financial terms were disclosed.
NEW YORK, September [x], 2015 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced its sale of Vintage Holdings, Inc. (d/b/a Vintage Parts), a leader in supply chain, logistics, and distribution management services for slow-moving and inactive parts from original equipment manufacturers (“OEMs”). Terms of the deal were not disclosed.
Vintage Parts buys and warehouses for future sale inventories of original slow-moving and inactive parts that OEMs no longer find economical to maintain themselves. Vintage Parts has exclusive long-term service agreements with 66 leading OEMs in the automotive, agriculture, heavy-truck, construction, industrial engine, material handling, mining, and oil and gas industries. Vintage Parts has relationships with some of the most recognized industrial brands in the world, including CNH, Caterpillar, Chrysler, Ford, GM, John Deere, Harley Davidson, Honda, Komatsu, and Mercedes-Benz. Vintage Parts employs an innovative approach that provides compelling economic benefits to its OEM partners and exceptional service levels to its authorized OEM dealers and distributors.
“Vintage Parts is an industry pioneer that has performed superbly during our eight-year ownership,” said Jim Coady, a partner at Sentinel. “Since we acquired the business, Vintage Parts has added 30 new OEM partners and entered several new end markets. If we could, we would own Vintage Parts forever. It is a great business with an outstanding management team, and the investment has been very rewarding for us.”
“Our long partnership with Sentinel has been very productive,” said Vintage Parts CEO Darrell Armbruster. “We worked alongside Sentinel to continue to refine our business model and, as a result, we have seen significant growth in our revenue and OEM partner base over the last several years. Looking forward, we see many more opportunities to grow.”
The Vintage Parts sale coincides with a highly productive period for Sentinel. Since May 2015, Sentinel acquired Corporate Visions, a provider of marketing and sales enablement solutions; Fazoli’s Group, a franchisor and operator of Fazoli’s fast casual restaurants; and Driven Performance Brands, a manufacturer of high performance automotive aftermarket performance products. And earlier this month, Sentinel sold IEP Technologies, a global leader in industrial explosion protection.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About Vintage Parts
Headquartered in Beaver Dam, Wisconsin, Vintage Parts provides supply chain, logistics, and distribution management services for slow-moving OEM parts for a wide variety of industries, including automotive, agriculture, heavy-truck, construction, material-handling, mining, and oil and gas. Vintage Parts purchases slow-moving inventory from its network of 66 OEM partners and warehouses product for future sale to more than 30,000 authorized OEM dealers. Vintage Parts takes title to the parts upon shipment from its OEM partners and assumes full control of the management, logistics, and distribution of this inventory from its 16 facilities located in Beaver Dam and Columbus, Wisconsin. For more information about Vintage Parts, visit www.vpartsinc.com.