Secondary Buyout • Distribution

Kohlberg & Company Acquires Parts Authority

On October 1, 2020, private equity firm Kohlberg & Company acquired distribution company Parts Authority from TJC

Acquisition Context
  • This is Kohlberg & Company’s 1st transaction in the Distribution sector.
  • This is Kohlberg & Company’s 68th transaction in the United States.
  • This is Kohlberg & Company’s 3rd transaction in New York.

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M&A Deal Summary

Date October 1, 2020
Target Parts Authority
Sector Distribution
Buyer(s) Kohlberg & Company
Sellers(s) TJC
Deal Type Secondary Buyout
Advisor(s) Harris Williams
Cowen (Financial)
Kirkland & Ellis (Legal)

Target Company

Parts Authority

New Hyde Park, New York, United States
Parts Authority is an automotive aftermarket replacement parts distribution platform serving the do-it-for-me and do-it yourself e-commerce channels of the automotive aftermarket. Parts Authority was founded in 1972 and is headquartered in New Hyde Park, New York.
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Buyer Overview 1

Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


Deal Context for Buyer #
Overall 69 of 82
Sector: Distribution 1 of 1
Type: Secondary Buyout 24 of 35
State: New York 3 of 3
Country: United States 68 of 81
Year: 2020 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-24 PCI Pharma Services

Philadelphia, Pennsylvania, United States

PCI Pharma Services is a provider of outsourced pharmaceutical supply chain solutions supporting biotechnology and pharmaceutical companies throughout the various stages of drug development and commercialization. PCI Pharma Services was founded in 2012 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 AWP Safety

North Canton, Ohio, United States

AWP Safety is a provider of professional traffic control design and execution services in support of utility infrastructure maintenance and construction activity. AWP Safety was founded in 1981 and is based in North Canton, Ohio.

Buy -

Seller Profile 1

SELLER

TJC

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


Deal Context for Seller #
Overall 50 of 61
Sector: Distribution 2 of 2
Type: Secondary Buyout 22 of 30
State: New York 3 of 3
Country: United States 48 of 59
Year: 2020 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-20 TransImpact

Emerald Isle, North Carolina, United States

TransImpact is a supply chain technology and services company provides end-to-end technology-based solutions that optimize supply chain operations, create dramatic efficiencies, and transform the business performance of customers. TransImpact is based in Emerald Isle, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 Potters

Malvern, Pennsylvania, United States

Potters is a global manufacturer of engineered glass materials to government agencies, highway and road maintenance contractors, as well as automotive, construction, mining, personal care, medical, and other industrial end markets. It produces highway safety marking glass beads, which add reflectivity to road markings to make them more visible to drivers and comply with government-mandated safety regulations. Potters was founded in 1914 and is based in Malvern, Pennsylvania.

Buy $650M