Kinderhook Associates with Automobile-Wares and Acquires Lafayette Warehouse

NEW YORK, March 8, 2023 /PRNewswire/ — Kinderhook Industries, LLC (“Kinderhook“) introduced currently the recapitalization of AWI Holdings, LLC (“Car-Wares” or “AWI”) in partnership with administration. Auto-Wares is a foremost distributor of aftermarket automotive elements to independent provider centers, unbiased pieces merchants, and immediate to consumer by means of its community of 200+ company-owned shops. Money conditions of the transaction had been not disclosed. Subsequent to the recapitalization, Vehicle-Wares obtained Lafayette Warehouse, Inc. (“Lafayette“). Lafayette is a warehouse distributor of OEM and aftermarket automotive areas in North Central Indiana. Lafayette is the 83rd acquisition completed by Automobile-Wares due to the fact its founding and Kinderhook’s 202nd automotive / mild production-linked transaction. Money terms of the transaction had been not disclosed.

Vehicle-Wares is a Grand Rapids, Michigan primarily based warehouse distributor of aftermarket automotive sections to installers, areas stores, and customers by means of its corporation-owned suppliers. Launched in 1976 by Fred Bunting, Auto-Wares has developed into a person of the largest automotive parts distributors in the United States. AWI leverages its in depth inventory and deep item understanding to provide its consumers. In addition to its Grand Rapids headquarters and distribution centre, Auto-Wares serves its clients by a dense regional network of strategically found distribution facilities and firm-owned stores all through the Midwest.

Todd Leimenstoll, CEO of Car-Wares, reported, “Kinderhook is the perfect lover to enable Vehicle-Wares accelerate expansion during this thrilling new chapter. Car-Wares is confident that Kinderhook’s skills, methods, and eyesight for foreseeable future expansion will allow our company to increase our operations and make on our reputation as a main warehouse distributor. Our determination to purchaser satisfaction continues to be at the forefront of our organization tactic, and we glimpse ahead to continuing to mature alongside our loyal buyer foundation.”

Paul Cifelli, Managing Director at Kinderhook, mentioned, “we are thrilled to partner with the exceptionally proficient and expert administration staff of Automobile-Wares. We share a prevalent eyesight for the long run of Vehicle-Wares and consider that this partnership will unlock large likely. With our collective means and industry knowledge, we are assured that Car-Wares will keep on its extensive historical past of progress alongside operational excellence.”

“I understood from the start of this procedure that finding the right husband or wife was critical to our prolonged-term achievement, and I am confident that we have observed the suitable spouse in Kinderhook. The firm’s deep business experience and monitor history of good results in the automotive sector was a main element in Auto-Wares’ conclusion to lover with Kinderhook. Equally crucial was Kinderhook’s cultural in shape with our own corporation. We share a typical eyesight for expansion, client service, and operational excellence. I am psyched about what we can obtain together, and I appear forward to a bright foreseeable future for our business,” stated Fred Bunting, Founder of Car-Wares.

In combining Lafayette with Automobile-Wares, Pat James, President at Lafayette, commented, “1st and foremost, we want to thank our staff and consumers for the achievement we have had in excess of the past 96 yrs. We could not have carried out it with no all of their assist. Vehicle-Wares offered an option for our legacy to keep on by giving good chances for our existing staff members and prospects. We also would like to thank Vehicle-Wares for welcoming us into their relatives of organizations.”

Todd Leimenstoll, CEO of Automobile-Wares, stated, “all of us at Automobile-Wares are psyched to have the Lafayette Warehouse workforce sign up for the Vehicle-Wares Team of Businesses. Lafayette Warehouse has a quite prosperous history and large popularity. I am thankful for the belief that Pat James and the James family members have positioned in us. We seem ahead to the next chapter in expanding the corporation.”

Kirkland & Ellis LLP served as lawful counsel and Stifel served as obtain-aspect fiscal advisor to Kinderhook for the transaction with Automobile-Wares. Honigman LLP served as lawful counsel to Auto-Wares for the transaction with Lafayette. Financing for each transactions was offered by a Truist-led credit card debt syndicate that included Union Bank, Fifth Third, KeyBank, Stifel, and Regions.

About Kinderhook Industries

Established in 2003, Kinderhook Industries, LLC is a non-public investment decision organization that manages $5.4 billion of committed funds. We have produced in excess of 400 investments and stick to-on acquisitions because inception. Kinderhook’s expense philosophy is predicated on matching unique, expansion-oriented expenditure possibilities with outstanding financial skills and our proprietary community of operating partners. Our concentration is on center market firms with defensible market current market positioning in the health care companies, environmental / enterprise products and services, and automotive / light-weight producing sectors. We have a monitor document of effectively and constantly building business leaders.

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About Vehicle-Wares

Auto-Wares Group of Companies is an aftermarket automotive distribution firm headquartered in Grand Rapids, Michigan, serving the Illinois, Indiana, Ohio, Michigan, and Wisconsin markets. Auto-Wares Team of Businesses is a member of the Aftermarket Vehicle Parts Alliance. The Alliance and Auto-Wares pride themselves on responding to the individual automotive requirements of each and every consumer.

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About Lafayette

Lafayette Vehicle Supply, established by the late Paul James, first opened its doorways in 1928. He commenced by offering tire repair materials out of a Ford Design T. As the company grew, it opened its present area at 118 S. 4th Street in 1944. In 1960, Lafayette Car Offer made a decision to extend its portfolio into modest motor parts and opened Lafayette Warehouse, Inc. Then in 1973, Lafayette Warehouse, Inc. (LWI) moved into its present-day area at 115 S. 3rd Avenue. LWI continued to expand its Automotive Division by developing Kokomo Car Supply in Kokomo, IN (1999), NWI Automobile Offer in Merrillville, IN (2003) and Lafayette Automobile Supply Distribution Middle (2015). In December 2021, LWI shifted their business enterprise concentration to focus on the ever-escalating OEM and aftermarket auto elements division ending their little motor small business just after 60 many years of uninterrupted service to their customers. 

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