NEW YORK (Aug. 9, 2013) — Truck parts distributor TruckPro L.L.C. has acquired fellow parts distributor CCI Corp. from Illinois Tool Works Inc.
Terms of the transaction were not disclosed by the compoanies.
The acquisition substantially increases the scale and scope of TruckPro's operations, according to the company, which is owned by New York-based private equity firm Harvest Partners L.P. Memphis-based TruckPro distributes maintenance and repair products for heavy-duty vehicles in numerous end markets, including small, regional and national trucking companies, private fleets, waste services companies, construction companies, municipalities and independent repair shops.
Tulsa, Okla.-based CCI has a network of commercial vehicle parts and service locations, with 100 retail stores, service shops and distribution center locations in the U.S. and Canada, according to TruckPro. CCI's product offering includes drivetrain, power take-off, suspension, brakes, hydraulics and related products, as well as repair and rebuilding services.
The newly combined company has 165 locations, with a significant Canadian presence and a strengthened product and service offering in the gearing and drivetrain categories, the company said.
"The addition of CCI to TruckPro's existing business positions TruckPro as a leading provider of heavy duty truck and trailer products and advanced repair services in North America," said Steve Riordan, TruckPro's chairman and CEO. "CCI has a rich history in the gear and drivetrain segments, which are an excellent complement to the broad, heavy duty product offerings of TruckPro."
"The strategic combination of TruckPro and CCI greatly advances our vision to establish a leading North American distribution company," said Christopher Whalen, managing director at Harvest.
"Our integration plan will leverage the relative strengths of both companies—and particularly the combined organization of over 1,800 sales, service and support associates—to create a compelling value proposition for suppliers and customers."