Federal-Mogul buys minority stake in AutoMD

CARSON, Calif. (Oct. 13, 2014) — U.S. Auto Parts Networks Inc. has sold a minority stake in its AutoMD Inc. online automotive repair resource to Federal-Mogul Motorparts — a division of Federal-Mogul Holdings Corp. — Cox Automotive Inc. and existing U.S. Auto Parts investors.

The parties did not disclose financial terms or what percentage was sold.

U.S. Auto Parts will remain a majority owner of AutoMD, a free online resource where vehicle owners can obtain comparative quotes and information on repair jobs from local repair shops.

“This investment and the significant industry expertise of Federal-Mogul Motorparts and Cox Automotive will help further establish AutoMD as the preferred source of vehicle repair information for millions of consumers,” said Shane Evangelist, U.S. Auto Parts CEO.

Southfield, Mich.-based Federal-Mogul Motorparts is a supplier of light and commercial vehicle components including Champion spark plugs and filters; ANCO wipers; MOOG steering and suspension parts; and Wagner brake products.

Atlanta-based Cox Automotive, a business unit of Cox Enterprises Inc., publishes more than 20 wholesale and retail automotive-related media, including AutoTrader.com and Kelley Blue Book.