Driven Distribution Acquires Chicago Parts & Sound
The warehouse distributor has been in business since 1978...
Driven Distribution LLC, a warehouse distributor of automotive aftermarket hard parts, consumables and accessories backed by HCI Equity Partners (HCI), has acquired the auto parts and accessories distribution business of Chicago Parts & Sound (CPS). Financial terms of the transaction were not disclosed.
It is the second transaction in the Driven Distribution platform, following the recapitalization of Tri-State Enterprises Inc. in November 2023.
Based in Elk Grove Village, Illinois, with additional locations in Illinois and Wisconsin, CPS is a warehouse distributor focused on automotive aftermarket parts, batteries, consumables and accessories. The brand serves auto dealerships, independent repair shops, municipalities/governments and company fleets.
CPS was founded in 1978 and acquired by Bob and Jackie Lederer in 2002. Since then, CPS has had a tremendous track record of success built by providing excellent, value-added products and services to its clients in addition to completing several acquisitions, according to the company.
The Lederers are reinvesting in the Driven Distribution platform as part of the transaction and will separately continue to own and operate Police Department Systems (police and emergency vehicle upfitting services) and Coachcraft & Precision Services (specialty auto restoration services).
“The history of Tri-State Enterprises is in many ways parallel to that of CPS – just in a different part of the country. Opportunities to combine businesses of such similar backgrounds, ideologies, culture and customer focus make tremendous sense for all stakeholders in each company,” said Bob Lederer, co-owner of CPS.
“We are extremely impressed with the stellar business and established market reputation Bob and Jackie Lederer have built over the past 22 years. The combination of CPS and Tri-State as part of the Driven Distribution platform will enable us to expand our resources and capabilities to better serve our employees and customers,” added Tristan Taylor, CEO of Tri-State.
