Sentinel Capital Partners, a private equity firm that recently acquired Driven Performance Brands, has sold Vintage Holdings Inc., doing business as Vintage Parts, to GenNx360 Capital Partners, a New York-based private equity firm. Terms of the deal were not disclosed.
Vintage Parts is a provider of supply chain, logistics and distribution management services for slow-moving and inactive parts from original equipment manufacturers.
Vintage Parts has exclusive long-term service agreements with 66 OEMs a variety of markets, including automotive. The company has relationships with companies such as CNH, Caterpillar, Chrysler, Ford, GM, John Deere, Harley Davidson, Honda, Komatsu and Mercedes-Benz.
“Vintage Parts is an industry pioneer that has performed superbly during our eight-year ownership,” said Jim Coady, a partner at Sentinel. “Since we acquired the business, Vintage Parts has added 30 new OEM partners and entered several new end markets. If we could, we would own Vintage Parts forever. It is a great business with an outstanding management team, and the investment has been very rewarding for us.”
“Our long partnership with Sentinel has been very productive,” said Vintage Parts CEO Darrell Armbruster. “We worked alongside Sentinel to continue to refine our business model and, as a result, we have seen significant growth in our revenue and OEM partner base over the past several years. Looking forward, we see many more opportunities to grow.”