Parts Authority has agreed to purchase Interamerican Motor Corp. (IMC) from AutoZone Inc. IMC operates 26 locations across 9 states and is the second largest distributor of OE quality import replacement parts in the U.S., according to the company. For over 50 years, IMC has offered a robust parts catalog sourced from hundreds of foreign focused suppliers, including original equipment brands.
Parts Authority is one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry throughout the U.S.
The transaction is expected to close in the coming weeks. A purchase price was not revealed by press time.
“This acquisition is an expansion of our product offerings, customer touch points and geographies. The company’s leadership in European replacement parts is a logical fit with Parts Authority’s current catalog,” said Randy Buller, president & CEO of Parts Authority. “We believe the expanded inventory depth of the combined organization will significantly benefit both IMC’s existing customer base as well as Parts Authority’s customers. In addition, the IMC footprint expands Parts Authority into key new geographies of Florida, Texas, Northern California and the Pacific Northwest.
“As with any acquisition, we are most excited about bringing on great people. IMC’s management team and team members will add tremendous value to our organization and we are excited to welcome them into the Parts Authority family.”
“Parts Authority’s culture of customer service, operational excellence and integrity combined with IMC’s leadership in selling to the import segment creates an exciting growth platform,” said Kelly Mundt vice president of corporate strategy of IMC. “This is a fantastic home for our team members.”
Jefferies LLC acted as sole financial advisor to AutoZone in the proposed sale of Interamerican Motor Corp.