January 26, 2024

Newark, NJ – Continental Auto Parts (“CAP”), a portfolio company of Kinderhook Industries (“Kinderhook”), announced the acquisition of K W Automotive Inc. dba Pro Parts Center (“Pro Parts Center” or “PPC”). Pro Parts Center is a leading distributor of aftermarket collision automotive parts to multi-shop operators (“MSOs”) and independent collision shops in Texas, Louisiana, and Oklahoma. Financial terms of the transaction were not disclosed. This acquisition represents CAP’s first add-on since partnering with Kinderhook and Kinderhook’s 227th automotive / light manufacturing transaction since inception.

Founded in 2007, Pro Parts Center is a Houston, Texas based warehouse distributor of aftermarket collision automotive parts primarily to collision centers. Through its network of three distribution centers, PPC serves MSOs and independent collision shops in Texas, Louisiana, and Oklahoma. PPC has expanded organically through the opening of its three strategically located hubs across Texas. Tommy Wong will remain the President of Pro Parts, and will lead the Texas division for CAP.

Thomas Lee, Founder and President of Continental Auto Parts, stated, “This acquisition provides tremendous opportunity for CAP to expand its footprint to new markets. This partnership will catalyze growth and elevate our collective standing in the market with both customers and suppliers. With a shared dedication to our customers, our focus continues to be enhancing the customer experience and delivering value.”

“This marks an exciting chapter in our company’s journey, unlocking new possibilities and opportunities for growth,” said Tommy Wong, President of Pro Parts Center. “As we integrate Pro Parts Center into the CAP ecosystem, I am genuinely excited about the fresh perspectives and energy it brings to our organization.”

Paul Cifelli, Managing Director at Kinderhook, said, “With a proven track record of success, the acquisition of Pro Parts Center is highly strategic and positions CAP for the next phase of expansion with Kinderhook. We are excited to enter the Texas market which stands to benefit from strong demographic trends in its region as well as secular trends in the industry to accelerate CAP’s growth trajectory.”

Fredrikson & Byron, P.A. served as legal counsel to Kinderhook for the transaction. Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Pro Parts Center for the transaction. Financing for the transaction was provided by Truist Bank, TD Cowen, and Stifel Financial Corp.

For additional information about this transaction, please contact: 
Paul Cifelli
Managing Director
(212) 201-6797
[email protected]
 
Michael Zoch
Managing Director
(212) 201-6785
[email protected]