Calif. U.S. Auto Parts completed its acquisition of the Whitney
Automotive Group. The online parts retailer purchased the business for
$27.5 million, along with the assumption of approximately $11 million
in trade-related and other payables. Whitney Automotive Group is
expected to have $110 million to $120 million in revenues under U.S.
Auto Parts’ ownership in 2011. Silicon Valley Bank has provided the
company with acquisition financing totaling $35 million.
Whitney Automotive Group, a 95-year-old company best known for the JC
Whitney brand, is part of a group of established brands that distribute
aftermarket automotive parts primarily focused on the “Do It Yourself”
customer in the automotive accessories aftermarket. Its brand portfolio
includes Stylintrucks.com, Carparts.com and Allbikesupershop.com,
which, along with JCWhitney.com, generate approximately 3 million
monthly unique visitors.