KSI Trading Corp. to Acquire Richmond Tidewater Bumper in Virginia

KSI Trading Corp. to Acquire Richmond Tidewater Bumper in Virginia

Founded in 1980 by Norman Seay, Richmond Tidewater Bumper sells OEM-look-alike crash parts to body and paint shops.

KSI Trading Corp., a Southfield, New Jersey-based distributor of auto body parts, announced it has signed a definitive agreement to acquire wholesaler Richmond Tidewater Bumper.

Founded in 1980 by Norman Seay, Richmond Tidewater Bumper sells OEM-look-alike crash parts to body and paint shops. The company’s 200,000-square-foot distribution facility “provides unparalleled access to markets in coastal Virginia as well as in North Carolina,” according to KSI.

The acquisition also will increase KSI’s presence with multi-shop operators and insurers, KSI said.

“Today is an exciting day at KSI Auto Parts as we announce our first acquisition and realize an important step in our long-term growth strategy,” said Christopher Patti, CEO of KSI Trading Corp. “The combination of these two long-tenured businesses expands our delivery fleet and gives KSI an NSF-certified distribution center. The acquisition of RTB furthers our mission of becoming the second-largest distributor of automotive aftermarket collision parts in North America.

“KSI’s new management team looks forward to continuing our aggressive plan to expand the business, both organically and via acquisitions, to provide options for, and exceptional service to body shops and insurance companies within every market. We continue to see opportunities to increase our market share and accelerate our long-term growth through similar acquisitions.”

Earlier this year, KSI was acquired by Investcorp, a global provider and manager of alternative investment products with a history of investing in automotive and related markets.

“We are thrilled to see KSI executing on its growth plan by acquiring RTB, a high-quality company within the segment, and we look forward to seeing KSI continue to grow geographically and establish stronger relationships with insurance companies and MSOs,” said Steve Miller, managing director of Investcorp’s private equity group in North America.

Richmond Tidewater Bumper will operate under the name “Richmond Tidewater Bumper, a KSI Auto Parts Company” until it transitions to “KSI Auto Parts.”

KSI said it is keeping all existing RTB locations and its customers will continue to be serviced primarily out of the Mechanicsville location. The acquisition brings KSI’s total headcount to approximately 700 employees.

You May Also Like

Monro, The Group Announce National Supply Agreement

The national supply program will begin in several pilot areas and will expand throughout the country in future weeks.

The Automotive Parts Services Group (The Group), a joint venture of The Pronto Network and Federated-Alliance, recently announced a national supply agreement with Monro Inc. on behalf of member distributors.

“The ability to provide national coverage through our collaboration with a single central billing process is key with national customers like Monro,” said Larry Pavey, CEO of the Automotive Parts Services Group. “By working together, our members are able to deliver the same benefits as retail competitors, as well as local expertise and dedication to the needs of professional service providers. This agreement provides members of The Group with the opportunity to offer premium parts and service to Monro and their more than 1,300 locations through an efficient, coast-to-coast system integration.”

Advance to Spin Off Worldpac as Company Reports Operating Loss

Advance also will divest its Canadian business and announced a $150 million cost-reduction program.

Fenix Parts Completes Acquisition of Brothers Auto Parts

Brothers is a full-service automotive recycler servicing the Indianapolis market.

Carquest by Advance Opens New Store in Virginia

It’s the fourth Carquest store owned by Magee Auto Parts LLC.

Fisher Auto Parts Acquires Berrodin Parts Warehouse

Berrodin Parts Warehouse has nine warehouse locations throughout Southeastern Pennsylvania and Northern Delaware.

Other Posts

Advance Shakes Up Executive Team, Launches Strategic Review

Former Home Depot exec Shane O’Kelly will take over as president and CEO effective Sept. 11.

Arnold Motor Supply Acquires Barron Motor Supply

Both century-old companies will combine to expand services for the Eastern Iowa market.

Mergers and Acquisitions Automotive Aftermarket
DealerShop Acquires Jobbers Automotive

Jobbers Automotive offers automotive paint, janitorial supplies, body shop equipment, bulk oil and WeatherTech products.

Factory Motor Parts Acquires Auto Plus Stores

FMP’s new locations will have inventories for all makes and all models combined with aftermarket brands as a result of the transaction.