Parts Authority, one of the largest aftermarket distributors in the United States, has acquired Penny Pincher Auto Parts of Phoenix.
The transaction closed May 1, 2019.
“Penny Pincher has built its reputation on providing the highest level of service combined with the most reliable inventory in Phoenix for more than 40 years,” Long Island, New York-based Parts Authority said in a news release.
Under the Parts Authority umbrella, Penny Pincher will continue to operate with its existing management teams.
“This is an incredible addition to our Parts Authority family of brands,” said Eric Schwartz, vice president of West Coast operations for Parts Authority. “Jeff and Juan have built a tremendous business over the years at Penny Pincher. The business model and team they have in place is a great addition to our overall platform.”
Jeff Ungerman, owner of Penny Pincher, added: “Juan and I are extremely excited to join the Parts Authority family. Parts Authority has been a major force in the automotive and truck parts aftermarket for many years. We believe this partnership will allow us to be even more competitive in the Phoenix Metro marketplace, while also providing great benefits to our knowledgeable team members and our loyal customers. We’re ecstatic at what this partnership has to offer.”