SCHAUMBURG, Ill. & MERRILLVILLE, Ind.--(BUSINESS WIRE)--S&S Truck Parts LLC (“S&S”) and Midwest Truck & Auto Parts Inc. (“Midwest”) announced today that they have completed a merger of the two companies, creating a powerful alliance between the two best-in-class independent Truck Parts Distributors. The combination nearly doubles their collective business and forms a more diversified and scaled platform in the truck aftermarket space with the ability to source and offer a wider selection of high-quality products to customers.
This transaction unites two world class aftermarket organizations based in the Midwestern United States with more than 70 years of service to their communities and shared commitments to quality, service, and value. With increased scale and an expanded geographic footprint, the combined company will help its customers navigate a complex and challenged global supply chain, increasing available inventory and enabling faster delivery of products. In March of 2022, S&S Truck Parts was purchased by Investcorp, a leading global alternative investment firm.
In the combined organization, DJ Hoffman will serve as Chief Executive Officer. In the near term, the company expects operations to continue as currently structured.
“We are extremely excited to bring the S&S Truck and Midwest teams together, two companies with similar values and a commitment to superior customer service,” said DJ Hoffman, CEO of S&S Truck. “Our combination increases the breadth of our offerings for our customers, fortifies the depth of our workforce and trade partnerships, and ultimately accelerates our ability to grow and deliver a more thorough, modern and effective customer experience. We look forward to working closely with the Midwest team and together becoming an even stronger business as we continue serving our customers.”
“We are pleased to find a high-quality partner in S&S Truck and look forward to combining our capabilities, infrastructure and human capital to drive new growth in the business,” said Mark Chudacoff, CEO of Midwest. “I have long been an advocate for the promise of innovation and partnership, like that which has driven this merger forward. Our combination will deliver clear benefits for both companies’ customers and employees, and our commitment to sustaining and improving the communities in which we operate will remain steadfast.”
Founded in Chicago in 1952, S&S is one of the largest suppliers of aftermarket replacement truck parts for medium and heavy-duty trucks. A family-owned business since its inception, S&S Truck now serves over 1,600 customers with outreach spanning 67 countries, including OEMs, dealerships, warehouse distributors and service shops. Since 1946, Midwest Truck & Auto Parts has been dedicated to producing and distributing high quality aftermarket drivetrain products for the heavy, medium, and light duty vehicles– including components for high-performance racing applications. Midwest’s worldwide customers range from large retailers to warehouse distributors.
About S&S Truck Parts
S&S Truck Parts, LLC., is a leading distributor of private label and branded aftermarket truck parts. Under its proprietary “NewStar” brand, S&S offers a wide breadth of products for heavy and medium-duty trucks.
About Midwest Truck & Auto Parts
Midwest, and their proprietary brands, Motive Gear, Richmond Gear, TEN Factory, Powertrax, and World American, is a leading supplier of aftermarket drivetrain and related products to the heavy-duty truck, light truck, and performance racing markets.
About Investcorp
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure, and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2022, Investcorp Group had US $42.7 billion in total AUM, including assets managed by third party managers, and employed approximately 480 people from 50 nationalities globally across its offices.
For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
