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Posted: Friday, October 21, 2011 - 14:52
Exeter, Pa., October 20, 2011 - / PRNewswire / - Keystone Automotive Operations, Inc., a leader in the distribution of components and accessories for automobiles, in coordination with its heritage of the majority shareholders Platinum, announced today that it has Distribution acquired NTP, NTP Inc. is a privately held provider of product quality replacement parts and accessories distributors in the recreational vehicle (RV) and trailer industries.
"This is an excellent example of how Keystone can leverage its strong logistics and distribution capabilities to provide RV dealers and towing industries and our unique value proposition," said Ed Orzetti, President and CEO Keystone Automotive. "This acquisition expands our rapidly growing customer base and our portfolio of products in the RV industry." Jacob Kotzubei, partner at Platinum Equity, whose team led the acquisition on behalf of Keystone Automotive, said, "We are delighted to help Keystone Automotive and its management team to execute their desired diversification plans and rapid growth after becoming the majority shareholder. "
NTP President Greg Boyd said: "The sale is a positive result in our continued efforts to seek new strategies, new regional markets and additional capital to better serve our customers and remain competitive in our market." Boyd went on to say that NTP expects to continue to bring new opportunities and successes as part of the Keystone.
Founded as Northwest Trailer Parts in 1962, NTP (www.ntpdistribution.com) has grown to include over 200 employees, five department stores, and two satellite operations across the U.S. NTP is headquartered in Wilsonville, Oregon. NTP is one of the largest distributors of spare parts and accessories in the RV industry and currently serves customers through major portions of the U.S. within 1-2 days.
Financial details of the acquisition remain confidential.
About Keystone Automotive
Keystone Automotive Operations, Inc. (www.keystoneautomotive.com) and its affiliates are wholesale distributors and retailers of aftermarket automotive accessories and equipment, with operations serving customers in all regions of the United States and Canadian provinces and several other international locations. The company's fleet of over 300 trucks provide several days per week delivery and returns covering 48 states and nine Canadian provinces. The Company sells and distributes automotive specialty products such as light truck / SUV accessories, car accessories and furnishing articles, special wheels, tires and suspension parts and performance products with a fragmented base of approximately 15,000 customers. The company's corporate headquarters is in Exeter, Pennsylvania.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a Global M & A & O ® firm specializing in merger, acquisition and operation of companies that provide services and solutions to customers in a wide range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 120 acquisitions.