Houlihan Lokey Advises PartsTech

Houlihan Lokey is pleased to announce that PartsTech, a portfolio company of Insight Partners, OpenView Partners, The Bosch Group, and BP Venture Partners, has been acquired by OEConnection (OEC), a portfolio company of Genstar Capital.

PartsTech is a precisely accurate and efficient auto parts procurement platform for mechanical repair shops designed to accelerate the parts-sourcing process and drastically improve the speed of vehicle repair. PartsTech connects a network of 25,000+ repair shops to parts and tire suppliers across 30,000+ locations, offering an industry-leading data catalog with best-in-class data ingestion capabilities, developed over 10 years of catalog investment. PartsTech also offers a suite of SaaS solutions with features such as access to additional suppliers and advanced analytics and insights.

OEC is a leading technology provider for the aftersales industry, building networks for manufacturers, dealers, repairers, and insurers that allow all connected stakeholders to collaborate and leverage data. OEC’s software solutions empower dealers, repairers, manufacturers, fleets, and distributors to perform critical business functions, increase efficiencies, and drive profitability.

Houlihan Lokey served as the exclusive financial advisor to PartsTech. This deal highlights Houlihan Lokey’s continued success as a leading advisor in the automotive technology space and to founder-led businesses. This transaction also marks the second business sold by Houlihan Lokey to OEC (Overall Parts Solutions in December 2021).

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