July 17, 2018
Finance

Investcorp acquires US auto body part supplier

KSI will be led by Christopher Patti, the companys newly appointed Chief Executive Officer, who brings experience in both privately-held as well as publicly-traded companies. Patti has held leadership roles in the automotive aftermarket industry since 2007 when he joined Keystone Automotive Operations. More recently, he was Senior Vice President of Sales and Marketing for North America at LKQ, where he was responsible for sales in both the salvage and aftermarket collision business units as well as the Paint, Body & Equipment (PBE) business.

“We are excited to partner with KSI, as they have proven their ability to execute through various market cycles. We have been extremely impressed with the quality and dedication of the KSI employees who have built this company. We look forward to working with Chris and the entire KSI team and we are confident in the companys ability to continue to deliver results, increase market share and accelerate growth over the long term,” said Mohammed Al-Shroogi, Investcorps Co-CEO.

Investcorp has a strong history of investments in the automotive and related markets. With this acquisition, Investcorp also sees an opportunity for KSI to grow by expanding geographically, through the opening of greenfield locations, pursuing acquisitions and establishing stronger relationships with insurance companies and multi-shop operators (MSOs).

Founded in 1984, KSI is an industry-leading distributor of quality replacement auto body parts servicing over 10,000 collision repair shop customers across 25 locations in 14 states. In addition to top quality products, KSI has succeeded in providing superior customer service, rapid order turnaround and competitive pricing over the last three decades. Headquartered in South Plainfield, New Jersey, KSI has over 600 employees across the US.

Original Article

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