FOR IMMEDIATE RELEASE
OEConnection Holdings, whose portfolio includes OEC, the leading automotive technology provider for original equipment manufacturers’ (OEM) distribution networks, announced today that it has added to its portfolio by signing a definitive agreement to purchase Clifford Thames Group from Private Equity owner LDC.
Headquartered in Chelmsford, Essex, and serving customers in over 120 countries, aftermarket tech leader Clifford Thames creates and manages the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies.
Operating from offices in seven countries across Europe, North America and Asia Pacific and employing almost 500 people, Clifford Thames made two strategic acquisitions over the past 3 years of both AC Autoconsult in Germany and an Electronic Parts Catalogue platform.
With long established working relationships already in place between OEConnection and CT the the acquisition will bring the two complementary businesses under the same parent company, and enables OEConnection Holdings to benefit from Clifford Thames’ global network to further drive international growth.
Clifford Thames Chair, Neville Davis, comments, "Clifford Thames has performed strongly over the last three years, substantially growing both Revenues and Profits. We have extensively enhanced the Solutions we provide, based upon our deep understating of the Global Automotive Aftermarket and the data and processes at the heart of it. Worldwide, we have won some major new clients, whilst further comprehensively developing relationships with our existing customers. Great credit is due to the excellent management and staff of the business.
This transaction with OEConnection Holdings is a genuine 'win-win'. We have known (and worked with) their portfolio company, OEC, for many years. The two organisations focus on the same market and share similar culture and values; our solutions are very complementary, with no overlap, and the geographical fit is excellent, giving the enlarged group remarkable global coverage. Clifford Thames and OEConnection Holdings each have their own ambitious plans for growth - together, the potential for success is substantively greater. This is very positive for the Customers and Employees of both companies."
For information from CT please contact Emma Knewstub email@example.com
For information from LDC please visit: www.ldc.co.uk
For information from OEConnection Holdings please visit: www.oeconnection.com
We are a technology enabled company building on skills, knowledge and experience in automotive data creation and management. Clifford Thames sits at the heart of the global automotive aftermarket. We create and manage the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies and their partners. Our solutions help drive customer satisfaction and profitability.
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