FOR IMMEDIATE RELEASE
OEC Completes Acquisition of Clifford Thames Group
CLEVELAND, Ohio, July 11, 2017 – OEConnection LLC (OEC), the leading automotive technology provider for original equipment manufacturers’ (OEM) distribution networks, is pleased to announce that its purchase of Clifford Thames Group (CT) was completed on June 30, 2017.
The unified company creates a global parts and service business unmatched in the auto industry, with 13 offices spread across four continents, providing solutions that help OEMs and their dealer networks grow market share and increase sales of original equipment (OE) parts in every market segment.
OEC is the auto industry’s leading provider of supply chain and ecommerce technology solutions for OE parts. CT is the leader in creating and managing the data needed to repair and maintain vehicles for manufacturers, repairers, leasing and fleet companies, and their partners. CT brings complementary products and services to the OEC portfolio, as well as an extensive international footprint and unrivaled heritage that will help drive global growth for the company.
“The combination of CT and OEC means great opportunity for the industry,” remarked Chuck Rotuno, Chairman & CEO of OEC. “The new OEC is the only global one-stop shop that provides the means for automakers and dealerships around the world to deliver parts and service information quickly and accurately into the hands of repairers in collision, fleet, mechanical and retail segments, as well as their own service lanes, through a suite of parts cataloging, supply chain, pricing, ecommerce, service and business intelligence solutions.”
“Separately, OEC and CT were leaders in our respective categories,” added Calvin Barnett, President of CT. “Together, we are now the leader across all categories, with solutions and innovations that work together synergistically to enable us to better serve our current and future customers.”
“We are excited to once again make a significant investment in OEC that is not only highly synergistic, but transformational to the business,” said Davis Noell, Managing Director of Providence Equity Partners, majority owner of OEC. “Both OEC and CT had record years in 2016 with revenue growth in excess of 20% and combined now have over $130m in revenues, setting up OEC to capitalize on further opportunities ahead.”
The expanded OEC company will continue to operate from its numerous offices around the globe and will maintain its headquarters in Cleveland, Ohio, as well as CT’s main office in Chelmsford, UK.
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OEC is the leading global parts ecommerce technology provider for OEMs and their distribution networks, serving over 30 global OEMs and leasing companies in over 120 countries, and more than 100,000 dealership and repair customers. OEC facilitates an estimated $26 billion in annual replacement parts trade by helping our customers access real-time, dynamic pricing; creating and managing the data needed to repair and maintain vehicles; and educating customers on how to best market, manage and move original equipment parts. The company is headquartered in the greater Cleveland area at 4205 Highlander Parkway, Richfield, Ohio, 44286. Additional information is available at www.OEConnection.com or by emailing Geo Money at Geo.Money@OEConnection.com.
+44 1245 236600
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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