Owner Resource Group Portfolio Company Global Parts Distributors Completes Acquisition of Santech Industries
AUSTIN, May 31, 2012 – Global Parts Distributors (“GPD”) announced today that it has acquired Santech Industries (“Santech”). GPD is an Owner Resource Group (“ORG”) portfolio company.
GPD (www.globalpartsdist.com), based in Macon, Georgia, is a national distributor of automotive aftermarket air conditioning (“AC”) parts and radiators to discount parts warehouses, retail chains, mass-market retailers, independent garages & repair shops.
Founded in 1971 in Fort Worth, Texas, Santech (www.santech.com) is a leading supplier of small parts and service kits to the automotive air conditioning aftermarket. Santech revolutionized the Automotive A/C industry when it created the U.S. 7,325,809 Patented line of Rapid-Seal A/C Service Kits which are designed to provide a single kit to seal all of the air conditioning connections on a single car.
The combination creates one of the industry’s most complete automotive aftermarket suppliers of air conditioning compressors and components. The combined company has a strong national presence, with operations in the Southeast and the Southwest as well as regional warehouses stretching from Philadelphia to California.
GPD CEO David Montford believes the acquisition will create the leading service and product offering in the segment, saying “These two companies are an excellent fit, creating a full line of AC compressors, components and small parts to a broad customer base.” Michael Deese, Santech’s President, added “This combination creates immediate synergies and together we’ll leverage our strong product platforms with patented products that cannot be duplicated in the industry.”
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm. We make investments that enable business owners and management teams to pursue their objectives. We provide certainty, fairness, flexibility, and confidentiality to business owners considering a transaction. After a transaction, our philosophy is to align our interests with management to support the existing culture and the continued growth of the business. ORG invests in companies with greater than $10 million in revenue, long-term growth prospects, and an existing, capable management team open to our value-added, collaborative approach.
For additional information, please visit www.orgroup.com or contact Will Burnett at 512-505-4180.