1st Source Servall Purchases Appliance Parts Company of Louisiana

Acquisition includes all eight locations and continues national expansion

Sep 19, 2011, 11:13 ET from 1st Source Servall

DETROIT, Sept. 19, 2011 /PRNewswire/ -- 1st Source Servall, one of the North America's largest distributors of appliance parts, just became larger with the purchase of the Appliance Parts Company of Louisiana (APCOLA ) and its eight retail operations throughout Louisiana (Alexandria, Shreveport, Lake Charles, Lafayette, Baton Rouge, Metairie, Monroe and Bossier City). The acquisition includes all of the APCOLA's inventory, real estate and business infrastructure.  1st Source Servall will keep all of the acquired stores fully operating and plans to retain all of the approximate 50 employees currently employed by APCOLA.

"We are very excited about the acquisition of Appliance Parts Company of Louisiana, which is an organization with a remarkable reputation because of the leadership of its owner Fred Lambert.  We look forward to maintaining that reputation, while enhancing the inventory to provide the best customer service possible," said Kim Adler, president, 1st Source Servall.  "I think customers will also appreciate the fact that 1st Source Servall is also a family owned company and that we will provide the same type of personal attention they deserve."

Like 1st Source Servall, APCOLA is a family owned operated business, founded in 1972 in Alexandria, LA, that offers a full line of original equipment manufacturer (OEM) parts for Electrolux, General Electric, Maytag, Haier and Whirlpool. APCOLA also provides a wide range of supplies and accessories from industry names such as Sealed Unit Parts, Fasco, Diversitech and Ritchie.

In addition, APCOLA distributed a full line of HVAC Parts and equipment from International Comfort Product (ICP), which include brands like Heil, Tempstar, and AirQuest. 1st Source Servall will continue to stock all of the same inventory brands, but will expand its offerings to provide customers with more convenience and purchasing options.

"It is very difficult to sell a business that you have poured your heart and soul into for many years, but I am absolutely confident that 1st Source Servall will be able to carry on the reputation that the Appliance Parts Company of Louisiana has become famous for in this great state," said Fred D. Lambert, founder, Appliance Parts Company of Louisiana.

1st Source Servall's acquisition of APCOLA includes all of the company's extensive inventory, its entire real estate portfolio and the store infrastructure that APCOLA has developed in order to provide premium customer service.  The addition of the eight stores will increase 1st Source Servall's national footprint to 51 stores, including 12 distribution centers.  While this acquisition will mark 1st Source Servall's first brick and mortar location in Louisiana, the company has been shipping product to customers within the state for many years.  

This purchase, which continues 1st Source Servall's expansion plans, is integral in the company's Southern U.S. growth. 1st Source Servall entered the Southeast region last year when it purchased the Alabama Parts Company and the Appliance Parts Company of Mississippi and established a large Southeast distribution center in Birmingham, AL.  Within the past five years, the company has grown from 13 locations in two states to 51 store locations in 13 states.  The company has also grown from servicing customers in only Michigan and Ohio to a client base that spans the entire Continental U.S.

"1st Source Servall is committed to expanding our operations throughout the country, and this latest acquisition makes our company the fastest growing in the appliance parts industry," Adler continued.

Founded in 1929, 1st Source Servall is a third-generation family-owned and operated distributor of appliance parts. With branch offices and call centers located throughout the Midwest, Southwest, Southeast and Northeast, 1st Source Servall is the country's second-largest distributor of appliance parts. For more information about 1st Source Servall, please visit www.1stservall.com or Facebook.com/1stsourceservall.

Contact:
Benjamin Roberts, e3communications
716-854-8182

SOURCE 1st Source Servall



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