EXETER, Pa., Oct. 20, 2011 /PRNewswire/ -- Keystone Automotive Operations, Inc., the leader in distributing specialty automotive components and accessories, in coordination with its majority shareholders Platinum Equity, announced today that it has acquired NTP Distribution, Inc. NTP is a privately held provider of quality aftermarket products, parts and accessories for dealers in the recreational vehicle (RV) and towing industries.
"This is a terrific example of how Keystone can leverage its strong logistics and distribution capabilities to offer dealers in the RV and hitching and towing industries our unique value proposition," said Ed Orzetti, President and CEO of Keystone Automotive. "This acquisition rapidly expands our growing customer base and our product portfolio in the RV industry." Jacob Kotzubei, Partner, Platinum Equity, whose team led the acquisition on behalf of Keystone Automotive, said, "We are delighted to assist Keystone Automotive and its management team execute on their desired diversification and growth plans so quickly after becoming the majority shareholder."
NTP President Greg Boyd said, "The sale is a positive outcome in our continuing efforts to seek new strategies, new regional markets and additional capital in order to better serve our customers and to stay competitive in our market." Boyd went on to say that he looks forward to continuing to lead NTP to new opportunities and successes as a part of Keystone.
Founded as Northwest Trailer Parts in 1962, NTP (www.ntpdistribution.com) has grown to include over 200 employees, five major warehouses, and two satellite operations across the U.S. NTP is headquartered in Wilsonville, Oregon. NTP is one of the largest distributors of aftermarket products, parts and accessories in the RV industry and currently services customers throughout major portions of the U.S. within 1-2 days.
Financial details of this acquisition remain confidential.
About Keystone Automotive
Keystone Automotive Operations, Inc. (www.keystoneautomotive.com) and its affiliates are wholesale distributors and retailers of aftermarket automotive accessories and equipment, with operations servicing customers in all regions of the United States and provinces of Canada, as well as various other international locations. The Company's fleet of over 300 trucks provide multi-day per week delivery and returns covering the 48 contiguous states and nine provinces of Canada. The Company sells and distributes specialty automotive products, such as light truck/SUV accessories, car accessories and trim items, specialty wheels, tires and suspension parts, and high performance products to a fragmented base of approximately 15,000 customers. The Company's corporate headquarters is in Exeter, Pennsylvania.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 120 acquisitions.
SOURCE Keystone Automotive Operations, Inc.