OEConnection, a Richfield, Ohio-based global automotive technology provider for OEM distribution networks, received a majority investment from Genstar Capital.
With this transaction, first announced on August 1, 2019, current investors, Ford Motor Company and General Motors, will each retain their minority investments in the company.
Financial terms of the deal were not disclosed.
Founded in 2000 and led by Chuck Rotuno, Chairman & CEO, OEC is a provider of software solutions and data to the original equipment parts industry, serving more than 30,000 auto dealers globally, 36 global OEM brands and more than 135,000 global auto repairers.
Its suite of ecommerce, pricing, supply chain, service, business intelligence, parts cataloging, data solutions, and services alows automakers and their dealer networks to sell more OE parts in the collision, fleet, mechanical and retail segments, as well as dealers’ own service lanes.