OEConnection LLC (OEC) announced on June 2 that Providence Equity Partners will acquire a majority equity stake in the company.
Providence is a global private equity firm with $45 billion in assets under management. General Motors and Ford will each maintain a 15 percent minority stake in the.
“Providence has a thorough understanding of OEC’s business model and market opportunities as well as a proven track record of successful partnerships and investments in similar companies,” said Chuck Rotuno, president & CEO, OEConnection. “We look forward to leveraging their resources and expertise to expand our global client base, and make it