OEConnection LLC (OEC) and Genstar Capital announced they have finalized the deal for Genstar to acquire a majority stake in OEC from Providence Equity Partners that was announced in August. Current investors, Ford Motor Company and General Motors, will each retain their minority investments in the Company. Financial terms of the transaction were not disclosed.
OEC was founded in 2000 as a partnership between several original equipment manufacturers (OEMs), including Ford and General Motors, to provide technology solutions to facilitate the sale of original equipment replacement parts between automakers and franchised dealers and their wholesale customers. Since its founding, the