Aftermarket

Lender Compliance Technologies Announces Partnership with AKUVO

Retrieved on: 
Tuesday, April 9, 2024
Recreational Vehicles, Software, Sports, Powerboating, Professional Services, Fintech, General Automotive, Technology, Aftermarket, Automotive, Artificial Intelligence, Insurance, Finance, NCUA, Partnership, Credit, LCT, GAP

Lender Compliance Technologies, an emerging leader in compliance solutions for managing finance and insurance (F&I) product refunds, is proud to announce a new partnership with AKUVO, a technology organization that specializes in collections and credit risk.

Key Points: 
  • Lender Compliance Technologies, an emerging leader in compliance solutions for managing finance and insurance (F&I) product refunds, is proud to announce a new partnership with AKUVO, a technology organization that specializes in collections and credit risk.
  • Specifically, regulators want to ensure borrowers are refunded when F&I products are cancelled due to repossessions, early payoffs and total losses.
  • “We’re thrilled to add value to the AKUVO Platform with LCT’s regulatory solution,” said Mike Ruggiero, AKUVO’s SVP of Relationships.
  • “With this integration, requesting cancellations and refunds will become a seamless part of our customers’ collection process.”

Fenix Parts Completes Acquisition of Neal Auto Parts

Retrieved on: 
Tuesday, April 9, 2024
Recycling, Aftermarket, Automotive, Automotive Manufacturing, Environment, Manufacturing, Multimedia, Acquisition, Parent, Learning

Fenix Parent LLC, operating as Fenix Parts (“Fenix Parts” or the “Company”), a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of Neal Auto Parts (“Neal”) in Peoria, Illinois.

Key Points: 
  • Fenix Parent LLC, operating as Fenix Parts (“Fenix Parts” or the “Company”), a leading recycler and reseller of original equipment manufacturer automotive parts, announced today it has completed its acquisition of the assets of Neal Auto Parts (“Neal”) in Peoria, Illinois.
  • Fenix Parts was acquired by affiliates of Stellex Capital Management LLC in April 2018.
  • This is Fenix Parts’ eighth acquisition in the Midwest and brings Fenix’s location count to 27 full-service and 5 self-service locations.
  • Bill Stevens, CEO of Fenix Parts, said, “We are pleased to announce the acquisition of Neal and excited about the addition of its experienced and talented team to the Fenix family.

Asbury Automotive Group Schedules Release of First Quarter 2024 Financial Results

Retrieved on: 
Tuesday, April 9, 2024
General Automotive, Other Automotive, Aftermarket, Automotive, Asbury Automotive Group, Internet

Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on Thursday, April 25, 2024.

Key Points: 
  • Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on Thursday, April 25, 2024.
  • Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.
  • The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com .
  • Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing:

Platform Science Raises $125 Million in Growth Capital

Retrieved on: 
Tuesday, April 9, 2024
Hardware, Technology, Apps, Applications, Other Transport, Trucking, Fleet Management, General Automotive, Transport, Aftermarket, Automotive, Software, Logistics, Supply Chain Management, Networks, Vehicle Technology, Mobile, Wireless, MSD, Growth, Original equipment manufacturer, BDT, PACCAR, Daimler Truck North America, Daimler Truck, Testament, Werner Enterprises, GDP, Ecosystem, API

Platform Science , the leading edge application platform for transportation, announced today that it raised $125 million in growth capital to accelerate innovation in the commercial transportation sector.

Key Points: 
  • Platform Science , the leading edge application platform for transportation, announced today that it raised $125 million in growth capital to accelerate innovation in the commercial transportation sector.
  • Platform Science also had strong participation from existing investors, including 8VC, NewRoad Capital Partners, and Prologis Ventures, underscoring their commitment to the company’s growth plans.
  • By doing so, we expect innovation to change transportation in the same way smartphones have changed our lives,” said Platform Science co-founder and CEO Jack Kennedy.
  • We look for opportunities that are driving impact at scale, and Platform Science is doing exactly this.

Holley Ordered to Disgorge $2 Million in Ill-Gotten Profits

Retrieved on: 
Tuesday, April 9, 2024
Legal, Aftermarket, Automotive, Finance, General Automotive, Banking, Professional Services, Recreational Vehicles, Performance & Special Interest, Off-Road Trucks & SUVs, Warren, Michigan, District court, Vexatious litigation, Dykema Gossett, Motion, Judgement, Holley Performance Products, Settlement, Court, HP

“Proform”) that started 24 years ago when Holley filed suit against Specialty, alleging that Specialty had misappropriated the “trade dress” of Holley’s carburetor main bodies.

Key Points: 
  • “Proform”) that started 24 years ago when Holley filed suit against Specialty, alleging that Specialty had misappropriated the “trade dress” of Holley’s carburetor main bodies.
  • So in 2012 Specialty filed a summary enforcement motion suit claiming that Holley was failing to comply with the Settlement Agreement.
  • In 2017 Specialty filed its breach of contract lawsuit against Holley for violating the Settlement Agreement, arguing that it was entitled to disgorgement of the $2,028,264.19 in net profit reaped by Holley.
  • Specialty prevailed in this lawsuit, and the court entered summary judgment in favor of Specialty and against Holley.

Snap-on Incorporated to Webcast 2024 First Quarter Results Conference Call

Retrieved on: 
Thursday, April 4, 2024
Other Manufacturing, Construction & Property, Aftermarket, Automotive, Engineering, Automotive Manufacturing, Aerospace, Manufacturing, Machine Tools, Metalworking & Metallurgy, Other Construction & Property, Download, Webcast, Internet, SNA

Snap-on Incorporated (NYSE: SNA) will release 2024 first quarter results prior to the market open on Thursday, April 18, 2024.

Key Points: 
  • Snap-on Incorporated (NYSE: SNA) will release 2024 first quarter results prior to the market open on Thursday, April 18, 2024.
  • A conference call to discuss the results will be held at 10:00 a.m.
  • The conference call audio and accompanying slides will be webcast live via the Internet.
  • To access the call, visit https://www.snapon.com/EN/Investors/Investor-Events and click on the link to the webcast.

Gulf States Toyota Names Automotive Industry Veteran Eric Williamson as President and General Manager

Retrieved on: 
Wednesday, April 3, 2024
Aftermarket, Automotive, Other Automotive, Automotive Manufacturing, General Automotive, Manufacturing, Fleet Management, Growth, GST, Greater Houston, Partnership, Toyota Motor North America, Dan Friedkin, Transport, Friedkin, Pleasure, Multimedia, Marketing, Human resources

Eric Williamson, an accomplished automotive industry leader with more than three decades of experience across Gulf States Toyota (GST) and The Friedkin Group, has been named president and general manager of GST.

Key Points: 
  • Eric Williamson, an accomplished automotive industry leader with more than three decades of experience across Gulf States Toyota (GST) and The Friedkin Group, has been named president and general manager of GST.
  • Williamson’s appointment is effective immediately and he will continue to be based in Houston where GST is headquartered.
  • View the full release here: https://www.businesswire.com/news/home/20240403945602/en/
    Eric Williamson, Gulf States Toyota, President and General Manager (Photo: Business Wire)
    Williamson has spent 35 years in various leadership roles at the organization and has a deep understanding of GST’s operations and position within the industry.
  • He has worked closely with dealer partners and Toyota, touching nearly every area of the business throughout his career.

Atmus Filtration Technologies Inaugurates New Distribution Center

Retrieved on: 
Wednesday, April 3, 2024
Other Manufacturing, Aftermarket, Automotive, HVAC, Supply Chain Management, Automotive Manufacturing, Manufacturing, Retail, Filtration, Supply, Filter (signal processing), SDC, Movement, Mining

Atmus Filtration Technologies Inc. (NYSE: ATMU) (“Atmus”), a global leader in filtration and media solutions, has announced the expansion of its distribution capabilities with the inauguration of the Atmus Southern Distribution Center (SDC) in Hutchins, Texas, U.S.

Key Points: 
  • Atmus Filtration Technologies Inc. (NYSE: ATMU) (“Atmus”), a global leader in filtration and media solutions, has announced the expansion of its distribution capabilities with the inauguration of the Atmus Southern Distribution Center (SDC) in Hutchins, Texas, U.S.
    SDC had a soft launch in late 2023 and is now fully operational, signifying a critical milestone as Atmus transforms its supply chain to better serve its customers.
  • Situated just outside of Dallas, the SDC covers 94,000 square feet that is solely dedicated to distributing Fleetguard products, a brand of Atmus.
  • Opening the SDC allows us to better serve our customers when and where they need us,” said Paul Massey, Vice President of Supply Chain at Atmus.
  • Atmus Filtration Technologies has 11 distribution centers strategically located around the world, including more than 1.6 million square feet across six continents.

AutoLeap Wins 5 G2 Awards in Spring 2024

Retrieved on: 
Wednesday, April 3, 2024
Data Management, Aftermarket, Automotive, Technology, Telecommunications, Mobile, Wireless, Software, Adobe, HubSpot, Salesforce, Zoom, G2, Online shopping

G2 scores products and vendors based on reviews gathered from our user community and data aggregated from online sources and social networks.

Key Points: 
  • G2 scores products and vendors based on reviews gathered from our user community and data aggregated from online sources and social networks.
  • AutoLeap is cloud-based auto repair management software that helps shop owners better understand, manage, and grow their businesses.
  • The best auto repair shops choose AutoLeap because it helps them save time and make more money.
  • More than 90 million people annually — including employees at all Fortune 500 companies — use G2 to make smarter software decisions based on authentic peer reviews.

Manheim San Antonio Earns defi MANAGED SERVICING Remarketing 2023 Auction of the Year

Retrieved on: 
Tuesday, April 2, 2024
Professional Services, Aftermarket, Automotive, General Automotive, Finance, Fintech, Banking, Partnership, Sale, Defi, Transport, Auction, Mannheim, Multimedia

defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform of products and services, is recognizing the relationship and contributions of partner Manheim San Antonio by bestowing its annual award for Auction of the Year.

Key Points: 
  • defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform of products and services, is recognizing the relationship and contributions of partner Manheim San Antonio by bestowing its annual award for Auction of the Year.
  • With more than 100 operating locations worldwide and mobile auctions held at non-traditional locations, Manheim San Antonio and other Manheim auctions continuously perform at the top of their game for defi and its lenders.
  • defi continues to offer a full-service remarketing program – with reconditioning, inspection, transportation, and auction sale – for banks and financial institutions of all sizes.
  • “Manheim San Antonio made an impressive showing this past year,” said Steve Bissett, defi SOLUTIONS VP of client services.