Genstar Capital acquires majority share in OEConnection from Providence EquityMonday, 19 August 2019 | News
We are pleased to congratulate Providence Equity Partners on the divestment of their majority share in OEConnection (OEC) to Genstar Capital. We provided OEC and Providence with commercial vendor due diligence support, leveraging our deep expertise across both the software and automotive markets.
OEC was founded in 2000 as a partnership between several original equipment manufacturers (“OEMs”), including Ford and General Motors, to provide high-quality technology solutions to facilitate the sale of original equipment replacement parts between automakers and franchised dealers and their wholesale customers. Since its founding, the company has expanded to also provide software and technology solutions in the data, supply chain and service segments of OEMs’ businesses. Today, OEC is a leading provider of software solutions and data to the original equipment parts industry and is one of the industry’s only end-to-end comprehensive platforms, serving more than 30,000 auto dealers globally, 36 global OEM brands and more than 135,000 global auto repairers.
The transaction is another in a series that we have supported across both our automotive services and software practices, having worked on a wide range of deals in recent years including Anaqua, Magnitude, Belron and Autodata.
For more details on this transaction or OC&C's broader experience in this space, please contact Ed Plummer, Nic Farhi or Mark Jannaway.