Auveco, a Leader in the Specialty Automotive Fastener and Body Hardware Aftermarket, Enhances Core Product Line With Acquisition of W&E Sales Company
COLD SPRING, Ky., July 23, 2019 (Newswire.com) - Auveco (the “Company”), the largest purveyor of specialty fasteners and body hardware used in the automotive aftermarket, announces the acquisition of W&E Sales Company (“W&E”), headquartered in Newark, New Jersey. W&E is a provider of autobody fasteners and specialty hand tools to the automotive aftermarket.
Auveco CEO Jeff Gilkinson said, “For years, the W&E brand and company have been synonymous with exceptional quality and service. The combination of these businesses has strong strategic fit and provides immediate benefits to customers of both Auveco and W&E. We are thrilled to expand our product portfolio while continuing to strengthen the breadth of solutions we can offer our growing network of distribution partners."
Auveco has grown in recent years, most recently through the June 2018 acquisition of Marli Manufacturing, a provider of automotive aftermarket mechanical components, including engine head bolts, intake manifold bolts, oil drain plugs, oil drain gaskets and other specialty fasteners and fittings. As with Marli, this acquisition brings new resources for W&E as a part of Auveco.
Richard Carr, CEO of W&E, said, "Auveco’s market leadership is underpinned by their extensive product portfolio and rapidly expanding array of new products. This partnership opens new opportunities to serve our channel partners while allowing W&E to stay true to its world-class product quality and customer service.”
Key benefits to Auveco and W&E distribution partners from the acquisition:
Augmented product offerings and innovation: Broader product selection and accelerated new product innovation, allowing distributors to meet the ever-changing needs of their end-users.
Outstanding service and support: Industry-leading customer service, robust online tools, and technical support to current and future channel partners.
- Further growth and expansion. The Company continues to invest in growth to enhance the value proposition to our customers by adding new product lines, technology, and resources to best support our customers.
The transaction was effective as of June 27, 2019.
Both Auveco and W&E will continue to function as they have been and support their respective customers with their existing products and services. Longer term, plans will be developed to better integrate the offering of the two companies and leverage each other’s strengths.
Founded in 1916, Auveco has become one of the predominant providers of automotive fasteners to the body hardware aftermarket, as well as general industrial fasteners used in maintenance, repair, and operations applications within North America. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, dealerships, and general manufacturers located throughout North America. For additional information, please visit www.auveco.com.
About W&E Sales Company
Since the early 1950s, W&E Sales Company has been providing the automotive market with the highest quality autobody fasteners and specialized hand tools, sold by distributors worldwide. W&E takes pride in delivering courteous service, error-free shipping, and attention to every detail, making sure that orders arrive at your location complete and as quickly as possible. W&E stocks and distributes over 2000 aftermarket components. For additional information, please visit www.wesales.com.