Yusef Al Yusef, Head of Investcorp’s Private Wealth. Image Credit: Supplied

Bahrain: Global alternative investment firm Investcorp has acquired S&S Truck Parts, a distributor of replacement parts for heavy-duty logistics vehicles and trucks, it said on Sunday.

Founded in Chicago in 1952, S&S today serves over 1,600 customers including Original Equipment Manufacturers (OEMs), commercial truck dealers, independent warehouse distributors and service shops primarily across North America.

Yusef Al Yusef, Head of Investcorp’s Private Wealth commented: “We are pleased to have entered into this investment with S&S Truck Parts, as it complements our experience in the vehicle replacement parts industry. S&S’s leading market position, strong customer relationships and the compelling value proposition of its private label offering present an attractive investment opportunity.”

“Our goal is to always provide our customers with a wide selection of high-quality truck parts and a premium service through our experienced and talented employees,” said DJ Hoffman, CEO at S&S. “We are proud to be partnering with Investcorp, who has an impressive track record in the vehicle replacement parts industry and a strong heritage in providing strategic and thoughtful partnership to family and founder-led businesses. This marks an exciting opportunity to further capitalize on the growth of our unique private label and branded offering.”

The partnership will focus on continuing S&S’s organic growth through further expanding its unique private label offering, accelerating new product development, geographic expansion across North America and seeking to complete strategic add-on acquisitions. The senior management team of S&S will retain a significant ownership stake in the business as part of the transaction.

As of December 31, 2021, Investcorp Group had $40.4 billion in total AUM.