Fisher Auto Parts, KOI Auto Parts Announce Strategic Merger
March 24, 2014—Fisher Auto Parts on Monday announced that it has acquired controlling interest in KOI Auto Parts, effective April 1.
Dave Wesselman, president of KOI Auto Parts, said the strategic merger will allow the company to continue moving forward and improve customer service.
KOI currently operates 72 locations, with revenue of $200 million heavily concentrated in Kentucky, Ohio and Indiana. KOI said the high volume stores obtain a significant percentage of market share due to its presence in all market types, including aftermarket, OE, import, PBE and specialty divisions.
Fisher Auto Parts now has 470 locations and more than 100 independent jobbers in 18 states.
“KOI is excited about this merger with all our employees getting the opportunity of a lifetime to grow both professionally and personally,” Wesselman said. “Our management team remains in place and all 1,000 plus team members have retained their positions. It was very important to KOI’s Board of Directors that all of our employees retain their jobs and have the advancement opportunities this merger provides. It is business as usual at KOI. Our efforts will continue to support the KOI/Federated Brand as we look forward and continue to grow our company to be the leading auto parts supplier in our markets with the enhanced financial strengths this merger brings.”