Parts Authority, one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry throughout the United States, announced that it has acquired Penny Pincher Auto Parts. This acquisition represents an expansion of the Parts Authority market share in Arizona. The transaction closed May 1, 2019.
Penny Pincher has built their reputation on providing the highest level of service combined with the most reliable inventory in Phoenix Arizona for over 40 years. Under the Parts Authority umbrella, Penny Pincher will continue to operate with their existing management teams. “This is an incredible addition to our Parts Authority family of brands. Jeff and Juan have built a tremendous business over the years at Penny Pincher. The business model and team they have in place is a great addition to our overall platform”, said Eric Schwartz Vice President of West Coast Operations of Parts Authority. “Juan and I are extremely excited to join the Parts Authority Family. Parts Authority has been a major force in the Automotive and Truck Parts Aftermarket for many years. We believe this partnership will allow us to be even more competitive in the Phoenix Metro Marketplace, while also providing great benefits to our knowledgeable team members and our loyal customers. We’re ecstatic at what this partnership has to offer!”, said Jeff Ungerman Owner of Penny Pincher.About Parts Authority: Parts Authority, founded in 1972, is one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry in the United States serving customers in the commercial channel, including installers, dealerships, fleets and national accounts as well as in the e-commerce channel. Headquartered in Lake Success, NY, Parts Authority has over 250 locations, including IMC, across the Northeast, Mid-Atlantic, Ohio, Georgia, Florida, Texas, Arizona, California and the Pacific Northwest. Parts Authority is led by President & CEO Randy Buller and a management team with long-tenured industry experience. Parts Authority has grown through both organic initiatives as well as through acquisitions. Over the past several years Parts Authority has acquired over a dozen companies as part of its geographical expansion initiative.