Auveco Products announced the acquisition of W&E Sales Company. 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 include:
- Augmented product offerings and innovation: Broader product selection and accelerated product innovation, allowing distributors to meet the ever-changing needs of their end users.
- 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 for growth to enhance the value proposition to their customers by adding product lines, technology, and resources to best support their customers.
The acquisition transaction was effective as of June 27. Both Auveco and W&E will continue to function as they have been and support their respective customers with their existing products and services. In the longer term, plans will be developed to better integrate the offering of the two companies and leverage each other’s strengths.
