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 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.
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.