September 2015




In this issue ...


Solera Acquired For $6.5 Billion

Solera Holdings, the parent company of Hollander, Inc. (www.solerainc.com), just announced it has entered into a definitive merger agreement with Vista Equity Partners (www.vistaequitypartners.com) to purchase Solera for $6.5 billion, including Solera’s existing debt.

Pursuant to the agreement, Vista will acquire 100 percent of the outstanding shares of Solera common stock for $55.85 per share in cash. The purchase price represents an unaffected premium of 53 percent over Solera’s closing share price of $36.39 on August 3, 2015.

The closing of the merger is conditioned upon customary closing conditions, including the approval of Solera stockholders and required regulatory approvals. It is expected to close no later than the first calendar quarter of 2016.

“This transaction delivers immediate compelling value to our stockholders and represents a pivotal milestone for Solera in partnering with Vista,” said Tony Aquila, Solera’s founder, Chairman and CEO. “It not only recognizes our innovative company and talented employees, but also provides us with the optimal flexibility to proliferate our world-class solutions and services for our customers. We are extremely excited about working with Vista to further strengthen Solera’s global leadership in risk and asset management technologies.”

“We are thrilled to be partnering with Solera,” said Robert F. Smith, Vista’s founder, Chairman and CEO. “For almost half a century, Solera has been serving the insurance and automotive industries with innovative software and information solutions. With the portfolio of products the Company has built and acquired, combined with the vision of its leadership, we believe Solera is incredibly well positioned for the next 50 years. The mission is clear and the opportunity is there to continue to transform how physical assets are managed and insured.”

Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 75 countries across six continents. Solera has 14 companies spread across the globe, including Audatex, Hollander and Identifix.

Vista Equity Partners is a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco. It invests in software, data and technology-based organizations.


Fenix Parts Acquires Ocean County Auto Wreckers

Fenix Parts, Inc. (www.fenixparts.com) announced it has acquired Ocean County Auto Wreckers, Inc., located in Bayville, N.J. It’s the company’s first acquisition.

Kent Robertson, CEO of Fenix Parts, said, “We are pleased to announce our first acquisition since our IPO and related combination in May as we welcome the Ocean County team to Fenix Parts. Ocean County is a high-quality auto recycler that meets all of our acquisition criteria, with strong leadership and operations adjacent to our existing markets that will expand our distribution, dismantling, warehouse and yard capacity.”

Robertson continued, “With the addition of Ocean County, we now have 14 facilities located primarily in the northeastern U.S. and Canada, allowing Fenix to provide customers access to a larger, more diverse inventory and better product availability. We look forward to announcing future acquisitions as we continue to execute our expansion strategy.”

Founded in 1959, Ocean County Auto Wreckers is a full-service auto recycling facility and represents Fenix Parts’ second location in New Jersey, the first being Leesville Auto in Rahway, N.J. Ocean County had revenues of approximately $8 million for the past 12 months ending June 30, 2015.

Fenix was founded in January 2014 to combine eight founding companies and create a network that offers sales, fulfillment and distribution in key regional markets in the United States and Canada. The founding companies have been in business an average of 25 years and operate from 13 locations.


Chuck & Eddie's Recognized For Supporting Guard And Reserve Employees

Chuck & Eddie’s Used Auto Parts, with multiple locations in Connecticut, was recently nominated for the Secretary of Defense’s Freedom Award. The Freedom Award is the highest award given to employers by the U.S. Government to recognize that employer’s support of the Guard and Reserve forces.

Chuck & Eddie’s Used Auto Parts was among seven other Connecticut businesses to be recognized for this nomination by the Connecticut Committee for the Employer Support of the Guard and Reserve (ESGR). The state group held its annual award ceremony on June 17.

“You are all doing right,” said Ted Graziani, Connecticut ESGR state Chair. “The support you give to you military employees should not be the exception but the standard, and for all of you here you have exceeded that standard.”

The nominations for the Freedom Award are generated by employees of the company that also serve in the five reserve components; Army, Air Force, Navy, Marines and Coast Guard Reserve.

To be nominated and selected to move up the Freedom Award process, employers have to show their support for their military employees by going above and beyond the Uniformed Services Employment and Reemployment Rights Act, which offers forms of protection for both employers and service members when a service member deploys and returns back to their civilian employer for work. This means the employer doesn’t just adhere to the law, but embraces the commitment of the service member and provides additional support networks, added benefits and community involvement.


See You At ARA 2015

The ARA convention and exposition is just around the corner and The Locator will be there. The 72nd event will be held Oct. 7 - 10, 2015 at the Westin in Charlotte, N.C.

The 2015 show, held in the heart of NASCAR country, is deemed “The Fast Track To Success!” The show will feature nearly 35 educational sessions, several meetings, keynote speakers, more than 100 exhibitors and entertainment events, including attending the Sprint Cup Series Bank of America 500 on Saturday, Oct. 10.

The Locator will be at Booth 521. Stop by, say hi and get your photo taken! The Past Presidents Reception kicks off the expo on Thursday night at 5. The expo is also open on Friday from 1:15 - 5:15 p.m. and on Saturday from 8 a.m. - Noon.

For more information visit www.araexpo.org.


October Deadlines

  • September 23, 2015: Listings for The Locator Magazine.

  • September 28, 2015: Display ads for The Locator Magazine.

  • October 1 2015: The Locator Magazine goes to press.

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