Bahrain-based Investcorp has announced the acquisition of KSI Trading Corp (KSI), a supplier of aftermarket auto body parts in the US.
Founded in 1984, KSI services over 10,000 collision repair shop customers across 25 locations in 14 US states and employs more than 600 employees.
The terms of the transaction were not disclosed, Investcorp said in a statement.
“We are excited to partner with KSI, as they have proven their ability to execute through various market cycles,” said Mohammed Al-Shroogi, Investcorp’s co-CEO.
“We have been extremely impressed with the quality and dedication of the KSI employees who have built this company. We look forward to working with the KSI team and we are confident in the company’s ability to continue to deliver results, increase market share and accelerate growth over the long term.”
Christopher Patti, KSI’s newly appointed CEO, added: “With Investcorp as a partner, KSI is well-positioned to continue to deliver both strong growth and exceptional customer service.”
Investcorp said it has a strong history of investments in the automotive and related markets and intends to grow KSI geographically, through the opening of greenfield locations, pursuing acquisitions and establishing stronger relationships with insurance companies and multi-shop operators.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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