Tecum Capital has invested in Automotive Systems Warehouse, LLC, a wholesale warehouse distributor of automotive paint, body, and equipment products. The investment represents Tecum’s first platform investment out of its new $300 million SBIC fund, Tecum Capital Partners III, L.P. Tecum led a group of co-investors including Siguler Guff & Company, LP, Centerfield Capital Partners, and UMB Family Wealth to provide subordinated debt and equity and partnered with local investors and ASW’s senior management team to acquire the company. Confluence Advisors served as the exclusive financial advisor to the Investor Group. ASW’s senior management team is led by CEO Rodney King, who will continue to run the company with a focus on growth while providing industry-leading customer service. The financial terms of the transaction were not disclosed.
Founded in 1978 and headquartered in Pittsburgh, PA, ASW is a wholesale warehouse distributor of automotive allied products to the collision repair value chain. The Company, through its five strategically located warehouses, consolidates 300+ core vendors to offer tens of thousands of unique products, including key automotive product categories such as paint & coatings, abrasives, tools & equipment, tape, painting cups & filters, and primer. ASW is recognized as a market leader in the distribution of collision repair products by offering valued customer service, wide geographic coverage, and a comprehensive product offering.
First Commonwealth Bank provided senior debt financing. Clark Hill and Metz Lewis provided legal services to the Investor Group. ASW was represented by Houston Harbaugh.