GVW Acquires a Portion of TransCom

    HIGHLAND PARK, Ill.--Nov. 15, 2001--In a move to further support the specialty commercial market, Grand Vehicle Works Holdings, LLC (GVW) has acquired a portion of the parts distribution business from Transportation Components, Inc. (TransCom).
    The new company formed as a result of this transaction is named UpTime Parts, LLC, reflecting the company's mission to provide responsive service that will maximize the road time of the fleet customer.
    GVW completed the purchase agreement for this segment of TransCom's business Friday, Nov. 9. It acquired call center operations in Fort Worth, Texas, and Fremont, Calif., as well as warehouse operations in Reno, Nev., and Memphis, Tenn. UpTime Parts is in full operation today. It expects to move the Memphis warehouse operations to the Chicago area in the next 60 days. This location will also serve as its corporate headquarters.
    "This segment of TransCom's parts business nicely complements our current expertise with niche commercial products," said Andrew Taitz, chairman and CEO of GVW. "We value their focused, responsive approach to customers, as it is closely aligned with our approach."
    Other GVW subsidiaries include Union City Body Company and Workhorse Custom Chassis. UCBC supplies walk-in bodies and Workhorse manufactures walk-in truck chassis and motor home chassis and supplies integrated walk-in trucks. The part of TransCom's business purchased by GVW to form UpTime Parts sells parts for walk-in trucks directly to national fleets such as UPS, Frito-Lay, FedEx and U-Haul.
    Workhorse, formed in 1999 to acquire General Motors' P-Chassis operations, has thrived as a company solely dedicated to the walk-in truck and motor home chassis business. Similarly, GVW recently formed Autocar to acquire the Xpeditor(R) line of Class 8 Low Cab Over Engine trucks from Volvo Trucks of North America Inc.
    "We've had great success in bringing extra value and service to specific market niches because all of GVW's companies are 100 percent focused on those niches. Customers get the attention they can't get from larger companies that have multiple interests. They can count on us to be responsive to their needs," said Taitz.
    Two former TransCom executives will continue as leaders of UpTime Parts. David Olsen will serve as President and Jim Lockie will be Vice President of Sales. "We were impressed with the management of this segment of TransCom's business," said Taitz. "So we are pleased to have both David and Jim leading our efforts with UpTime. Customers should experience a very smooth transition with them on board."
    "Quality parts at competitive prices and excellent fill rates are all part of the superior service we are in business to provide," affirmed Olsen. "Fleets need maximum road time, minimum downtime. That means the right parts must be available when and where they are needed at all times. That's what our name stands for, and it is the total mission of UpTime Parts."
    Olsen said there will be no interruption in service and customers can continue to call the same numbers to place orders.