U.S. Auto Parts Completes Acquisition of the Whitney Automotive Group, One of the Nation's Largest, Most Trusted Online Auto Parts Retailers (Oh How The Mighty Have Fallen)

Editors Note: In January 2000 I made three presentation to the (mis)management of the then largest and hottest auto parts seller on the web. With almost 100 years of auto parts catalog sales J.C. Whitney had the potential to "own" the e-commerce of auto parts.

The Auto Channel recognized this massive opportunity and presented Whitney the opportunity to partner with us to begin to build ownership of the on-line parts space, by providing them with a popular platform from which to start to dominate on-line sales just as they had dominated the catalog business for 80 years...alas their management just didn't get it. They believed they knew it all, and here they are 10 years later and an upstart, U.S. Auto Parts, has bought out the former big boy. I guess that's the way it goes...no nothings can destroy a 100 year old company, and they did.

If you would like to see the presentations made to J.C. Whitney just e me, bgordon@theautochannel.com I will be happy to share.

CARSON, CA - August 17, 2010: U.S. Auto Parts, an online providers of automotive aftermarket parts and accessories, today announced that it has completed the acquisition of the Whitney Automotive Group for the purchase price of $27.5 million and assumption of approximately $11 million in trade-related and other payables. Whitney Automotive Group is expected to have $110 - $120 million in revenues under U.S. Auto Parts ownership in 2011. Silicon Valley Bank has provided the Company with acquisition financing totaling $35 million.

About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is an online provider of automotive aftermarket parts, including body parts, engine parts, performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites are located at www.autopartswarehouse.com, www.partstrain.com and www.automd.com and the Company's corporate website is located at www.usautoparts.net.

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