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HDA Parts System, Inc. Acquires VantageParts

22 June 1999

HDA Parts System, Inc. Acquires VantageParts

    DEERFIELD, Ill.--June 22, 1999--HDA Parts System, Inc. ("HDAPS"), a national distributor of heavy-duty aftermarket truck parts, today announced the acquisition of the assets and operations of VantageParts ("Vantage") based in Portland, OR. Vantage, which is also a distributor of heavy-duty aftermarket truck parts, has locations in California, Georgia, Illinois, Missouri, Nevada, Oregon, and Washington. Vantage was acquired from CNF Transportation Inc., based in Palo Alto, CA. Over the past year HDAPS has acquired 11 heavy-duty truck parts distributors and now has 93 locations nationwide.
    John J. Greisch, President and CEO of HDAPS, said of the acquisition, "Vantage is an excellent addition to HDAPS. Their strong national market position together with their experienced management team strengthen our capabilities in pursuit of our goal to become the largest and most customer-oriented independent heavy-duty aftermarket distributor. Vantage's experience in servicing several large national fleet customers combined with our extensive distribution capabilities are key strengths which will enhance our corporate growth strategy."
    HDAPS was formed in June of 1998 by the Los Angeles based private equity firm Brentwood Associates. HDAPS previously acquired some of the most successful independent heavy-duty aftermarket distributors in the industry. In addition to carrying a full line of brand name replacement parts, many HDAPS locations also offer limited drive-in truck repair, and in-house re-manufactured products such as brake shoes, transmissions, rear axles, and driveline components.

    Comments in this release contain forward-looking statements, which are based on management's good faith expectations and beliefs concerning future developments. Actual results may materially differ from these expectations as a result of many factors including HDAPS' ability to integrate the already acquired businesses, including Vantage, and execute its strategy of forming a nationwide source for heavy-duty aftermarket parts.