Genstar Capital to Acquire Majority Stake in Global Automotive Technology Provider OEConnection from Providence Equity

August 2, 2019

Willkie represented Genstar in the transaction.

On August 1, OEConnection (OEC), a leading global automotive technology provider for original equipment manufacturer distribution networks, Genstar Capital and Providence Equity Partners announced a definitive agreement under which Genstar will acquire a majority stake in OEC from funds advised by Providence. As part of the transaction, current investors Ford Motor Company and General Motors will each retain their minority investments in OEC. Willkie represented Genstar in its acquisition of the majority stake in OEC.

OEC was founded in 2000 as a partnership between several original equipment manufacturers, including Ford and General Motors, to provide technology solutions to facilitate the sale of original equipment replacement parts between automakers and franchised dealers and their wholesale customers. Today, OEC is a leading provider of software solutions and data to the original equipment parts industry and is one of the industry's only end-to-end comprehensive platforms, serving more than 30,000 auto dealers globally, 36 global OEM brands and more than 135,000 global auto repairers.

With approximately $17 billion in assets under management, Genstar Capital is a San Francisco-based private equity firm focused on targeted segments of the financial services, healthcare, industrial technology and software industries. Providence is a premier global asset management firm that has invested in more than 180 companies, focused on the media, communications, education and information industries.

The Willkie team was led by partners Jeffrey Poss and Manuel Miranda and included associates Maryam Naghavi, Erin Kinney and Thomas Sharkey.