Solera to acquire PS Holdings
July 12, 2012—Solera Holdings Inc. has signed a definitive agreement to acquire the assets of PS Holdings, whose services are sold under the APU brand name, to enhance the company’s parts locating capabilities.
APU is a cloud-based locator of recycled, aftermarket, reconditioned and surplus original equipment (OE) parts for the automotive repair industry, Solera said. APU, which has a customer base primarily comprised of insurance carriers, sources parts from a network of automotive recyclers, parts distributors, dealers and manufacturers.
The acquisition is expected to close during the first quarter of Solera's 2013 fiscal year.
"This acquisition will be an important milestone in our ongoing effort to provide our customers with software applications and decision support tools that facilitate electronic vehicle parts trading. APU links the demand for parts channeled through our core estimatics with the supply of parts in the collision repair chain, driving additional value to our customers," said Tony Aquila, founder, chairman and CEO of Solera. "APU will build on and extend the part procurement capabilities we deliver through our Audatex and Hollander businesses in the U.S. and abroad. Because of this, we are excited about the opportunities to leverage APU solutions outside the U.S. to help insurers effectively manage their part costs."