Francisco Partners acquires majority stake in OEConnection from Genstar Capital

Francisco Partners has agreed to acquire OEConnection LLC from Genstar Capital. Financial terms were not disclosed. 

Founded in 2000 as a partnership among original equipment manufacturers, including Ford and General Motors, OEConnection provides technology solutions that facilitate the sale of original equipment replacement parts between automakers, franchised dealers, and wholesale customers. The platform now powers connections across a broad automotive aftersales network serving OEMs, repair shops, and aftermarket suppliers. 

OEConnection operates across six countries, employing 1,500 staff and serving 45 manufacturers, 30,000 auto dealers, and 135,000 wholesale customers. The transaction maintains Ford and General Motors as minority investors alongside Genstar. 

"Joining forces with Francisco Partners positions OEC to build on our strong momentum and further strengthen the value we deliver to our customers and partners," said Patrick Brown, CEO of OEC. "Our transformative partnership with Genstar has enabled us to significantly expand our offerings in collision and mechanical repair, accelerate innovation, and grow our network globally. We are pleased that Genstar, Ford, and General Motors will remain minority investors as we enter this next chapter. With Francisco Partners' support, we look forward to continuing to deliver industry-leading solutions and improving repair outcomes for all stakeholders in the automotive aftersales ecosystem." 

Petri Oksanen, partner at Francisco Partners, said the company's vision of "eliminating the pain in the vehicle repair process" resonates strongly. "As the industry undergoes a generational and technological shift, OEC is uniquely positioned as a trusted partner that can deliver greater connectivity, efficiency, and profitability across the ecosystem," Oksanen said. "We are thrilled to welcome OEC to the portfolio and excited to support Patrick and his strong team in this next chapter of growth with additional resources." 

Eli Weiss, managing partner of Genstar, said the firm has been pleased with OEC's growth during its ownership period. "We are excited to remain a minority shareholder and are confident that under Francisco Partners' ownership, OEC is well positioned for continued growth and success," Weiss said. 

Evercore is serving as the exclusive financial advisor, and Ropes and Gray LLP is serving as legal advisor to Genstar. Citi and TD Securities are serving as financial advisors, and Paul Hastings LLP is serving as legal advisor to Francisco Partners.