Auto Body Toolmart sold to Strategic Buyer

Stevenson completes sale of Auto Body Toolmart

Result:    Business Sold to Strategic Buyer

Industry: Distribution — Catalog & Internet Distributor of Auto Body Shop Products

Auto Body Toolmart has been sold to Whitewater Brands, a portfolio company of Rock Gate Partners and Peninsula Capital Partners. Stevenson & Company was the exclusive sale advisor to Auto Body Toolmart.

Auto Body Toolmart, located in Elgin, Illinois, is a manufacturer and distributor of tools, equipment and supplies to auto body repair shops, technical schools and automotive enthusiasts. The Company, which was originally formed in 1981 as Champ Frame Equipment located in California, currently offers over 23,000 products sold via its catalog and internet to over 150,000 customers.

Whitewater Brands (www.whitewaterbrands.com), consists of four businesses primarily serving automotive collision and mechanical repair operations, as well as new and used automotive dealers.  The Whitewater businesses include: Collision Services based in Hudson, Iowa, I/D/E/A and Sole Source, both based in Caldwell Idaho, and Sid Savage based in Taylor, Michigan.

“Auto Body Toolmart is a great fit for Whitewater, both in terms of product and distribution,” stated Steve Foutch, of Rock Gate Partners. “Auto Body Toolmart offers access to a number of new product lines as well as to its own line of manufactured products under the Champ brand. Overall, we are able to service a broader group of customers with an expanded line of products while, most importantly, better servicing our existing customers.”

Matt Dorfman, President of Auto Body Toolmart, remarked “We are excited about this business combination. It dramatically increases the size of the business and brings new opportunities for our company and employees. The Stevenson team was tenacious in driving this transaction to a successful close. The result was a win-win outcome for all parties.”