August 9, 2023
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the merger of Original One Parts, LLC (“Original One” or “O1”), a portfolio company of Kinderhook, with Performance Depot, LLC dba Headlights Depot (“Headlights Depot” or “HD”) in partnership with management. Headlights Depot is a leading provider of new aftermarket automotive lights to collision shops and direct-to-consumer. Headlights Depot represents Original One’s third add-on acquisition under Kinderhook’s ownership. Financial terms of the transaction were not disclosed.
Headlights Depot is a Pompano Beach, Florida based distributor of new aftermarket automotive lights. With its nine strategically located distribution centers supplying both business and consumer customers, Headlights Depot adds to Original One’s capability to deliver a robust product line of reconditioned, recycled and aftermarket headlights and taillights to both collision professionals and consumers anywhere in the U.S. quickly and affordably. Headlights Depot’s owners Eric and Jay Tannenbaum will both continue working with the newly merged business.
“The automotive headlight industry continues to grow and change, and we’re very excited for this latest chapter in the evolution of Original One, which will enable us to remain at the forefront of that change,” said Malcolm Winspear, CEO of Original One. “Our combination with Headlights Depot will create one of the industry’s largest businesses focused entirely on OE-alternative automotive lighting. Headlights Depot already has a long and successful history, and we look forward to welcoming Eric, Jay, and their entire team.”
“We are thrilled to be joining forces with Original One” said Jay Tannenbaum, CEO of Headlights Depot. “We see enormous potential for growth in the automotive lighting segment of the industry and plan to expand our footprint in e-commerce, aftermarket, and body shops. Our goal is to go from ‘good to great’ with the support of Kinderhook and our newly combined team.”
Paul Cifelli, Managing Director at Kinderhook, said, “We are incredibly excited to have Headlights Depot join forces with Original One. The combination of the businesses creates a national footprint and a comprehensive OE-alternative automotive lighting product portfolio to better serve the needs of a diverse set of customers.”
Fredrikson & Byron P.A. served as legal counsel to Kinderhook for the transaction. Schwartz Advisors served as financial advisor to Headlights Depot for the transaction. Financing for the transaction was provided by Comerica Bank.