December 17, 2020
New York, NY – Original One Parts, LLC (“Original One Parts”), a portfolio company of Kinderhook Industries, LLC (“Kinderhook”), announced today the acquisition of PartCycle Technologies, LLC (“PartCycle” or the “Company”). PartCycle is an e-commerce marketplace for quality recycled original equipment manufacturer (“OEM”) automotive parts. The Company represents the first add-on acquisition for Original One Parts and Kinderhook’s 94th automotive-related transaction. Financial terms of the transaction were not disclosed.
Paul Cifelli, Managing Director at Kinderhook, stated, “Kinderhook is delighted that Original One Parts has executed its first add-on acquisition with PartCycle. PartCycle enables Original One Parts to expand its online presence through an established e-commerce platform and provides a new distribution outlet for Original One’s Recycled Plus line of products.”
“Original One Parts plans to leverage PartCycle’s platform as a full-service e-commerce solution for our full line of products,” said Wade Hilburn, CEO of Original One Parts. “PartCycle will immediately enhance Original One’s technology capabilities, as well as expand our parts procurement and recycler relationships.”
PartCycle Technology President Ryan Anderson and his entire team will be joining the Original One Parts team.
“We are very excited to join forces with Original One Parts and Kinderhook Industries,” said Anderson. “Our technology and years of industry experience within the management team puts us in a unique position to have an immediate positive impact on the Original One Parts certified parts program.”
Jerry Sullivan, Executive Chairman of Original One Parts added “PartCycle’s strong relationships with licensed recyclers will also enable Original One Parts to vastly expand its parts purchasing which will be a big boost for recyclers.”
Monroe Moxness Berg PA served as legal counsel to Original One Parts.