Francisco Partners, a leading global investment firm known for partnering with technology-driven businesses, has announced its agreement to acquire OEConnection LLC (OEC), a prominent end-to-end digital platform serving the automotive aftersales ecosystem. The acquisition is being made from Genstar Capital, a private equity firm specializing in software, financial services, industrials, and healthcare. While the financial details of the transaction remain undisclosed, the move marks a significant step in OEC’s growth journey.
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Founded in 2000 as a collaboration between major automakers such as Ford and General Motors, OEC was created to streamline the sale of original equipment replacement parts between automakers, franchised dealers, and wholesale customers. Over the years, the company has evolved into a critical digital infrastructure provider, connecting OEMs, repair shops, and aftermarket suppliers across the global automotive industry. Its suite of solutions facilitates seamless collaboration throughout the vehicle repair lifecycle ensuring efficiency, quality, and speed in delivering repairs to vehicle owners. With a strong international presence across six countries, 1,500 employees, and a vast customer network comprising 45 manufacturers, 30,000 auto dealers, and 135,000 wholesale customers, OEC has solidified its position as a trusted partner driving innovation and operational excellence in the automotive sector.
Patrick Brown, CEO of OEC, expressed optimism about the company’s future under Francisco Partners. “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,” Brown said. He highlighted the company’s transformative journey with Genstar, which helped expand OEC’s offerings in collision and mechanical repair, accelerate innovation, and extend its global footprint. He added that Genstar, along with Ford and General Motors, will remain minority investors, ensuring continuity as OEC enters its next phase of growth.
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Representatives from Francisco Partners, including Partner Petri Oksanen, and Partners Christine Wang and Mac Fountain, emphasized their enthusiasm for the acquisition. “OEC’s vision of eliminating the pain in the vehicle repair process resonates strongly with us,” Oksanen noted. “As the industry experiences a generational and technological transformation, OEC stands out as a trusted partner capable of delivering greater connectivity, efficiency, and profitability across the entire ecosystem.”
Eli Weiss, Managing Partner at Genstar, also commented on the partnership’s success, acknowledging OEC’s impressive expansion and innovation during Genstar’s ownership. “We are excited to remain a minority shareholder and are confident that under Francisco Partners’ leadership, OEC is well positioned for continued growth and success,” Weiss said.
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Evercore acted as the exclusive financial advisor to Genstar, with Ropes and Gray LLP serving as its legal advisor. Francisco Partners was advised by Citi and TD Securities on the financial front, while Paul Hastings LLP provided legal counsel.
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