Minneapolis-based private equity firm ShoreView Industries agreed to merge portfolio company Twinco Romax LLC, a manufacturer of automotive aftermarket parts and chemicals, with DYK Automotive LLC.
Twinco Romax LLC and DYK Automotive, LLC, the parent company of AP Auto and Keltner Enterprises, have announced a definitive merger agreement. The merger, which combines two of the strongest organizations in the industry, creates a new national automotive aftermarket distribution and manufacturing company with a commitment to maintain its strong regional presence.
The various operating divisions that are part of the new organization will continue to serve their respective customers and channels with no significant changes.
Don Youngblood, currently CEO of DYK Automotive, will become chairman of the company with a focus on strategic initiatives and opportunities for the company. Dan Ribnick, currently CEO of Twinco Romax, will become the CEO of the company and will responsible for the combined entity’s operations. The company’s new executive team has over 200 years of combined experience in the industry and the expertise to create a national leader in the distribution and manufacturing of retail automotive aftermarket products.
The company will stock over 400 brands across seven manufacturing and distribution facilities with almost 800,000 square feet of space. The distribution centers will service customers in 50 states as well a large international business.
In commenting on the merger, Youngblood said, “The combined entity will continue to operate the companies much as they are today. The addition of Twinco Romax’s manufacturing capabilities and the addition of significant product lines will greatly enhance our ability to provide greater value and broader choice to our customers.”
Ribnick noted that the national footprint gives the new company seven locations and the largest fleet of tractor trailer delivery trucks in the business. “The merger makes a lot of sense,” says Ribnick. “Both of these companies have experienced tremendous growth over the past few years. We expect continued growth by adding additional product lines, locations and channels over the coming years.”