KSI Trading Corp., a distributor of replacement auto body parts based in South Plainfield, announced it has agreed to acquire Richmond Tidewater Bumper.
RTB is based in Mechanicsville, Virginia, and services body shops with parts and service.
KSI said the acquisition of RTB’s 200,000-square-foot distribution facility will help it tap into the coastal Virginia and North Carolina markets. It will also provide KSI with an increased presense in multishop operators and insurance companies.
“Today is an exciting day at KSI Auto Parts as we announce our first acquisition and realize an important step in our long-term growth strategy. The combination of these two long-tenured businesses expands our delivery fleet and gives KSI a NSF Certified Distribution Center. The acquisition of RTB furthers our mission of becoming the second largest distributor of automotive aftermarket collision parts in North America,” Christopher Patti, CEO of KSI, said. “KSI’s new management team looks forward to continuing our aggressive plan to expand the business, both organically and via acquisitions, to provide options for, and exceptional service to body shops and insurance companies within every market. We continue to see opportunities to increase our market share and accelerate our long-term growth through similar acquisitions.”
RTB will operate under the Richmond Tidewater Bumper, a KSI Auto Parts Co., name for a limited time, at which it will transition to KSI Auto Parts. KSI said it plans to operate all existing RTB locations.
KSI will have approximately 700 employees after the deal has closed.
Financial terms were not disclosed.
