KSI Auto Parts to Acquire Richmond Bumper

Acquisition Is Expected to Expand KSI’s Distribution Capabilities,
Broaden Its Insurance Relationships, and Increase Its MSO Presence

SOUTH PLAINFIELD, N.J.–(BUSINESS WIRE)–KSI Trading Corp. (“KSI”), an industry-leading distributor of quality
replacement auto body parts servicing over 20,000 repair shop customers
across 25 locations in 14 states, today announced that it has signed a
definitive agreement to acquire Richmond Tidewater Bumper (“RTB”).

Based in Mechanicsville, VA, Richmond Tidewater Bumper has built a
stellar reputation since its founding in 1980 by Norman Seay through
servicing body shops with high-quality parts and superior customer
service. KSI’s business will be greatly enhanced by RTB’s 200,000 square
foot distribution facility, which provides unparalleled access to
markets in coastal Virginia as well as in North Carolina. Additionally,
the acquisition of RTB will provide KSI with an increased presence with
multi-shop operators (MSOs) and insurance companies.

Christopher Patti, Chief Executive Officer of KSI, commented, “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.

“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.”

Earlier this year, KSI was acquired by Investcorp, a global provider and
manager of alternative investment products with a history of investing
in automotive and related markets. Steve Miller, Managing Director of
Investcorp’s Private Equity group in North America, commented, “We are
thrilled to see KSI executing on its growth plan by acquiring RTB, a
high-quality company within the segment, and we look forward to seeing
KSI continue to grow geographically and establish stronger relationships
with insurance companies and MSOs.

Richmond Tidewater Bumper will operate under the Richmond Tidewater
Bumper, a KSI Auto Parts Company, name for a limited period, at which
time, it will transition to KSI Auto Parts. KSI is keeping all existing
RTB locations and its customers will continue to be serviced primarily
out of the Mechanicsville location. The acquisition brings KSI’s total
headcount to approximately 700 employees.

About KSI Trading Corp.

Founded in 1984, KSI is an industry-leading distributor of quality
replacement auto body parts servicing over 20,000 collision repair shop
customers across 25 locations in 14 states. In addition to top quality
products, KSI has succeeded in providing superior customer service,
rapid order turnaround and competitive pricing over the last three
decades. Headquartered in South Plainfield, New Jersey, KSI has over 600
employees across the U.S. For more information regarding KSI, visit www.ksiautoparts.com.

About Richmond Tidewater Bumper

Richmond Tidewater Bumper is an Aftermarket Automotive Crash-Parts
wholesaler. RTB has been locally-owned and operated out of
Mechanicsville, Virginia since its founding by Norman Seay in 1980. As a
wholesaler, RTB provides high-quality, OEM-look-alike crash parts to
body and paint shops at a lower cost than purchasing from the dealer,
resulting in its customers receiving the best possible value for the
best possible parts available on the market today. RTB carries over
23,000 different parts, most available for same- or next-day shipping.
For more information about Richmond Tidewater Bumper, visit www.richmondbumper.com.

Contacts

Media:
For KSI Trading Corp.
Phil Denning, 646-277-1258
phil.denning@icrinc.com

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