In yet another RV industry consolidation move, NTP Distribution Inc. parent Keystone Automotive Operations Inc. is acquiring Atlanta-based Stag-Parkway Inc., the nation’s largest distributor of RV aftermarket parts and accessories. “That’s confirmed,” Jane Donnelly marketing director for NTP, the country’s second largest distributor, told RVBUSINESS.com. “I believe the deal closed Friday.”
The news was spreading quickly today as a letter from NTP Vice President and General Manager Joe Santangelo to hundreds of dealers made the rounds. An official announcement was expected later today (Oct. 6). Stag-Parkway declined comment on the acquisition.
“The combination of NTP and Stag-Parkway brings together two leading companies in the RV space that are committed to delivering greater value to customers and suppliers while remaining focused on growing our combined businesses,” Santangelo said in the letter. “By integrating the very best of both companies we will take advantage of the industry leading processes that have been established and honed independently.”
Santangelo stressed that “for the time being it will be business as usual,” noting there would initially be limited changes during the transition. “We do think both companies had some different strengths and our goal is to combine the best of both worlds,” he said. “But in short, we believe our combined scale will increase fill rates and benefit everyone through access to a broader range of products.
“Initially,” he added, “there will be no changes to how you place orders, how your product is delivered, or how you receive or pay invoices. We will continue to operate as before until changes are announced.”
Santanlego reported that both the upcoming Stag Parkway show (Jan. 19-21, 2015, at the Mirage in Las Vegas) and NTP Expo (Feb. 3-5, 2015, at the Venetian/Sands in Las Vegas) will be held as planned. In addition, Stag Parkway and NTP 2015 catalogs will be produced and distributed as usual.
Keystone’s parent, LKQ Corp., has been on an acquisitive roll of late, having finalized the acquisition of Keystone for $450 million in the first quarter of 2014. And according to the company’s July 31 quarterly report, “Our 2014 acquisition of Keystone Automotive in our specialty segment is performing well and ahead of our expectations,” stated Robert L. Wagman, president and chief executive officer of LKQ.
In the second quarter alone, LKQ acquired 11 different companies, the quarterly filing with the U.S. Securities and Exchange Commission (SEC) indicates.