Goldsmith Agio Helms Announces the Sale of Midwest Auto Parts Distributors to O'Reilly Automotive.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Goldsmith Agio AGIO, aggio. This term is used to denote the difference of price between the value of bank notes and nominal money, and the coin of the country. Encyc. Helms is pleased to announce the completed sale of its client, W.E. Lahr Company and its subsidiary Midwest Auto Parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minnesota, a leading supplier of automotive parts and accessories, to O'Reilly Automotive, Inc. ("O'Reilly"), a Missouri based auto parts chain. O'Reilly is one of the top five auto parts chains in the country. David Solomon, Managing Director and Partner, stated, "Of all the potential owners of this company, O'Reilly makes the most sense due to its compatibility with Midwest's dual market strategy, selling to both the retail trade and professional service providers." HIGHLIGHTS FROM THE TRANSACTION O'Reilly (Nasdaq:ORLY Orly (ôrlē`), city (1990 pop. 21,824), Val-de-Marne dept., N central France, a suburb SE of Paris. It is the site of Orly airport, which with Charles de Gaulle is one of the two chief airports of Paris. ) purchased all of the outstanding stock of Midwest for $61 million in cash. Greg Henslee, Chief Executive Officer of O'Reilly, stated: "We are very excited about the growth opportunities and the great new markets that the acquisition of Midwest will bring. We view Midwest as a good fit both geographically and operationally." Ted Wise, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. stated: "Not only will we be adding 71 new stores in 5 new states, but we will also be welcoming nearly 700 Midwest team members to Team O'Reilly, where their knowledge and customer relationships will be a key to our success in those markets. In addition we are excited about the opportunity to continue serving the needs of the 108 independent jobber A merchant, middle person, or wholesaler who purchases goods from a manufacturer in lots or bulk and resells the goods to a consumer, or to a retailer, who then sells them to a consumer. One who buys and sells on the stock exchange or who deals in stocks, shares, and Securities. customers currently served by Midwest." Jim Bartholomew, interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Midwest and a principal with Lighthouse Management Group, Inc. stated: "We believe the synergistic benefits of this combination will greatly enhance our program offering to our customers and provide expanded growth opportunities for our employees. Midwest's owner, Bill Lahr, passed away last fall. Bill had great respect for the O'Reilly family and their business model, and had Midwest adopt many of their strategies." O'Reilly will add approximately 160 new stores for 2005, in addition to the 71 new stores from the Midwest acquisition. The company anticipates this transaction to be accretive to earnings for 2005. Further guidance will be given following the closing of the transaction. Advisors to Midwest include Goldsmith Agio Helms, investment banking; Lighthouse Management Group, management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and interim management; and Leonard, Street and Deinard, PA, legal counsel. Advisor to O'Reilly was Greensfelder, Hemker & Gale PC. THE COMPANY Midwest Auto (www.mwapd.com) operates 71 stores in Minnesota, Montana, South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). , Wisconsin and Wyoming that receive nightly delivery from one of their distribution centers located in St. Paul, Minnesota, and Billings, Montana. Midwest recorded $98.7 million in sales for the fiscal year ending September 30, 2004. W.E. Lahr Company has been in business for 70 years as a major warehouse distributor, local jobber and retailer of automotive aftermarket parts. With this acquisition, Midwest's current operations will be a complement to O'Reilly's already successful dual market strategy and expand O'Reilly's presence to twenty-four contiguous states. THE BUYER O'Reilly (www.oreillyauto.com) is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , serving both the do-it-yourself and professional installer markets. Founded in 1957 by the O'Reilly family, the Company operated 1,286 stores within the states of Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Oklahoma, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Tennessee, Texas and Virginia as of March 31, 2005. ABOUT GOLDSMITH AGIO HELMS Goldsmith Agio Helms (www.agio.com) is one of the nation's leading investment banking firms providing financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to middle market businesses. The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring, and valuations and fairness opinions. The firm operates internationally from its offices in Minneapolis, New York, Chicago, Los Angeles, and London. ABOUT LIGHTHOUSE MANAGEMENT GROUP Lighthouse Management Group, Inc. is a Minneapolis-based management consulting firm specializing in interim and crisis management. In addition to management services during the sale of company, Lighthouse also provides turnaround and crisis management, liquidation or asset disposition as well as advising companies in the sale or purchase of distressed companies. Jim Bartholomew is the President of Lighthouse and a board member of Midwest Auto Parts Distributor. When Bill Lahr, the owner of Midwest Auto passed away last fall, Jim stepped in as acting CEO. Jim helped guide Midwest Auto, which was a fast growing and profitable company, through the sale process. ABOUT LEONARD, STREET AND DEINARD Leonard, Street and Deinard is Minnesota's third largest law firm, with offices in Minneapolis, Saint Paul, St. Cloud and Mankato, Minnesota, and in Washington, D.C. From its regional base, Leonard, Street and Deinard serves clients throughout the United States and internationally. The firm employs over 180 attorneys in more than thirty practice areas and, since its founding in 1922, has helped generations of clients achieve their business objectives through astute legal advice complemented by good common sense. To learn more about the Firm's tradition of exceptional service, visit Leonard, Street and Deinard's Web site at www.leonard.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion