The Rochester, N.Y.-based Hahn Automotive Warehouse, Inc., and the Glendale, N.Y.-based Prime Automotive Parts Co., Inc., recently announced that they have signed a definitive agreement for Hahn to acquire Prime. Both Hahn and Prime are warehouse distributors of aftermarket automotive parts. Prime's President, Robert Scheer, will continue to manage and oversee Prime's daily operations following the completion of the transaction. Terms of the transaction, which is expected to close on October 1, were not disclosed. Hahn's Co-Presidents and Chief Executive Officers Daniel J. Chessin and Eli N. Futerman both expressed their pleasure with the acquisition, stating: "We welcome Bobby Scheer and the entire Prime Automotive team to the Hahn family. Prime is a well-managed company with a commitment to growth and customer service. Our proven track record in the automotive aftermarket parts business spans over five decades." Founded in 1953 by the Scheer family, Prime is a warehouse distributor of aftermarket automotive parts with 21 locations in the tri-state area of New York, New Jersey and Connecticut. Prime distributes leading aftermarket automotive parts, including Standard Motor Products, Federal Mogul, Affinia, Tenneco and Cardone products. Hahn and Prime are both members of the Aftermarket Auto Parts Alliance, Inc., a leading international buying and marketing association. "I am pleased to be joining Hahn and to continue with the business of the combined Hahn-Prime entity," says Prime Automotive's President and CEO Bobby Scheer. "This combination provides significant opportunities for both our customers and employees going forward." |
