Fred Jones deal expands distribution network
Oklahoma City-based Hall Capital said Wednesday that its automotive affiliate, The Fred Jones Cos., closed a deal that will expand its distribution network across much of the southern United States.
Assets acquired from Tracy Industries, a parts distribution company that services Ford and Fiat Chrysler Automobiles dealers, will be added to The Fred Jones Cos.’ existing automotive parts distribution business, Fred Jones Enterprises. Terms of the deal were not disclosed.
The acquisition includes distribution rights, inventory, equipment, employees and warehouses in Los Angeles, Phoenix and Las Vegas.
In 2015, the Tracy Industries’ Ford assets generated $63 million in sales to about 270, dealers, while the Tracy Industries Fiat Chrysler assets generated $26 million in sales to about 600 dealers.
Fred Jones Enterprises will take over Tracy’s Fiat Chrysler parts distribution business in the same geographic areas, as well as the Fiat Chrysler distribution rights in states currently serviced by Fred Jones Enterprises.
The company said the deal provides Fred Jones Enterprises access to West Coast markets and expands its distribution territory to almost the entire southern U.S.
“Tracy Industries is a longrunning family owned operation much like Fred Jones Enterprises, and we welcome the Tracy personnel to the Fred Jones and Hall Capital family,” said Fred J. Hall, chairman and CEO of Hall Capital. “We are excited to be able to expand our services to Ford and Fiat Chrysler Automobiles dealers on the West Coast while also adding Fiat Chrysler Automobiles dealers to our existing south-central and southeastern territories.”
Tracy Industries simultaneously sold other assets in Northern California, northern Utah and Hawaii to another party.
The Fred Jones Cos. is the automotive affiliate of Hall Capital. Fred Jones Enterprises, part of the portfolio of The Fred Jones Cos., is a Ford-authorized distributor of Ford remanufactured powertrain and Motorcraft powertrain assemblies providing distribution across most of the south-central and southeastern U.S.
Hall Capital is a family-owned private investment company with offices in Oklahoma City, Nashville, Chicago and Dallas. Its roots extend back to legendary automotive pioneer Fred Jones’ first enterprise in 1920.