The boss of General Parts Group insists that its sale to PT Holdings, the owner of Parts Town, will create new growth opportunities for the business.
Gary Schermann, who with Linnea Chrest will continue to lead the team going forward, believes it will flourish under its new ownership.
General Parts Group was founded in 1939 and specialises in commercial kitchen equipment repair services.
The Bloomington, Minnesota-based outfit has grown to be a distributor of OEM parts and provides service for over 60,000 customers and 400 manufacturers of commercial foodservice equipment.
Following the takeover, it will operate under the General Parts brand and will run as a separate and distinct company within PT Holdings.
Schermann said: “We are excited to become part of this great group of companies. We have gotten to know the PT Holdings Group over many years and always appreciated the customer service, integrity, and partnership that the organization exemplifies.
“We are looking forward to the next chapter of General Parts and the opportunities that this combination will bring to our team, our manufacturers, and our customers.”
Steve Snower, CEO of PT Holdings, said: “General Parts has all of the attributes we look for in a business: high integrity, strong OEM parts distribution, great leadership, a fantastic brand, and deep manufacturer relationships.
“We have been huge fans of Gary, Linnea, and the General Parts team for a very long time. Bruce Hodge, previous President of General Parts, was a mentor to me, and we are thrilled to have General Parts join the PT Holdings.”