Francisco Partners has agreed to acquire a majority stake in OEConnection, a global technology platform that supports the automotive aftersales ecosystem. The stake is being purchased from Genstar Capital. Genstar, along with Ford and General Motors, will remain minority investors. Financial terms were not disclosed.
OEConnection was founded in 2000 by several major original equipment manufacturers, including Ford and General Motors, to enhance the sale and distribution of original equipment parts between automakers, dealers, and wholesale buyers. The company has since expanded to support a broader ecosystem that includes OEMs, repair facilities, insurers, and aftermarket suppliers. Its technology promotes collaboration throughout the repair lifecycle and enables more efficient vehicle service experiences.
The company maintains operations across six countries and employs approximately 1,500 people. Its customer base includes 45 automotive manufacturers, 30,000 dealerships, and 135,000 wholesale customers.
Under Genstar’s ownership period, OEC expanded into collision and mechanical repair, increased its innovation pipeline, and grew its global presence. With Francisco Partners’ investment, OEC plans to advance further its solutions and capabilities to improve repair workflow efficiency and value delivery to customers across the automotive aftersales market.
Advisors/counsel: Evercore served as exclusive financial advisor, and Ropes and Gray LLP served as legal advisor to Genstar. Citi and TD Securities served as financial advisors and Paul Hastings LLP served as legal advisor to Francisco Partners.
KEY QUOTES:
“Joining forces with Francisco Partners positions OEC to build on our strong momentum and further strengthen the value we deliver to our customers and partners. Our transformative partnership with Genstar has enabled us to significantly expand our offerings in collision and mechanical repair, accelerate innovation, and grow our network globally. We are pleased that Genstar, Ford, and General Motors will remain minority investors as we enter this next chapter. With Francisco Partners’ support, we look forward to continuing to deliver industry leading solutions and improving repair outcomes for all stakeholders in the automotive aftersales ecosystem.”
Patrick Brown, CEO of OEC
“OEC’s vision of ‘eliminating the pain in the vehicle repair process’ resonates strongly with us. As the industry undergoes a generational and technological shift, OEC is uniquely positioned as a trusted partner that can deliver greater connectivity, efficiency, and profitability across the ecosystem.”
Petri Oksanen, Partner at Francisco Partners
“We are thrilled to welcome OEC to the portfolio and excited to support Patrick and his strong team in this next chapter of growth with additional resources.”
Christine Wang, Partner, and Mac Fountain, Principal, at Francisco Partners
“It has been a pleasure working with Patrick and the OEC management team as they have significantly grown OEC over our ownership period. We are excited to remain a minority shareholder and are confident that under Francisco Partners’ ownership, OEC is well positioned for continued growth and success.”
Eli Weiss, Managing Partner of Genstar
