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OEC Has Been Acquired by Providence Equity

Friday, July 8, 2016


William Blair acted as the exclusive financial advisor to OEConnection LLC, or OEC, a joint venture of Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM), in connection with its majority investment from Providence Equity Partners. GM and Ford will maintain a significant minority stake in the company. The transaction closed June 23, 2016.

Transaction Highlights

  • Trusted guidance: William Blair’s senior deal team was integrally involved in each step of the transaction process, providing valuable guidance to OEC’s management, Ford and GM.
  • Execution excellence: William Blair constructed and managed an extremely competitive and highly efficient custom process to find the right partner for Ford and GM in its investment in OEC.
  • Continued momentum in software M&A: William Blair has completed more than 20 software M&A transactions in the past 18 months, representing more than $7 billion in total transaction value. OEC represents the fifth software M&A transaction signed and/or closed year-to-date. 

About the Companies

OEC is the leading parts ecommerce technology provider for OEM distribution networks, serving over 20 OEMs and 100,000 dealership and repair customers. Customers use OEC solutions millions of times each month to access real-time, dynamic pricing and to market, manage and move original equipment parts, facilitating an estimated $20 billion in annual replacement parts trade. The company is headquartered in the greater Cleveland area.

Ford Motor Company is a global automotive and mobility company based in Dearborn, Michigan. With about 201,000 employees and 67 plants worldwide, the company’s core business includes designing, manufacturing, marketing, financing and servicing a full line of Ford cars, trucks, SUVs and electrified vehicles, as well as Lincoln luxury vehicles. At the same time, Ford is aggressively pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience and data and analytics. The company provides financial services through Ford Motor Credit Company.

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands.

Providence is a premier, global asset management firm with $45 billion in assets under management across complementary private equity and credit businesses. Providence pioneered a sector focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI and also has offices in New York, London, Hong Kong, Singapore and New Delhi.

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