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CarParts.com To Acquire Precise Fuel Pumps To Accelerate Auto Parts Market Growth

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  • E-commerce auto parts company CarParts.Com Inc (NASDAQ: PRTSinked an agreement to acquire the complete Precise Fuel Delivery Systems inventory from an automotive aftermarket supplier, Premium Guard, for cash. The financial terms of the transaction were not disclosed.
  • CarParts.com and Precise will aid in the quicker get back of more drivers on the road.
  • The transaction will fast-track CarParts.com’s growth in the $300 billion auto parts market and materially expand its mechanical parts offerings.
  • Premium Guard’s current Precise fuel delivery system assets will be absorbed and added to CarParts.com’s existing premium fuel pump brand.
  • CarParts.Com held cash worth $35.8 million as of Jan. 2, 2021.
  • Price action: PRTS shares traded lower by 1.50% at $13.12 on the last check Monday.
 

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