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

March 29, 2021 10:38 AM | 1 min read | Make a Comment

E-commerce auto parts company CarParts.Com Inc PRTS inked 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.