Driven Distribution Group Appoints Matt Johnson as CEO
Portfolio - People | Nov 19, 2024 | HCI Equity Partner
HCI Equity Partners, a notable private equity firm, has appointed Matt Johnson as the new CEO of Driven Distribution Group, an automotive aftermarket distribution platform. This announcement aligns with the company's strategic vision following recent acquisitions, which include the auto parts and accessories distribution business of Chicago Parts & Sound in October 2024 and the recapitalization of Tri-State Enterprises, Inc. in November 2023. Matt Johnson, an accomplished leader in the automotive aftermarket sector, brings extensive experience managing large business units and executing rapid-paced acquisitions, which supports Driven Distribution's growth objectives. Johnson previously served in executive roles at EiKO Global, Pep Boys, Parts Authority, and other notable companies, indicating his expertise in operational management. Under his leadership, Driven Distribution aims to expand into new markets and form additional strategic partnerships while maintaining high customer service standards.
Sectors
- Private Equity
- Automotive Aftermarket
Geography
- United States – HCI Equity Partners is based in Washington, DC, and the companies involved, like Driven Distribution and its acquisitions, operate in the U.S.
Industry
- Private Equity – HCI Equity Partners, a private equity firm, is central to this article as it oversees the investment and operational strategy for Driven Distribution Group.
- Automotive Aftermarket – Driven Distribution Group operates in the automotive aftermarket sector, distributing auto parts and accessories.
Financials
- – The financial specifics, such as deal prices or revenue figures, are not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Matt Johnson | CEO of Driven Distribution Group | People | Appointed as CEO to lead the automotive aftermarket distribution platform Driven Distribution Group. |
| HCI Equity Partners | Private Equity Firm | Companies | A leading lower middle-market private equity firm managing Driven Distribution Group. |
| Driven Distribution Group | Target Company | Companies | An automotive aftermarket distribution platform recently acquiring Chicago Parts & Sound and recapitalizing Tri-State Enterprises. |
| Chicago Parts & Sound (CPS) | Acquired Company | Companies | Auto parts and accessories distribution business acquired by Driven Distribution Group. |
| Tri-State Enterprises, Inc. | Recapitalized Company | Companies | Recapitalized by Driven Distribution Group as part of its strategic expansion. |