Two of the biggest names in the aftermarket have joined forces, as yesterday it was announced that Speedway Motors, one of the largest automotive mail order companies in the country and a dominant player in the Street Rod and Circle Track markets has acquired AFCO, owner of not only AFCO, but U.S. Brake and Dynatech Exhaust.
This should be marriage made in heaven, as the combination should function much as Trick Flow and Summit do, working in hand in hand while at the same time supporting a good dealer and distribution network. As we've worked with AFCO recently on a few projects, and plan to work with Speedway on our new OneDirt.com Circle track website, we're excited for the teams.
Here is the official press release below:
SPEEDWAY MOTORS (LINCOLN, NEB.), JOINS FORCES WITH AFCO (BOONVILLE, IND.) FAMILY-OWNED COMPANIES COMBINE TO BETTER SERVE CUSTOMERS
Lincoln, Neb. – Speedway Motors, Inc. of Lincoln, Neb., America’s oldest speed shop and a trusted source for specialty street rod and racing products, has acquired A-FAB Corporation of Boonville, Ind.
A-FAB Corporation engineers and manufactures premium shocks, springs and radiators through its AFCO brand, high-quality automotive brakes through its U.S. Brake brand, and premium exhaust systems through its Dynatech division.
The combination unites two legendary family-owned companies. The combined companies will offer customers a wider selection of high-quality products with fast delivery and superior customer service.
Clay Smith of Speedway Motors said combining the strengths of Speedway and AFCO creates a stronger company. “Speedway Motors is known throughout the industry for outstanding product selection, same-day shipping and great customer service,” Smith said. “We are excited about this opportunity as it will greatly benefit our customers. We have been looking to join forces with a premier specialty automotive products manufacturer and realized the numerous benefits of adding the AFCO, Dynatech and U.S. Brake brands and their industry leading reputation. This combination will enhance both operations and create many new growth opportunities.”
Jeff Scales of AFCO said the transaction ensures AFCO’s operations, management team and employees will remain in Boonville.
“We have been looking for a partner to help grow our high-quality product line,” Scales said. “Speedway, which also is family-owned, is a perfect fit because each company has unique resources and core strengths that complement each other. Collectively we plan to make significant capital investments in our facilities which could result in additional job growth. Our combined manufacturing, inventory and distribution system will be a tremendous benefit to customers and suppliers.”
Smith said the transaction will close in early December 2008, and that a smooth, seamless transition is anticipated. Terms of the transaction were not disclosed.
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