IOWA NEWSPAPER ASSOCIATION
MPEC to acquire Tom Hovland Enterprises, Inc.
ROCKFORD, IL (August 21, 2013)
Rockford, IL based Motor Parts & Equipment Corp. (MPEC) has completed negotiations for the acquisition of Tom Hovland Enterprises (THE), an operation based in Mason City, Iowa, MPEC Executive Chairman, Joseph D. Hansberry announced today.
THE was founded by Tom Hovland 40 years ago, and employs approximately 110 individuals. Like MPEC, THE stores function under the NAPA Auto Parts brand. The acquisition includes 15 NAPA stores in Iowa, Minnesota and Wisconsin, including locations in: Iowa; Ames, Belmond, Boone, Cedar Rapids, Clear Lake, Dubuque, Hampton, Iowa City, Iowa Falls, Marshalltown, Mason City and Waterloo, Minnesota; Albert Lee and Austin, Wisconsin; La Crosse. The addition of the 15 new stores gives MPEC 47 NAPA stores throughout Southern Wisconsin, Central and Northern Illinois and the Iowa and Minnesota and region.
“We are pleased to announce the acquisition of THE, an operation that offers the same attention to service as our existing operation, said Hansberry. “We are proud to welcome these new qualified and competent employees to the MPEC family and look forward to our continued growth into new areas.
“We could not have pulled off this latest acquisition without the cooperation of our current team and I could not be more proud of the way everyone has pulled together to complete the many projects, new initiatives and our all important sales growth”, Hansberry added.
Jeremy Hoyer, MPEC Executive Vice President will lead the integration of THE into the MPEC system and current THE customers can expect continued great service and the NAPA product line which offers more than 400,000 parts.
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Motor Parts and Equipment Corporation (MPEC) is the largest independent distributor of NAPA Auto Parts in North America . MPEC is headquartered in Rockford, IL.
About NAPA AUTO PARTS
NAPA (www.NAPAonline.com) was founded in 1925 to meet America's growing need for an auto parts distribution system. Today NAPA has grown to more than 6,000 NAPA AUTO PARTS stores, 64 distribution centers with more than 400,000 part numbers in inventory and more than 13,000 NAPA AutoCare and AutoCare Collision Centers nationwide.
(CONTACT: Joseph D. Hansberry, (815) 963-7609, Ext. 107, Hanna Gueringer,(225) 201-0032) E-mail: email@example.com)