Jeg's yeah THAT Jegs gone the way of "financial holding"

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67Dart273

67Dart273

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Family sold it out, bought up by some corporate bean counters that don't give one **** or know one thing about cars or performance

Greenbriar Announces Acquisition of JEGS Automotive

Greenbriar Equity Group, L.P. (“Greenbriar”), a leading middle market private equity firm today announced that funds managed by Greenbriar acquired a majority position in JEGS Automotive (“JEGS”), a leading online national retailer and distributor of high-performance aftermarket auto parts and accessories. The investment, which represents the first commitment of institutional capital to JEGS, aims to support continued product and market expansion while enhancing its technology and distribution capabilities. JEGS is Greenbriar’s eighth platform investment completed in the last twelve months.

Since its founding in 1960, JEGS has transformed from a local performance shop to a national online retailer and distributor of aftermarket auto parts and accessories. Today, JEGS offers its significant base of automotive enthusiast customers more than two million product SKUs from over 800 vendors through its online website and modern fulfillment center near Columbus, Ohio.

The Coughlin Family, which has successfully guided the Company’s expansion across three generations, said “After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS. We’ve found that partner in Greenbriar and we look forward to remaining significant shareholders alongside them.” The Coughlin Family will retain a minority ownership position alongside Greenbriar.

Jeg Coughlin III, President of JEGS, added, “The entire JEGS team has never been more excited about the opportunities that lie ahead, and we look forward to partnering with Greenbriar and their extensive network of sector experts as we focus on enhancing our customers’ online experience, onboarding new products and services, and expanding our reach through organic and M&A-led growth.”

“As an iconic brand in the performance enthusiast segment, JEGS is extremely well-positioned to take advantage of the continued growth of eCommerce in the broader automotive aftermarket, and we are proud to have been selected as their first institutional partner. The Coughlin family has built a unique culture underpinned by passionate employees with deep technical expertise and we look forward to preserving that foundation while working with management to drive accelerated growth,” commented Matt Burke, Managing Director of Greenbriar.

Stifel Financial Corp. (NYSE: SF) acted as exclusive financial advisor to JEGS and Ice Miller LLP provided legal counsel. Hughes Hubbard & Reed LLP served as legal counsel to Greenbriar. This transaction was completed in December 2021. Additional terms of the agreement were not disclosed.
 
Just send me the damned J.C. Whitney/ Warshawshi catalog and be done with it.
 
The way the article reads, they intend to keep operating.

"After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS."

I like Summit better anyway.
 
^^Meybee so, but that sellout just can't be good for customers, and might not even be good for the company^^
 
They are probably setting themselves up for retirement.
 
Capital investment firms like that can also help inject investment into things like their own lines of parts. Summit has been doing that forever with brands they own (look at the brand excluded on coupons - summit owns most of them).

It may be the beginning of the end, or it may lead to stiffer competition for summit, which could be good - or bad. Time will tell
 
Kegs lost my respect when they charged my credit card for a product that wasn’t on this Earth last year and probably still isn’t.
 
Phreakish said:
Capital investment firms like that can also help inject investment into things like their own lines of parts. Summit has been doing that forever with brands they own (look at the brand excluded on coupons - summit owns most of them).

It may be the beginning of the end, or it may lead to stiffer competition for summit, which could be good - or bad. Time will tell
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What chaps my *** is Holley owns just about EVERY darn Old School Muscle Car Performance Brand. And minisculed them and sent manufacturing to Xina
 
Ironracer said:
What chaps my *** is Holley owns just about EVERY darn Old School Muscle Car Performance Brand. And minisculed them and sent manufacturing to Xina
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Yup. That's the drawback of commoditization. The next step is for dealers and retailers to vertically integrate, effectively buying up whoever holley doesn't own yet. Or holley will open their own summit-slash-jegs web store and dominate the whole industry end to end.

Tends to happen in any mature industry where competitors are basically only competing on price. Just like airlines, cars, or sunglasses..
 
Phreakish said:
Yup. That's the drawback of commoditization. The next step is for dealers and retailers to vertically integrate, effectively buying up whoever holley doesn't own yet. Or holley will open their own summit-slash-jegs web store and dominate the whole industry end to end.

Tends to happen in any mature industry where competitors are basically only competing on price. Just like airlines, cars, or sunglasses..
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All.i can say is " GRRRR" lol. Not directed at You! Yep, damn near like Globalists, once they own it all, well, it's THEIR way...
 
RustyRatRod said:
The way the article reads, they intend to keep operating.

"After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS."

I like Summit better anyway.
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"After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS."


I am very familiar with business statements, allow me to translate that statement into common language.................."We plan to decrease quality (buy from foriegn entities) and increase our profits and you the customer will pay the price, we appreciate your business"!!!!! "FYI, A small disposable tube of Vaseline will be included with each order to ease the transaction, studies show that if you "relax" the spincter the transaction is not as painful".
 
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Treblig said:
"After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS."


Let me translate that statement into common language.................."We plan to decrease quality (buy from foriegn entities) and increase our profits and you the customer will pay the price, we appreciate your business"!!!!!
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Yep. Full Bore Globalist Scum!
 
67Dart273 said:
^^Meybee so, but that sellout just can't be good for customers, and might not even be good for the company^^
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Ironracer said:
Yep. Full Bore Globalist Scum!
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Very few Pioneers left ###
Isky comes to mind
Crane gone and many others
Embrace your old parts because if the trend continues we are forced to buy overpriced junk from across the pond !!!
 
1Badcolt said:
Very few Pioneers left ###
Isky comes to mind
Crane gone and many others
Embrace your old parts because if the trend continues we are forced to buy overpriced junk from across the pond !!!
Click to expand...
I'm about to sell a RB TM-7, a bunch of cam cores, along with a 440 HP block, crank, rod set and a running set of heads to a guy I met Fri. Gentleman was running slightly warm... met a Good Old School Man, by just stopping to check on him...

20220225_133223.jpg
 
One of the worst things I can think of is the politization/political correctness aspect of this situation. Look at all the CRAP we have heard about big corporations (like Coke) caving to political correctness in the past few years. What if the winds start blowing against high performance/classic cars? Jegs/Greenbrier will jump on the "Cancel all high performance/non-stock parts sales" so fast it will make your head spin. That is what those mega corporations do best.
 
harrisonm said:
One of the worst things I can think of is the politization/political correctness aspect of this situation. Look at all the CRAP we have heard about big corporations (like Coke) caving to political correctness in the past few years. What if the winds start blowing against high performance/classic cars? Jegs/Greenbrier will jump on the "Cancel all high performance/non-stock parts sales" so fast it will make your head spin. That is what those mega corporations do best.
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Now You see it!
 
As long as Jegs continues to show profit, I doubt the consumer would be affected. Im sure the owners of Jegs received a good amount of compensation.
The acquisition of Jegs could be good for its customers or less than that, time will tell.
As far as political correctness aspect goes, im not worried. Policy, hiring practices , diversity changes in the work places as long as it does not become ridiculous doesn't upset me. It also doesn't affect me but I do understand why it would be a concern to others
At one time every doctor I was ever treated at was a private practice. Now almost all are owned by large hospital networks. The cost of running a private practice was very steep and included the usual headaches, so for may physicians the offers to sell couldn't be refused
I have no idea what changed but I do know I know longer wait a good hour plus to see a specialist.
Appointments are on time and things seemed to be well run
The electrical supply house I used was family run for decades, no longer although the name is the same and family stayed on until they retired
The company was bought out by a much larger company . I have no idea how they are doing but a recent visit provided me with a item no one else had in stock. They seem to well stocked and busier
All of this seems to be the way things are going now, business's started decades ago on a kitchen table and out of a backyard garage, built into successful companies through decades of hard work are being bought out.......yes sad but thats the world we live in
 
Steve welder said:
As long as Jegs continues to show profit, I doubt the consumer would be affected. Im sure the owners of Jegs received a good amount of compensation.
The acquisition of Jegs could be good for its customers or less than that, time will tell.
As far as political correctness aspect goes, im not worried. Policy, hiring practices , diversity changes in the work places as long as it does not become ridiculous doesn't upset me. It also doesn't affect me but I do understand why it would be a concern to others
At one time every doctor I was ever treated at was a private practice. Now almost all are owned by large hospital networks. The cost of running a private practice was very steep and included the usual headaches, so for may physicians the offers to sell couldn't be refused
I have no idea what changed but I do know I know longer wait a good hour plus to see a specialist.
Appointments are on time and things seemed to be well run
The electrical supply house I used was family run for decades, no longer although the name is the same and family stayed on until they retired
The company was bought out by a much larger company . I have no idea how they are doing but a recent visit provided me with a item no one else had in stock. They seem to well stocked and busier
All of this seems to be the way things are going now, business's started decades ago on a kitchen table and out of a backyard garage, built into successful companies through decades of hard work are being bought out.......yes sad but thats the world we live in
Click to expand...


Evidently you weren’t paying attention to the rest of the companies that were bought out like this. A lifter manufacturer comes to mind. They were bought out, the capital raped out of the company then all the bad debt was dropped onto the company. Pensions were gone.

There aren’t many good acquisitions. This won’t be one of them.
 
What I saw was "market expansion"...

What I read was "now only chevy ls swap parts".
 
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