Founded in 1984, KSI is an industry-leading distributor of quality replacement auto body parts servicing more than 10,000 collision repair shop customers across 25 locations in 14 states. Headquartered in South Plainfield, NJ, KSI has more than 600 employees across the U.S.
KSI will be led by Christopher Patti, the company's newly appointed Chief Executive Officer, who brings experience in both privately held as well as publicly traded companies. Patti has held leadership roles in the automotive aftermarket industry since 2007, when he joined Keystone Automotive Operations. More recently, he was Senior Vice President of Sales and Marketing for North America at LKQ, where he was responsible for sales in both the salvage and aftermarket collision business units as well as the Paint, Body & Equipment (PBE) business.
"We are excited to partner with KSI, as they have proven their ability to execute through various market cycles," said Steve Miller, Managing Director of Investcorp's Corporate Investment group in North America. "We have been extremely impressed with the quality and dedication of the KSI employees who have built this company. We look forward to working with Chris and the entire KSI team, and we are confident in the company's ability to continue to deliver results, increase market share and accelerate growth over the long term."
"I'm thrilled to join the best-in-class team at KSI," said Patti. "With Investcorp as a partner, KSI is well-positioned to continue to deliver both strong growth and exceptional customer service."
Investcorp has a strong history of investments in the automotive and related markets. With this acquisition, Investcorp also sees an opportunity for KSI to grow by expanding geographically, through the opening of greenfield locations, pursuing acquisitions and establishing stronger relationships with insurance companies and MSOs.