OEConnection Acquires VeriFacts Automotive and Assured Performance Network
Written by Stacey Phillips, Autobody News
Published Nov. 17, 2021
In November, OEConnection (OEC) confirmed it recently acquired VeriFacts Automotive and Assured Performance Network.
Both companies are based in California and provide Certified Repair Network services to OEMs and collision repair shops with customer relationships in North America.
“Over the last few years, we’ve been working to expand OEC’s value proposition to collision industry customers,” said OEC in a statement. “In late 2020, we entered the Certified Repair Network arena with the acquisition of Summit Consulting, Inc. (SCI) to create a flexible and dynamic solution for the CRN space.
"With VeriFacts and Assured Performance joining the OEC family, we will continue to enhance the value we bring to our collective customer base with the primary goal of driving safe and proper vehicle repairs.”
VeriFacts, established in 2002, is an independent, third-party verification service that offers oversight, analysis, coaching, education and technology for collision repair facilities.
Assured Performance Network, formed in 2003, provides independent third-party certification for collision repair providers.
OEC first launched in 2000 with the mission of helping OEMs sell more genuine parts.
“As the industry evolves and increases in complexity, the best way we can continue to serve our customers is by connecting the aftersales industry through solutions that help deliver efficient repair lifecycles, OEM parts and procedures, and proper vehicle repairs,” said an OEC representative.
Based in Northeast Ohio, OEC is a leading technology provider for OEM distribution networks. The company equips many of the world's largest automotive and heavy-duty original equipment manufacturers, their franchised dealers and distributors, and customers with online parts marketing, procurement and inventory management solutions that facilitate efficient and accurate wholesale services.
As a provider of SaaS-based solutions for OE parts, OEC focuses on data management, ecommerce, pricing, supply chain, cataloging, service and business intelligence (BI) solutions, across North America, Europe and Asia Pacific.
In November 2020, the company acquired SCI, a BI consulting and solutions provider for the automotive industry headquartered in Dallas, TX.
Following the acquisition, SCI President Bob McDonald said, “This is a very exciting time for the SCI team. OEC has a tremendous track record of delivering value to its customers. OEC’s proven, high-quality solutions, combined with SCI’s domain expertise and BI platform, position us to deliver even more value to our customers.”
Earlier that year, in July 2020, OEC acquired NuGen IT, an award-winning software firm based in Kansas City that develops management tools for the automotive repair industry.
In a press release issued at that time, the company said NuGen IT will add collision repair industry expertise to augment OEC’s growing collision business.
“NuGen IT brings high-quality collision market solutions and repair expertise that will help expand our value to the collision industry,” said Ike Herman, OEC’s EVP of corporate development.
“I am extremely proud of all that the NuGen IT team has accomplished and couldn’t be more excited about this next step in our evolution,” said Pete Tagliapietra, founder and president of NuGen IT, after the acquisition. “OEC has a tremendous and successful track record of delivering solutions to body shops and automakers, and I look forward to what this partnership will mean for our collective customer base.”