EX-99.1
2
exhibit_99-1.htm
PRESS RELEASE - WAG ACQUISTION
exhibit_99-1.htm
EXHIBIT
99.1
U.S.
Auto Parts Completes Acquisition of the Whitney Automotive Group, One of the
Nation's Largest, Most Trusted Online Auto Parts Retailers
CARSON,
Calif., Aug 17/-- U.S. Auto Parts (Nasdaq: PRTS), one of the largest online
providers of automotive aftermarket parts and accessories, today announced that
it has completed the acquisition of the Whitney Automotive Group for the
purchase price of $27.5 million and assumption of approximately $11mm in
trade-related and other payables. Whitney Automotive Group is expected to have
$110 - $120 million in revenues under U.S. Auto Parts ownership in 2011. Silicon
Valley Bank has provided the Company with acquisition financing totaling $35
million.
About
U.S. Auto Parts Network, Inc.
Established
in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket
parts, including body parts, engine parts, performance parts and accessories.
Through the Company's network of websites, U.S. Auto Parts provides individual
consumers with a broad selection of competitively priced products that are
mapped by a proprietary product database to product applications based on
vehicle makes, models and years. U.S. Auto Parts' flagship websites are located
at
www.autopartswarehouse.com
,
www.partstrain.com
and
www.automd.com
and the Company's corporate website is located at
www.usautoparts.net
.
Investor
Contacts
:
Ted
Sanders, Chief Financial Officer
U.S. Auto
Parts Network, Inc.
tsanders@usautoparts.com
(310)
735-0085
Budd
Zuckerman, President
Genesis
Select Corporation
bzuckerman@genesisselect.com
(303)
415-0200
Source: U.S.
Auto Parts Network, Inc. (Nasdaq: PRTS)

EX - 99 . 1 2 exhibit _ 99 - 1 . htm PRESS RELEASE - WAG ACQUISTION exhibit _ 99 - 1 . htm EXHIBIT 99 . 1 U . S . Auto Parts Completes Acquisition of the Whitney Automotive Group , One of the Nation ' s Largest , Most Trusted Online Auto Parts Retailers CARSON , Calif . , Aug 17 / -- U . S . Auto Parts ( Nasdaq : PRTS ) , one of the largest online providers of automotive aftermarket parts and accessories , today announced that it has completed the acquisition of the Whitney Automotive Group for the purchase price of $ 27.5 million and assumption of approximately $ 11 mm in trade - related and other payables . Whitney Automotive Group is expected to have $ 110 - $ 120 million in revenues under U . S . Auto Parts ownership in 2011 . Silicon Valley Bank has provided the Company with acquisition financing totaling $ 35 million . About U . S . Auto Parts Network , Inc . Established in 1995 , U . S . Auto Parts is a leading online provider of automotive aftermarket parts , including body parts , engine parts , performance parts and accessories . Through the Company 's network of websites , U . S . Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes , models and years . U . S . Auto Parts ' flagship websites are located at www.autopartswarehouse.com , www.partstrain.com and www.automd.com and the Company 's corporate website is located at www.usautoparts.net . Investor Contacts : Ted Sanders , Chief Financial Officer U . S . Auto Parts Network , Inc . tsanders@usautoparts.com ( 310 ) 735 - 0085 Budd Zuckerman , President Genesis Select Corporation bzuckerman@genesisselect.com ( 303 ) 415 - 0200 Source : U . S . Auto Parts Network , Inc . ( Nasdaq : PRTS )