Acquisition of auto-parts wholesaler first for KSI

Auto parts distributor KSI Trading Corp. has signed a definitive agreement to acquire Richmond Tidewater Bumper, of Mechanicsville, Va., upping its employee total at the company to about 700.Auto parts distributor KSI Trading Corp. has signed a definitive agreement to acquire Richmond Tidewater Bumper, of Mechanicsville, Va., upping its employee total at the company to about 700.

The acquisition of the aftermarket auto-parts wholesaler marks the first for South Plainfield-based KSI.

All existing RTB locations will eventually transition to the KSI Auto Parts brand, the company said.

The deal — which includes a 200,000-square-foot distribution center — will open access for KSI to the coastal Virginia and North Carolina markets and result in an increased presence with multishop operators and insurance companies. 

“The acquisition of RTB furthers our mission of becoming the second-largest distributor of automotive aftermarket collision parts in North America,” KSI CEO Christopher Patti said in a prepared statement.

Patti went on to indicate that the company’s long-term growth plan would involve “similar acquisitions.”

KSI was itself acquired earlier this year by Investcorp, a global provider and manager of alternative investment products.