PGW Auto Glass Sold to One Firm Equity Partners

PGW Glass is being sold by its owner, LKQ Corporation, to One Firm Equity Partners (OEP).

PGW Auto Glass distributes aftermarket glass in 113 facilities in the U.S. and Canada, and is headquartered in Cranberry Township, Pa.

Closure of the transaction is expected in the second quarter of 2022. Its annual revenue is believed to be approximately $400 million USD and employees approximately 900 people.

Todd Fencak, vice president and general manager of PGW, will assume the role of CEO. In a statement issued jointly by both companies, Fencak said he looks forward to  “establish[ing] the company as an independent business, ensure continuity for customers, suppliers and employees and invest in exciting growth areas.”

“OEP has a strong track record of building market-leading industrial companies through organic and inorganic investment initiatives that drive operational performance, add product capabilities and expand geographic reach,” said Fencak. “We are pleased to be partnering with OEP as we continue to further develop and grow the company.”

OEP is “excited to partner with Todd and his team for the next chapter of the PGW story,”  said OEP managing director Steve Lunau in the same statement.

“The North American auto glass sector is witnessing unprecedented levels of advancement and innovation,” Lunau said. “PGW, with a century-old reputation for industry-leading quality customer service, is well-positioned to accelerate into its next phase of growth and development as a standalone enterprise. OEP is ready to invest behind the PGW management team to help them tap into new and exciting trends in the sector.”

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4 Responses to PGW Auto Glass Sold to One Firm Equity Partners

  1. Private Investment Firm with many shell companies (Wonder who the investors are) is purchasing PGW….hmmm. Strange how a wholesale supplier whom has been an OEM supplier had lost contracts with certain manufacturers and then started to gouge on prices of DW2415 while not suppling other wholesalers that sell Mopar parts. Might just be me getting tired of tighter and tighter margins on insurance work, lack of NAGS price increases and prices even being set on certain parts but to me it seems like there is some kind of end-game strategy being set into motion for us smaller companies to drive us out. And Mygrant getting hacked….doesn’t add up unless you think who would benefit from these type of acquisitions and actions.

  2. Former Employee says:

    I am not surprised that it would be more beneficial for a company like LKQ to part ways with PGW for myriad reasons. From my knowledge the company was too outdated in regards to processes and many in leadership positions would prevent locations from becoming profitable because they wanted to safeguard individuals that they were friends with. PGW from my experience was very inconsistent with processes and a constant demonstration that the leadership were not working well together. I hope some of these major changes they experience helps the company focus on their growth potential.

  3. Oh great another investment company buying out a business they know nothing about so they can cut costs & raise prices to raise profits and then re-sale in a couple years for a profit. The only one’s that will get hurt are the employees that get laid off and the customer that is purchasing the products from them which is us. PGW is already triple the price of every other distributor.

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