Debevoise & Plimpton LLP is advising Providence Equity Partners LLC (“Providence Equity”) in its acquisition from Ford Motor Company and General Motors of a majority stake in OEConnection LLC (“OEC”), a leading automotive parts technology provider for original equipment manufacturers’ (“OEM”) distribution networks. General Motors and Ford will each maintain a 15% minority stake in the Company.
OEC is the established market leader of end-to-end cloud-based technology solutions that facilitate the efficient location, sale, distribution and dynamic pricing of automotive and heavy duty trucking original equipment manufactured (“OE”) parts. The Company serves over 20 OEMs worldwide and 100,000 dealership and repair customers. Customers use OEC solutions millions of times each month to access real-time, dynamic pricing, as well as to market, manage and move original equipment parts, facilitating an estimated $20 billion in annual replacement parts trade.
Providence Equity is a leading global private equity firm with $45 billion in assets under management.
The Debevoise team is led by partners Kevin A. Rinker and Michael A. Diz, and includes partners Gary M. Friedman, Jonathan F. Lewis, Scott B. Selinger, counsel Rafael Kariyev, and associates Usman Arain, Michelle M. Hillenbrand, Sue Meng, Franklin L. Mitchell, Kamal Steven Nesfield, Brett Novick and Jennifer R. Roeske.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.