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Jegs, the Famous Auto Parts Catalog Company, Sold to Private Equity Firm

Richard Cranium

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Can't blame them for cashing out, but why can't I't help but think that this "private equity firm" that bought them will screw it up.




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Jegs, the mail-order auto parts behemoth that has been firmly embedded in the American aftermarket scene since its formation in 1960, has been purchased by a private-equity firm. This is the first time the company has ever received private funding, according to a report from Dragzine, marking a stark departure from its family-owned status for the past 62 years.

The retailer, which has approximately 400 employees, was an old-school model for the American success story. According to Team Jegs, the company's in-house drag racing team, Jeg Coughlin Sr. began mail-ordering parts for his personal drag cars after realizing it was the only way to get the components he wanted to install. After winning with his machines--and getting attention on them--Coughlin Sr. realized there was a parts market to capture in the Midwest. Soon after, Jegs was formed. From there the company grew to a mainstay of American tuning, and the company's race team is one of the more successful in NHRA history, with Coughlin Sr. boasting 11 NHRA divisional wins alone.

Greenbriar Equity, the purchasing private-equity firm, is a bit less storied. The company was founded in 1999 and, according to its site, focuses on supply-chain investments and advanced engineering. Greenbriar has only a handful of other automotive-related investments, but it has a variety of shipping and logistics companies under its purview.

The Coughlin family will retain a minority ownership stake, although because Jegs is private, exact financial splits are unclear. The initial reason funding was sought and the company was sold is also unknown. Both the Coughlin family and the Greenbriar groups' statements focused on company growth, and Jegs had sought a new CEO with experience in mail-order industries as recently as five years ago to help with expansion. It's unclear what this will mean for the business, although for now, those parts should keep flowing in the mail.


https://www.msn.com/en-us/autos/ent...-to-private-equity-firm/ar-AAUqW0K?li=BBnb7Kz
 
I thought they were mostly Chevy stuff.
 
Bet it gets "Toys-R-Us-d"
 
Has a successful business ever been bought out by an equity firm that didn't screw it up?
 
Equity firms typically come in to "streamline/ cost cut" companies. Unfortunately, some will end up losing their jobs. Been through multiple private equity takeovers during my career. Never good for the employees or customers. 440'
 
Equity firms typically come in to "streamline/ cost cut" companies. Unfortunately, some will end up losing their jobs. Been through multiple private equity takeovers during my career. Never good for the employees or customers. 440'

Mitt Romney and Bain Capital agree. If you're an employee or customer of jegs prepare to be corn holed. If you're the equity firm you'll do great.
 
In my dealing with Jegs, the always shipped with Fedex, which has never been worth **** when delivering to me. I deal mostly with Summit Racing, and they ship with UPS which gets to me quicker. Back in the 90's when I ordered from Summit before 6 PM, I got my stuff delivered to my job site next day before noon. ruffcut
 
What they did to Remington comes to mind. Abusing the reputation of the brand while Quality goes down.
 
Owning a Company, is like owning Stocks, Buy Low, Sell High. Hopefully they came out way ahead.
With the Plan to Go Green, the Oil fueled market ahead, does not look good, so Their timing may be part of it too...
 
I just hope they don't turn into another Remington firearms in a couple of years. Split up into pieces with some parts bought by good companies and others bought by questionable ones.
 
I called greenbriar equity and they told me they're buying because they care about the car community and want to give us better prices and service. And they're going to increase pay and pensions for jegs employees too. Seem like really nice people. NOT!!!!
 
I called greenbriar equity and they told me they're buying because they care about the car community and want to give us better prices and service. And they're going to increase pay and pensions for jegs employees too. Seem like really nice people. NOT!!!!
Build back Better huh?
 
who's bigger Jegs or Summit , I just ordered some stuff from speedway motors , service was good
Summit has great shipping to Canada ,
 
I haven't bought from Jegs for a long time...
I prefer Summit Racing & get my parts way quicker
with far fewer hassles & mistakes or backorders...
I get my stuff in 2 days or less, even up here...

Yes, it's too bad;
the Coughlin family chose to & sold out/cashed out
(still retains a minority share :jackoff:)
on an empire, that their grandfather built from the ground up...

I don't know anything about the new owners either
 
Ordered a spray gun from summit last week. Was shocked it got here in two days.
 
Has a successful business ever been bought out by an equity firm that didn't screw it up?
Yeah. I worked for a division of Texas Instruments bought by Bain Capital. They turned it into Sensata Technologies, really didn’t do a bad job. Still some stupidity but not much different than was there before. Could go either way with Jegs but I’m betting they improve it. If they just made it as good as Summit they’d get their money back.
 
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