The majority interest in JEGS Automotive has been sold to Greenbriar Equity Group, L.P. (“Greenbriar”), a leading middle-market private equity firm.
According to a statement released via PRNewswire, the investment, which represents the first commitment of institutional capital to JEGS, aims to support continued product and market expansion while enhancing its technology and distribution capabilities. JEGS is Greenbriar’s eighth platform investment completed in the last twelve months.
JEGS Automotive started out in 1960 as a local performance shop and later transformed into a national online retailer and distributor of aftermarket auto parts and accessories. Today, JEGS offers its significant base of automotive enthusiast customers more than two million product SKUs from over 800 vendors through its online website and modern fulfillment center near Columbus, Ohio.
The Coughlin Family, which has successfully guided the Company’s expansion across three generations, said, “After more than sixty years in business, our family was very focused on identifying a growth partner who shares our values and has a clear vision for the future of JEGS. We’ve found that partner in Greenbriar, and we look forward to remaining significant shareholders alongside them.” The Coughlin Family will retain a minority ownership position alongside Greenbriar.
Jeg Coughlin III, President of JEGS, added, “The entire JEGS team has never been more excited about the opportunities that lie ahead, and we look forward to partnering with Greenbriar and their extensive network of sector experts as we focus on enhancing our customers’ online experience, onboarding new products and services, and expanding our reach through organic and M&A-led growth.”
