- Tom Marx shared aftermarket and global industry expertise
- Chinese aftermarket business leaders gained valuable information on mergers and acquisitions (M&A), marketing and U.S. aftermarket business climate driven by technology and changing market dynamics
San Rafael, Calif. (July 23, 2018) – Tom Marx of Hart Marx Advisors and Marx Group and other industry leaders met with Chinese aftermarket business leaders to educate and discuss the fundamentals of mergers and acquisitions as well as marketing within the U.S. automotive aftermarket.
Shanghai’s AMInsight Consulting, in partnership with Dave Barbeau of Barbeau Consulting, designed and delivered this program to representatives from 11 Chinese aftermarket companies, comprised primarily of suppliers and distributors.
“Meeting with the AMInsight team enables great opportunities for everyone involved,” Marx said. “It makes it possible to further global relationships, expands the understanding of each unique marketplace and offers the potential for successful investment from both sides.”
The business leaders visited multiple aftermarket businesses during their stay in the U.S., including the National PRONTO Association, XL Parts, Technical Chemical Company, Automotive Service Association (ASA), and other aftermarket operations. They also visited AutoZone, NAPA and Advance Auto Store locations in the Dallas area. Brian Cruickshank of the University of the Aftermarket presented the role that the University plays to educate present and future members of the industry.
Shanghai-based AMInsight Consulting serves as a professional exchange platform between the Chinese automotive aftermarket and other global manufacturers, distributors, buying groups and service providers.
“We are pleased to provide this opportunity to increase the knowledge of the U.S. aftermarket for these business leaders, as there is so much to learn from a business segment that represents thousands of companies and hundreds of billions of dollars in commerce,” said Maggie Xu, co-founder, AMInsight.
“These exciting new connections for Hart Marx Advisors and Marx Group present opportunities for both current and potential American and Chinese clients who have interest in developing business both in their home markets and abroad,” Barbeau said.
Marx focused on valuation multiples and their determining factors, transaction overview from both buyer’s and seller’s perspective, as well as case studies detailing common challenges that business owners face and the benefits of successfully implemented merging and acquisition and organic business growth strategies.
The marketing portion highlighted the importance of establishing and supporting a brand in the U.S. aftermarket so that companies are respected by technicians and independent repair shops. Marx stated the most successful companies invest in marketing strategies that position their brands for growth, not only to build awareness but also to become the brands that automotive professionals request.
About Hart Marx Advisors
Hart Marx Advisors is a consulting firm that assists buyers and sellers in the automotive and heavy-duty industries with mergers and acquisitions (M&A) transactions, along with capital formation for private equity placements. A highly-experienced team of specialists provide buyers and/or sellers with a full range of services, including: M&A strategy, planning, investigation, buyer/seller identification, negotiations, due diligence support and integration. With locations in Folsom and San Rafael, CA; Bloomfield Hills, MI; Jacksonville, FL; and London, UK. www.hartmarxadvisors.com.
About Marx Group
Marx Group is a full-service marketing communications agency highly focused in the automotive, trucking and tech industries, offering a diverse range of services tailored to fit client needs. Marx Group delivers strategic marketing campaigns to help its clients drive sales, increase market share and grow their businesses. www.marxgrp.com.
About Barbeau Consulting
Barbeau Consulting LLC has been providing business improvement advice to companies in the automotive aftermarket. Dave Barbeau has led the global aftermarket for two premier Tier One automotive manufacturers; he is considered an expert in the China aftermarket having spent much time building businesses there and in consulting with Chinese based companies. Barbeau Consulting is a Strategic Partner with AMInsight.www.barbeauconsulting.com.
About AMInsight Consulting
Co-founded in March 2018 by Maggie Xu and Lilly Li in Shanghai, AMInsight was formed with the goal of being the leading professional exchange between the China automotive aftermarket and overseas resources, focused on the auto parts supply chain, including distributors, B2B e-commerce, auto parts retailers, service and collision chains and buying groups. (86)186 1689 2437.