Held from 1995 to 2011
“FinishMaster was the first distributor to standardize service across the country and leverage scale advantage to bring new value to the collision repair market.”
President & CEO of LDI, Ltd.
Former President & CEO of FinishMaster
- Invested in the industry in 1995 by purchasing a $12 million spin-off of an automotive parts company
- Acquired majority control of FinishMaster from Maxco, 1996
- 38 acquisitions over 16 year hold period
- Sold to Uni-Select (strategic buyer), 2011
Consolidate the Industry with Strategic Roll-Ups
Reengineer the Supply Chain
Adding an additional step to the supply chain reduced purchase order volatility enabling suppliers to better plan production. Suppliers in turn passed savings back to FinishMaster via a gain-sharing model which offset the company’s extra handling expense.
In addition, lead times from company-owned distribution centers to branch locations were shorter than from manufacturers direct which allowed FinishMaster to consolidate safety stock and reduce overall working capital requirements. Likewise, branch ordering activity was significantly simplified (90+ percent of COGS were sourced from FinishMaster’s own distribution centers via an automated reorder system) allowing branch associates to focus on customer service and revenue growth.