U.S. Auto Parts Completes Acquisition of the Whitney Automotive Group (PRTS)

U.S. Auto Parts PRTS today announced that it has completed the acquisition of the Whitney Automotive Group for the purchase price of $27.5 million and assumption of approximately $11 million in trade-related and other payables. Whitney Automotive Group is expected to have $110 - $120 million in revenues under U.S. Auto Parts ownership in 2011. Silicon Valley Bank has provided the Company with acquisition financing totaling $35 million.