HCI Equity Partners-backed Driven Distribution Group Appoints Matt Johnson as CEO

Accomplished corporate officer to lead HCI's new automotive aftermarket distribution platform

WASHINGTON, Nov. 19, 2024 /PRNewswire/ -- HCI Equity Partners ("HCI"), a leading lower middle market private equity firm, today announced the appointment of Matt Johnson as CEO of its recently launched automotive aftermarket distribution platform Driven Distribution Group ("Driven Distribution"). The announcement comes on the heels of Driven Distribution's acquisition of the auto parts and accessories distribution business of Chicago Parts & Sound ("CPS") in October 2024 and the recapitalization of Tri-State Enterprises, Inc. ("Tri-State") in November 2023.

"We are delighted to welcome Matt to Driven Distribution," said Scott Gibaratz, Partner at HCI. "He brings with him a wealth of experience in leading large automotive aftermarket businesses, integrating and growing multi-business unit companies, managing rapid-paced acquisitions, and building scalable processes and teams. Matt aligns seamlessly with our team, our culture, and our strategic objectives, and we believe he will be instrumental in driving our continued success."

Most recently, Mr. Johnson was CEO of EiKO Global, a manufacturer and distributor of LED lighting appliances and fixtures. Previously, he held the title of Chief Operating Officer and Executive Vice President at both Pep Boys, an automotive aftermarket service and repair provider, and Parts Authority, a distributor of automotive aftermarket parts. Prior to those positions, he served as President of Altrom Group, Interamerican Motor Corporation and Westborough Management Group, LLC. Mr. Johnson holds an MBA from Wake Forest University.

"I'm eager to bring my operational and management experience in the automotive aftermarket industry to Driven Distribution," said Mr. Johnson. "The company has an established track record of impressive organic growth, robust M&A, and a strong reputation built by Tri-State and CPS. I look forward to guiding Driven Distribution's growing operations as we expand into new regions and partner with new businesses, all while continuing to provide best-in-class service to our customers."

About HCI Equity Partners

HCI Equity Partners is a leading lower middle-market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.

About Driven Distribution Group

Backed by HCI Equity Partners, Driven Distribution Group is a warehouse distributor of automotive aftermarket hard parts, consumables, and accessories. The platform focuses on delivering operational excellence, outstanding customer service, and fostering an innovative, growth-oriented environment. By uniting strong brands under one umbrella, Driven Distribution aims to create a leading platform in the automotive aftermarket industry. For more information, please visit www.drivendistributiongroup.com.

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SOURCE HCI Equity Partners