Newforce Takes Control of Used Auto Parts Leader PartsMarket,
Renaming Company “Jupiter Pro Parts"
New Management Launches the Industry's First-ever Certified
Pre-Owned Parts™ Program
SAN FRANCISCO, CA. (March 26, 2020) – NewForce Equity Partners
announced that it took a controlling interest in PartsMarket
through a cash investment in the company. With new ownership in
place, the nation’s largest source of used and remanufactured auto
engines and transmissions for repair pros changed its name to
Jupiter Pro Parts, hired two new key executives, and introduced a
first-of-its-kind Certified Pre-Owned Parts™ warranty program.
"PartsMarket disrupted the industry by solving a key pain
point for automotive repair professionals. They brought the
convenience of one-stop shopping to the industry by aggregating
the inventory of hundreds of vendors." said Doug Renert, a
partner at NewForce and now the Jupiter Pro Parts Chairman.
"We saw an opportunity to take this disruption one-step
further by having Jupiter Pro Parts be the first-ever source of
Certified Pre-Owned Parts™ engines and transmissions."
Jupiter Pro Parts now offers CPO parts with a first-of-its-kind
"No-Fault" warranty that guarantees the service life of
engines and transmissions for five years or 75k miles. In the
event a claim is required, repair shops call customer care for a
replacement – no questions asked.
The company has a competitive advantage developed over six years
of experience selling tens of thousands of parts across a network
of select suppliers. Jupiter Pro Parts couples this data with a
rigorous quality assurance evaluation, allowing the company to
provide a level of protection to repair pros that no one else in
the industry can offer.
NewForce also helped recruit two new executives from their network
to Jupiter Pro Parts. Bill Atkinson brings over 30 years of sales
and marketing experience to his new role as Chief Revenue Officer
of the company. Jupiter Pro Parts also hired Kevin Higgins as the
company’s Head of Finance.
"I couldn’t be more thrilled to be joining Jupiter Pro
Parts,” said Bill Atkinson, the company’s newly appointed Chief
Revenue Officer. “The Certified Pre-Owned Parts™ warranty will be
a difference maker in the industry, as we guarantee every single
part we sell and give repair professionals the peace-of-mind they
"We’re fortunate to have NewForce backing our company,"
said Michael Krug, Jupiter Pro Parts Co-Founder and Chief
Technology Officer. "They helped drive the introduction of
the new Certified Pre-Owned Parts™ program, which makes it
possible for auto professionals to keep their services affordable
without having to take a gamble on used parts."
About Jupiter Pro Parts
Jupiter Pro Parts launched in 2013 to help
automotive repair shops find quality used and remanufactured
engines and transmissions. Renamed under new ownership, Jupiter
Pro Parts has grown into the nation's largest source of used
and remanufactured auto parts. They continue to disrupt the market
by now offering a first-of-its-kind Certified Pre- Owned Parts™
program with an unprecedented "No-Fault" warranty.
Devoted to creating peace- of-mind for automotive professionals,
Jupiter Pro Parts continues to raise the bar on product
reliability, exceptional customer service, and overall
simplification of the parts purchasing experience. Find us at
About NewForce Equity Partners
NewForce is a Silicon Valley-based private equity fund that
invests in technology businesses generating up to $40M in annual
revenue. With an emphasis on Enterprise SaaS and B2B Marketplace
companies, NewForce brings deep operational expertise and
resources to partner with its portfolio companies to help them
realize their full potential with new funding and precise
If you would like more information about this topic, please call
Kevin Higgins at (415) 941-5675 or Kevin.Higgins@newforceep.com.