Parts Town, the technology innovator and market-leading distributor of original equipment manufacturer (OEM) foodservice, residential appliance and HVAC equipment repair parts, announced 25% year-over-year organic revenue growth for the first three quarters of 2022.
Parts Town has continued to build momentum throughout 2022, including continued high organic growth in its new Parts Town Home division, which provides OEM replacement parts for residential appliances through brands like Encompass. Overall, the company expects revenue to grow to over $1.9 billion this year, up from $1 billion in 2021, driven by continuous innovation, strategic acquisitions, international expansion, new global partnerships and master distribution programs with industry-leading manufacturers.
“Parts Town’s continued high growth is driven by our commitment to innovation and serving the rapidly evolving needs of our customers,” says Steve Snower, Town Troublemaker, aka CEO, of Parts Town. “In addition to continuing to support the restaurant and foodservice industry with the critical OEM replacement parts they need to thrive, we have also significantly expanded our residential parts offering. Our growth creates new opportunities for Parts Town to invest in talented people, technology and infrastructure to allow us to better support the needs of our customers. As we continue to grow, we remain committed to our core values of safety, integrity, community, passion, courage, and innovation which guide everything we do.”
In the past six months, the company has continued to expand its Parts In Town offering, an ecommerce solution designed to help local service companies and distributors grow their businesses, further improve equipment up-time in the foodservice industry, and promote growth of genuine OEM part sales locally. Parts In Town enables local service companies and distributors to benefit from Parts Town’s technology investments. There are now almost 100 Parts In Town locations across North America that sell their OEM parts inventory on partstown.com and provide end user customers with the ability to pick up parts locally.
“Service and parts companies do an excellent job providing local availability of equipment parts,” states Emanuela Delgado, President, Red Lightning Group, the innovation division of Parts Town. “Parts In Town allows local service partners to promote their parts digitally, grow parts sales, and earn new customers.”
Parts In Town’s growth includes a recently announced pilot program with Uber Technologies to provide two-hour, last-mile delivery service. The partnership represents the industry’s first collaboration between a parts distributor and a ride-sharing provider to offer replacement parts delivery. The plan is to expand this program nationally following the pilot program.
The Parts Town Marketplace, built on the same technology backbone that underpins Parts In Town, provides customers an online, one-stop shopping experience for OEM parts outside of the foodservice category as well as items and products across a variety of new categories, eliminating the need for customers to visit multiple websites to find the parts and equipment they need. Products include everything from foodservice apparel and uniforms to smallwares, janitorial supplies, residential appliance parts and more. Since its launch in 2021, the Parts Town Marketplace has scaled to nearly 10,000 orders per month.
Parts Town also celebrated 215,000 downloads of its smartphone app, the first and number one mobile app in the industry for locating and ordering OEM replacement parts. The Parts Town app offers a growing portfolio of innovative tools, including:
- Order History and Tracking: Find your stuff, refer to past orders and check the status of current orders.
- Live Chat: Get some help from a friendly Parts Expert in real time, 8 a.m. to 9 p.m. ET, Monday through Friday.
- Quick Search: Search by manufacturer, model and/or part category all in one place to swiftly narrow your search.
- Knowledge Center: Find and download reference materials, from OEM manuals to pinch-and-zoom interactive diagrams.
- Synchronized Shopping Cart: When logged in, parts added to your cart in the app are visible on the website and vice versa.
- Expanded Global Manufacturer Partnerships and Distributor Programs
In May, Parts Town announced that Kevin Fink joined the team as Senior Vice President, Global Manufacturer Partnerships. In this newly created role, Fink focuses on building deep global partnerships with the industry’s leading manufacturers with an emphasis on improving the customer experience, growing OEM parts sales, and supply chain simplification.
Since its founding, Parts Town has been committed to providing its customers with quick, reliable access to OEM parts. As a result of its continued expansion, Parts Town has seen major growth in its distribution programs. The company has the most in-stock OEM parts in the industry from over 1,100 manufacturers. Parts Town has added 17 new master distribution programs so far in 2022, bringing the total to 215 programs, to ensure the highest inventory availability for its customers.
In August, Parts Town was recognized on the Inc. 5000 Fastest Growing Private Companies in America list. This marked the 14th consecutive year that Parts Town was named on this prestigious list.
Parts Town also won the “Grow Bigger” Platform Pioneer Award at this year’s Mirakl Summit for its Marketplace, which honors “Platform Pioneers” that have achieved hypergrowth with their marketplaces, showing strong year-over-year growth and strategies to pave the way for even more scale.
Parts Town was also ranked the 75th largest privately held company in Chicago on the Crain’s Chicago Business Largest Privately Held Companies list.
Most recently, Parts Town was named Equipment Vendor of the Year by International Dairy Queen Inc., the parent company of American Dairy Queen Corporation, franchisor of the DQ® restaurant system. The award is granted annually to a DQ vendor that goes above and beyond to provide quality equipment to DQ franchise owners while serving as a key resource throughout the year.
News and information presented in this release has not been corroborated by WTWH Media LLC.