FinditParts Market Research Report

Overview

FinditParts is a leading e-commerce platform in the United States, specializing in the distribution of heavy-duty truck and trailer parts. Established in 2010 by industry veteran David Seewack, the company offers the largest selection of OEM and aftermarket parts in the country, boasting a catalog with over 10 million part numbers. FinditParts is dedicated to modernizing the complex industry of truck part identification and sourcing, facilitating seamless transactions to ensure vehicles return to the road rapidly.

Leadership and Key Team Members

The leadership team at FinditParts is pivotal in driving strategic vision, focusing on optimizing supply chain efficiency, customer success, and technological innovation to maintain its market-leading status.

• David Seewack: CEO & Founder

• Danny LaBare: Chief Technology Officer

• Chuck Ciarlo: Chief Customer Officer

• Malindi Davies: Chief Financial Officer

• Ron Hendrixson: Chief People Officer

• Ken Ingram: Vice President

• Kevin Lydic: VP of Business Development

• Joel Kassay: VP of Customer Success

• John Conte: VP of Supply Chain

• Nick Humphreys: VP of Growth

• Mohammad Wardak: Controller & Head FP&A

• John Hunter: VP Business Development

• Drew Kimball: Director of Financial Planning and Analysis

• Sarah Wilde: Director of Analytics

• Max James: Director of Corporate Marketing

Market Position and Financial Performance

FinditParts is recognized as the largest e-commerce platform for heavy-duty truck parts in the U.S., supported by a vast network of suppliers that offer competitive pricing and exceptional parts availability across 2,000 unique brands.

• Estimated Annual Revenue: $25.6 million

• Estimated Revenue Per Employee: $328,000

• Employee Count: 78 (with a 59% growth in employee numbers last year)

Funding and Investment

In May 2022, FinditParts secured a $30 million Series A growth equity investment from Crestline Investors, its first institutional funding since inception. This investment is targeted towards enhancing technology and digital content, team expansion, and pioneering advancements in parts taxonomy and visual recognition technologies. These developments are set to revolutionize how CVA parts are categorized and identified.

Strategic Partnerships and Recent Developments

• Exclusive Partnership with Diesel Laptops: As of June 2024, FinditParts is the primary online retailer for Diesel Laptops' suite of repair applications, aimed at streamlining heavy-duty truck repairs.

The company's dedication to advancing technology and expanding market reach is evident, with a 100% year-over-year revenue increase in Q1 2022, underscoring its growth trajectory.

Business and Customer Focus

FinditParts emphasizes customer satisfaction and operational excellence by offering verified inventory, genuine parts, an intuitive platform, guaranteed express shipping, and no-hassle returns, ensuring reliability for owner-operators, parts managers, and mechanics across the nation.

The company's customer-centric culture, bolstered by strategic development initiatives and partnerships, solidifies its standing as a formidable force in the commercial vehicle aftermarket industry.

Competitive Landscape

FinditParts faces competition from a broad spectrum of companies, ranging from direct competitors to industry overlaps and market entrants:

1. Direct Competitors:

• CarParts.com

• AutoAnything

• Steiner Tractor Parts

• TruckCenter.com

• Raney's

• Performance Products

2. Industry Overlaps:

• Auto Village

• Genuine Parts Company

• Longacre Racing Products

• Nivel Parts & Manufacturing

3. Market Entrants and Alternatives:

• AppliancePartsPros.com

• Mighty Auto Parts

• Nationwide Trailers

• CJ Pony Parts

• UCARS

4. Similar Market Positioning:

• Everything Truck Parts

• Parts for Trucks

Competitor Analysis

FinditParts distinguishes itself through its comprehensive selection of over 1,000 brands and its dual focus on OEM and aftermarket markets. Direct competitors such as CarParts.com and AutoAnything present extensive online catalogs, aligning with the diverse needs of the trucking industry.

In terms of financials, FinditParts is well-positioned within its peer group, supported by a strong revenue stream and a specialized market niche in heavy-duty vehicle parts.

Industry Position

Leveraging a robust supplier network, FinditParts maintains a significant edge in availability and customer service. Its strategic investments in technology integration, analytics, and supply chain management underpin a seamless user experience, supporting its leadership in the heavy-duty vehicle parts distribution sector characterized by significant revenue and employee growth.

FinditParts' expansive product offerings and customer-oriented services align with the growing demands for resilient supply chain solutions, positioning it as a leader in the commercial vehicle aftermarket industry.