Genstar completes acquisition of a majority stake in OEConnection from Providence.

Genstar Capital, a leading private equity firm completes acquisition of a major stake in OEConnection, the leading global automotive technology provider for OEM distribution networks from Providence Equity Partners. Financial terms were not disclosed. As part of the transaction, current investors Ford Motor Company and General Motors will each retain their minority investments in OEC. “We are thrilled to join forces with Genstar as we continue to work to expand the OEC footprint and our product and service offerings for customers across the globe,” Chuck Rotuno, OEC Chairman and CEO.