Parts Town Unlimited Announces 20% Organic Revenue Growth in Q1, Expects $2.4 Billion Revenue for 2023
Parts Town Unlimited, the parent company of Parts Town, a global leader in the high-tech distribution of OEM foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products, today announced 20% organic revenue growth in Q1 2023. The company expects to reach $2.4 billion revenue for the full year, compared to $1.8 billion in 2022.
Parts Town Unlimited now has nearly 50 unique brands across the globe and has grown to more than 5,300 team members worldwide. The company's continued high growth potential is fueled by its expansion to new product categories including HVAC parts, the addition of new master distribution programs, strategic acquisitions and industry leading innovation initiatives.
"We have further amped up our ambition and investment in talent and technology in recent years. We see an opportunity to innovate across several mission critical parts categories, delivering a unique customer experience and partnering closely with manufacturers to grow OEM parts share, simplify operations, and improve equipment up time. We are proud of the amazing work that our Townspeople are doing and will always stay committed to our core values as we continue to grow," said Steve Snower, Sixth Man (aka CEO), Parts Town Unlimited.
Expansion to HVAC
In April 2023, Parts Town announced the launch of its HVAC parts category to include air handler parts, condensing unit parts, packaged unit parts, and more. Parts Town now supplies an extensive range of parts and accessories from top manufacturers such as Carrier, Fast OEM Parts, Trane, Lennox, York and Heatcraft, among others.
HVAC service technicians, facility managers, and business operators can now purchase their needed HVAC parts faster than ever before, with all in-stock orders shipping the same day until 9 p.m. ET Monday to Friday, and until 4 p.m. ET on Saturday.
Digital Growth
In 2022, Parts Town's digital channels delivered more than 70% of Parts Town's total revenue. The Parts Town app, which is the industry's leading mobile app that allows customers to easily and conveniently find and view equipment manuals and parts in the field, grew to 247,000 downloads in 2022.
Parts Town Unlimited plans to continue this digital momentum, with a goal of orchestrating and delivering a frictionless end-to-end customer experience, along with new innovations.
Master Distribution Program Expansions
In 2022, Parts Town Unlimited added more than 30 new master distribution programs across the full group. The master distribution partnerships are what allow Parts Town Unlimited's Divisions to provide and deliver its promise of same-day shipping and local pickup of mission-critical replacement parts to its growing customer base.
Strategic Acquisitions Fueling Growth
Over the past eight years, Parts Town Unlimited has acquired 28 organizations, vaulting its global reach to 149 locations and 171 countries served. Parts Town Unlimited also fueled growth through acquisitions to help support the organization's expansion into the residential appliance parts distribution industry, including organizations such as Encompass Supply Chain Solutions, which continues to deliver high growth and develop deep manufacturer partnerships.
Rising Industry Recognition
As a result of its growth and momentum, Parts Town Unlimited advanced to 52nd on Crain's Chicago Business' Largest Privately Held Companies List in 2023, which recognizes the largest private companies in the Chicago area and ranks them by annual revenue and team member growth. The company was ranked 75th in 2022.
About Parts Town Unlimited
Parts Town Unlimited is the global leader in high-tech distribution of mission-critical equipment replacement parts and related products and services for the foodservice, residential appliance and HVAC industries. Guided by its core values of Safety, Integrity, Community, Passion, Courage, and Innovation, Parts Town Unlimited delivers infinite possibilities, unlimited potential, and boundless innovation with a focus on people, innovation, and long-term partnerships. Parts Town Unlimited is an organization without limits, led by dreamers who continuously grow and bring value to our partners and amazing opportunities to our team members around the globe.
About Parts Town
Parts Town is the leading, technology innovation-driven distributor of genuine OEM (original equipment manufacturer) foodservice, residential appliance and HVAC equipment repair parts. When there's a hiccup with any piece of equipment, Parts Town is ready to jump in and help with the most in-stock parts on the planet, innovative technology, and an unmatched customer experience. Customized solutions benefit equipment service technicians of all kinds, as well as chain and independent restaurants, schools, health care facilities and hospitality providers.
By partnering with the top manufacturers of foodservice, residential appliance and HVAC replacement parts, Parts Town improves the supply chain, increases sales of genuine OEM parts and keeps every customer's business running like clockwork. Parts Town also partners with equipment and supplies dealers of all sizes to offer a one-stop-shop through its Parts Town marketplace.
For more information, visit https://www.partstown.com/.
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