CarParts.com secures strategic investment from ZongTeng Group

CarParts.com (PRTS) announced that it has secured a strategic investment from ZongTeng Group, a world-class distribution and logistics powerhouse, A-Premium, a recognized global leader in mechanical parts procurement, marketing and e-commerce, and CDH Investments, a highly respected asset manager. As part of the transaction, ZongTeng Group, A-Premium, and CDH Investments will invest a total of $35.7M into CarParts.com. This capital infusion not only strengthens the company’s balance sheet but also provides flexible, low-cost growth capital to fund strategic initiatives. CarParts.com will leverage these resources to expand its product assortment, enhance its customer experience and accelerate key operational improvements, positioning the company to better serve its customers while driving long-term growth and profitability.