Francisco Partners has agreed to acquire a majority stake in OEConnection (OEC), a US-based automotive software company, from Genstar Capital. 

The transaction marks the technology-focused private equity firm’s latest investment in digital platforms serving the industrial and mobility sectors.

Founded in 2000 as a partnership between Ford and General Motors, OEC provides software and data solutions that form the digital backbone of the automotive aftersales ecosystem. Its platform connects automakers, dealerships, and repair shops, helping streamline parts distribution and vehicle repair processes.

OEC operates in six countries, employs 1,500 people, and serves a network of 45 manufacturers, 30,000 auto dealers, and 135,000 wholesale customers worldwide.

“Joining forces with Francisco Partners positions OEC to build on our strong momentum and further strengthen the value we deliver to our customers and partners,” said Patrick Brown, Chief Executive Officer of OEC. “Our transformative partnership with Genstar has enabled us to significantly expand our offerings in collision and mechanical repair, accelerate innovation, and grow our network globally.”

Genstar, which first invested in OEC in 2016, will retain a minority stake alongside Ford and General Motors.

“As the industry undergoes a generational and technological shift, OEC is uniquely positioned as a trusted partner that can deliver greater connectivity, efficiency, and profitability across the ecosystem,” said Petri Oksanen, Partner at Francisco Partners. 

Francisco Partners has been one of the most active private equity firms in technology investing, with more than $50bn in capital raised and over 500 technology companies backed globally.

Evercore acted as exclusive financial advisor and Ropes & Gray as legal counsel to Genstar. Citi and TD Securities served as financial advisors, and Paul Hastings provided legal counsel to Francisco Partners.

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