Automotive Aftermarket M&A Newsletter — October 2026

Nov 1, 2026 | Newsletters

Aftermarket dealmaking stayed active through Q3 2026, led by Mavis’s roughly $700 million agreement to buy Pep Boys and a run of distribution and brand acquisitions. Buyers are paying for scale in non-discretionary service and parts while the broader automotive deal market remains selective.

Market snapshot

Demand fundamentals are intact: the U.S. aftermarket is forecast to reach about $600 billion in 2026 and the fleet keeps aging. Deal counts are steady, but deal value across automotive is well below 2025.

MeasureLatest readingSource
U.S. aftermarket, light and heavy duty, 2026 forecast$599.7 billionAuto Care Association / MEMA Aftermarket
U.S. light-duty aftermarket, 2026 forecast$457 billion, up 5.2%Auto Care Association / MEMA Aftermarket
U.S. heavy-duty aftermarket, 2026 forecast$142.9 billionAuto Care Association / MEMA Aftermarket
Global aftermarket, 2026 forecast$2.65 trillionAuto Care Association / MEMA Aftermarket
Average U.S. light-vehicle age (2025 study)12.8 years; passenger cars 14.5, light trucks 11.9S&P Global Mobility
Completed global automotive M&A deals99 in Q1 2026, 95 in Q2 2026Clearwater
North American automotive EV/EBITDA multiples, Q2 2026 vs Q1Up 8.2%Clearwater
U.S. automotive M&A deal value, Q1 2026 vs Q1 2025Down 60%PwC

The deal-count and multiple figures cover the whole automotive sector, not the aftermarket alone. Clearwater names aftermarket transactions as a main driver of activity in both quarters.

Headline transactions

Mavis–Pep Boys is the largest announced aftermarket deal of the year to date; most other activity is add-on scale in distribution, service and brands.

AnnouncedBuyerTargetSegmentDetails
Aug 11, 2026Parts AuthorityNPW CompaniesParts distributionAdds 46 locations and five new states; combined network of nearly 325 locations. Terms not disclosed.
Aug 2026RealTruckLEER Group (from JB Poindexter & Co.)Truck accessoriesIncludes SnugTop, Century, Pace Edwards and StateWide Windows. RealTruck cited LEER’s financial strain. Terms not disclosed.
Jul 2026Mavis Tire Express ServicesPep Boys (from Icahn Enterprises)Tire and serviceAbout $700 million in cash for nearly 800 locations; Mavis network grows to more than 4,400 service centers. Icahn keeps the real estate, AAMCO and Precision Tune. Pending close.
Jun 2026Friction OneRaybestos brand (First Brands Group bankruptcy)Brake partsBrand, formulations and engineering data; first products under new ownership expected in Q4 2026.
Jun 17, 2026Premium GuardFirst Brands Group assets, phase 2Filtration and wipersFilter production lines, an R&D center and a 730,000 sq ft Kentucky distribution center; close to 300 jobs reinstated.
Q2 2026Alliance Automotive Group (Genuine Parts)Recambios OchoaParts distribution, SpainFollows the Q1 purchase of Ireland’s G.C. Autospares.
Jan 27, 2026Straightaway Tire & Auto (O2 Investment Partners)Silverlake AutomotiveRepair and serviceFive-location Idaho brand; Straightaway’s fifth brand.
Jan 2026 (closed)Boyd Group / Gerber Collision & GlassJoe Hudson’s Collision CentersCollision repair$1.3 billion; 258 locations; Boyd now has more than 1,300 locations.

Also announced in 2026: Fisher Auto Parts acquired Smyth Automotive (KPMG), Left Lane Auto bought six-location Don Foshay’s Discount Tire & Alignment (PrivSource), and Holley added Italian racewear brand HRX (S&P Global).

What is driving deals

Service platforms are buying scale. Mavis gains a Western U.S. footprint and Pep Boys’ distribution network in one transaction. Smaller sponsor-backed platforms such as Straightaway and Left Lane Auto keep adding regional tire and repair chains.

Distribution roll-ups continue on both sides of the Atlantic. Parts Authority’s NPW purchase came one day after it opened a 450,000 sq ft Mississippi distribution center. Genuine Parts’ European arm bought distributors in Ireland and Spain in consecutive quarters.

First Brands’ collapse is redistributing well-known brands. First Brands filed for Chapter 11 in September 2025 and began winding down Brake Parts Inc., Cardone and Autolite in January 2026. Premium Guard and Friction One have since picked up brands, production assets and engineering resources through the bankruptcy process.

Collision consolidation slowed sharply. Consolidators added 81 locations in the first half of 2026, down from more than 200 a year earlier and more than 300 in the first half of 2024, according to Focus Advisors. That count excludes the 258-location Joe Hudson’s deal. Regional platforms are still growing: CollisionRight reached its 100th shop, per BodyShop Business.

Trade policy remains the main valuation variable. PwC attributes the drop in automotive deal value to tariffs, financing headwinds and valuation gaps. Clearwater notes the U.S. Supreme Court ruling that struck down the IEEPA tariffs as a source of continued uncertainty.

What to watch in Q4

  • Mavis–Pep Boys closing. The parties expected to close in the coming months, subject to customary conditions.
  • Raybestos relaunch. Friction One plans to ship its first Raybestos-branded friction, drums and rotors in Q4 2026.
  • AAPEX, November 3–5, Las Vegas. The industry’s main trade show is where many year-end conversations between buyers and sellers start.
  • Break-fix suppliers and distributors. Harris Williams expects these businesses to lead renewed M&A in aftermarket products.
  • Valuation gaps. PwC cautions sellers against assuming strategic bids will return at 2025 multiples.

This newsletter is for general information only and is not investment advice.

Sources