Parts Express Owner Sells Business, Retires

ryanosaur

ryanosaur

Audioholic Overlord
Saw this on ASR:

All doom and gloom aside, the short of it is that after 39 years of running the business they decided the time was right to call it a day.

Looks like the B&M storefront is closed but internet sales continue. Time will tell what the new owners will do... Stay tuned.
 
lovinthehd

lovinthehd

Audioholic Jedi
Makes me wonder if he even had any other offers. I guess family didn't want it?
 
H

highfigh

Seriously, I have no life.
Makes me wonder if he even had any other offers. I guess family didn't want it?
I think it would be a long shot to have a kid who's as interested in what they offer as the founder and they would need to look at it as a long term career. I really hope someone picks up where this may leave off- I haven't had great interactions with Madisound in the last 35 years and PE has just about the best product mix WRT speaker components, kits, etc.

I just called and spoke with someone in commercial sales (to dealers) and he said it's business as usual.
 
Verdinut

Verdinut

Audioholic Spartan
Saw this on ASR:

All doom and gloom aside, the short of it is that after 39 years of running the business they decided the time was right to call it a day.

Looks like the B&M storefront is closed but internet sales continue. Time will tell what the new owners will do... Stay tuned.
But there's no mention about Dayton Audio's future. There would be a great loss should this firm close.
 
lovinthehd

lovinthehd

Audioholic Jedi
I think it would be a long shot to have a kid who's as interested in what they offer as the founder and they would need to look at it as a long term career. I really hope someone picks up where this may leave off- I haven't had great interactions with Madisound in the last 35 years and PE has just about the best product mix WRT speaker components, kits, etc.

I just called and spoke with someone in commercial sales (to dealers) and he said it's business as usual.
Don't know if he even had a family involved, or that his employees constituted a family of sorts. Just that selling out to equity firms is just a way of shitting on it.
 
H

highfigh

Seriously, I have no life.
Don't know if he even had a family involved, or that his employees constituted a family of sorts. Just that selling out to equity firms is just a way of shitting on it.
Quite a few people were there for a very long time- I opened my account close to 20 years ago.

All I can say is that if the new owners treat it like a thing to be parted out and closed, it will just be another stupid decision.

Great. I just did a quick search and the new owner is Parts Town, which sells OEM parts for appliances, among other things. That's just super.
 
lovinthehd

lovinthehd

Audioholic Jedi
Quite a few people were there for a very long time- I opened my account close to 20 years ago.

All I can say is that if the new owners treat it like a thing to be parted out and closed, it will just be another stupid decision.

Great. I just did a quick search and the new owner is Parts Town, which sells OEM parts for appliances, among other things. That's just super.
Parts Town may be the organization that private equity owns and found most appropriate? Private equity has limited foresight most likely, tho.
I've been buying from them for 20 years myself. Like to know more, as well as how the Dayton portion will be treated.
 
j_garcia

j_garcia

Audioholic Jedi
Been buying from there for at least 20 years also. Hopefully they keep it running as is.
 
jinjuku

jinjuku

Moderator
Welp. That's an end of an era. Spent plenty of $$ with them over the years but not in the past 3 since I'm pretty well set on my audio for awhile.
 
S

shadyJ

Speaker of the House
Staff member
Parts Express built a community around DIY Audio that isn't quite like anything else. And the way they ran their business felt old-fashioned to me, in a good way. Sure, they had stuff made in China, but the design work and product support happened in the USA. If the new owners want to squeeze some short-term dollars out of PE, that is probably where they will start. I would guess a good chunk of their staff's time is spent supporting the community that they built, but that isn't directly quantifiable on a spreadsheet - however, it is a big part of PE's success. I hope the new owners continue to support the PE DIY community. The techtalk forum and the speaker design competition are big parts of that. I was privileged to be a judge at the last speaker design competition, and the enthusiasm and sense of community are real. All of that needs to be continued or PE will become just another internet retailer.

My guess is that the tariffs really helped to finalize the decision for its owner. It can't be easy to import and sell ultra-affordable manufactured goods which already have a thin profit margin when the tariffs are taking a big chunk out of each sale. I want to be hopeful that the new owners will not make any big changes - I know and have met many of the people who work there, and they are very nice and very knowledgeable people.
 

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