D&L Parts Company announces acquisition of Cashwell Appliance Parts of Fayetteville

By Staff Report, posted Aug 9, 2024 on BizFayetteville.com

Graphic pulled from the D&L Parts Company Facebook page.

D&L Parts Company ("D&L"), a family-owned leading distributor of appliance & HVAC parts and equipment has acquired Cashwell Appliance Parts, Inc ("Cashwell"), another wholesale distributor of HVAC and appliance parts headquartered in Fayetteville, NC.

Founded in 1972, Cashwell is a family-owned company renowned for its experienced professionals who are dedicated to delivering high-quality parts and exceptional service to its clients. With seven locations across North Carolina and four in Virginia, Cashwell has established a strong presence in these regions.

The acquisition of Cashwell will complement and enhance the service quality for D&L customers across its Mid-Atlantic and Southeast regions while offering an expansion opportunity for D&L in attractive long-term markets. With this acquisition, D&L will significantly bolster its mid-Atlantic and Southeast market position with 11 new locations This strategic combination will not only broaden D&L's reach but also optimize its product offering, supply capabilities and enhance its service to existing and new customers.

Susan Renegar, President of Cashwell, commented in a press release stating: "Cashwell has been in our family for decades and we had a lot of requirements we needed to see in a strong buyer for our business. We have always admired D&L and their operation and we could not be happier for the future of our employees, our customers and suppliers now that we have joined forces with this great company and their talented employees."

Rachel Nystrom, President at D&L, commented as well stating: "We are thrilled to welcome Cashwell Appliance to the D&L Parts family. This transaction represents a significant step forward in our mission to provide unparalleled customer service and on-demand inventory to our customers. Through our combined strengths we will deliver even greater value and support to the appliance, HVAC and multifamily maintenance industries."

Dvorak Law Group, LLC provided legal counsel to D&L and Uplift Partners acted as the exclusive financial advisor to D&L.

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