Parts Town grows revenue 20% in first quarter

ADDISON - Parts Town Unlimited said Wednesday it expects to reach $2.4 billion revenue for the full fiscal year, compared to $1.8 billion in 2022.

The company said organic revenue - or revenue gained from sources outside of company acquisitions - grew 20% in the first quarter.

The company's continued high growth potential is fueled by its expansion to new product categories including HVAC parts, the addition of new master distribution programs, strategic acquisitions and industry leading innovation initiatives, the company said.

Addison-based Parts Town is a global distributor food service equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products.

In April, Parts Town announced the launch of its HVAC parts category to include air handler parts, condensing unit parts, packaged unit parts and more. Parts Town now supplies an extensive range of parts and accessories from top manufacturers such as Carrier, Fast OEM Parts, Trane, Lennox, York and Heatcraft, and others.

"We have further amped up our ambition and investment in talent and technology in recent years," said Steve Snower, CEO of Parts Town.

In 2022, Parts Town's digital channels delivered more than 70% of Parts Town's total revenue. The Parts Town app, which is an industry-leading mobile app that allows customers to conveniently find and view equipment manuals and parts in the field, grew to 247,000 downloads in 2022.