Vardis is Proud to Support Power Stop & Sterling Investment Partners in Appointing Joseph Stephan as Chief Operating Officer.
Power Stop LLC the leading provider of performance braking solutions is pleased to announce that Joe Stephan has been appointed to the newly created position of Chief Operating Officer.
Joe brings more than 25 years of experience to his new role, having most recently served as Vice President, Business Development at Federal-Mogul. Previously, he held various positions of increasing responsibility including director, Global Chassis Products; director, Key Account Sales; and Global Director, Product Management. Prior to joining Federal-Mogul in 1999, Stephan held sales and marketing positions with Tenneco for the Monroe and Walker Brands.
“Joe comes to Power Stop with lots of industry knowledge and experiences that we believe will be beneficial to our ongoing success,” said Arvin Scott, CEO of Power Stop LLC. “Over the years, he has gained respect from his team members and customers in the many roles that he has served in. We are excited to have landed an executive with Joe’s record of success to the Power Stop team. Joe will report to me and work closely with me in all aspects of the Power Stop business.”
“Power Stop’s team has an exceptional reputation for five star customer service and product innovation”, said, Joe Stephan. “I am excited to help lead the company in pursuing its next phase of operational excellence in all facets of its business.”
Power Stop is a leading supplier of performance-upgrade-quality aftermarket brake products, with a focus on selling through online channels to do-it-yourself (“DIY”) and install-it-for-me (“IIFM”) consumers. Approximately two-thirds of the Company’s revenue is through leading online retailers, such as Amazon and Rockauto.com, and marketplaces, such as eBay. E-tail sales of automotive parts are growing rapidly as consumers increasingly shop online for their aftermarket parts. Power Stop sources pads, rotors, calipers, shoes and pad wear sensors from suppliers with a reputation for quality, and assembles in one package all the parts required to replace front and/or rear brakes, providing consumers its convenient “1-Click Brake Kit”.
Sterling Investment Partners (“Sterling”) has in excess of $1.0 billion of equity capital under management, which includes significant investment from Sterling’s professionals. Throughout its almost 25-year history, Sterling has exclusively focused on investing in the middle market and working in partnership with management teams to build value.