PARTS iD Launches as Public Company Following Legacy Acquisition Corp. Merger

A major restructuring in the automotive e-commerce space has come to fruition. Legacy Acquisition Corp. (NYSE: LGC), a publicly-traded special purpose acquisition company, has successfully merged with Onyx Enterprises Int’l Corp., the operator behind the automotive digital marketplace CARiD.com. The resulting entity, now trading under the ticker “ID” on NYSE American starting November 23, 2020, marks a significant milestone for the combined organization.

What the Merger Means for PARTS iD

Under its new corporate identity, PARTS iD, Inc. enters the public markets as a technology-driven commerce platform targeting niche, complex product categories. The company has positioned itself strategically within the $400+ billion automotive aftermarket industry—a sector characterized by fragmentation and outdated purchasing processes.

Antonino Ciappina, Chief Executive Officer, emphasized the broader vision: “Our approach combines proprietary fitment data with an expansive catalog and streamlined fulfillment to solve long-standing discovery challenges for consumers shopping in this traditionally complicated market.” The company’s competitive advantages rest on over a decade of technological development, advanced product data capabilities, and a highly engaged customer base.

The Investment Case

Edwin Rigaud, Chairman and Chief Executive Officer of Legacy, highlighted why this transaction positions the company favorably: “The business operates with a lean cost structure and inventory-efficient model that scales well, creating substantial runway for profitable expansion.” This capital-light approach represents a departure from traditional automotive retail, where margin pressures have historically been severe.

Prashant Pathak, Chairman of PARTS iD, added perspective on the broader implications: “Beyond the automotive vertical, we see opportunity to apply this infrastructure model to other complex, multi-dimensional parts and accessories markets.” The company intends to maintain its long-term strategic orientation despite entering public markets, maintaining continuity in technology investment and capital allocation decisions.

Market Position and Growth Trajectory

Since its founding in 2008, PARTS iD has established itself as a recognized brand within automotive e-commerce, built on a foundation of comprehensive product accuracy and continuous digital innovation. The business structure—combining proprietary data advantages with unmatched product breadth—addresses a persistent market inefficiency where consumers struggle to identify correct parts compatibility.

The public listing comes at a moment of accelerating e-commerce adoption across traditionally brick-and-mortar sectors. Management views this transition as enabling the company to pursue growth both within core automotive categories and into adjacent markets where similar data complexity and fulfillment challenges exist.

Forward-Looking Considerations

The company notes standard forward-looking risks including supply chain vulnerabilities, competitive pressures from potential new entrants, intellectual property protection challenges, and macroeconomic factors including trade policy impacts. The merger is structured to provide both the capital base and public market credibility to navigate these dynamics while pursuing sustainable profitability.