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COMPETITION WATCHDOG TO INVESTIGATE ANDREW PAGE TAKEOVER

COMPETITION WATCHDOG TO INVESTIGATE ANDREW PAGE TAKEOVER

The Competition and Markets Authority is to probe the recent acquisition of Andrew Page by Euro Car Parts.

The case was opened on October 14, but no start or end date for the inquiry  has yet been announced.

Full details on the investigation, including the contact for any representations can be found on the CMA website here. 

 

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GROUPAUTO SHOW NEWS: TOTAL JOINS BUYING GROUP

GROUPAUTO SHOW NEWS: TOTAL JOINS BUYING GROUP

Lubricant manufacturer TOTAL has joined Groupauto (GAU) and United Aftermarket Network (UAN) as an approved supplier.

The agreement means that members of the buying groups will benefit from the support and services offered by the lubricant firm.

Jim Gross, Supplier Manager UK Trading Group at GAU and UAN said: “TOTAL’s OEM expertise and motorsport pedigree, with the likes of the Red Bull F1 team, the World Rally Championships and Aston Martin Racing has resulted in a great deal of innovation, which is clear to see in their high product quality lubricants. Added to this is the reliability of UK manufacturing, which is very important to motor factors who want the best for their customers.”total

The brand officially launched to the buying group’s members last Friday, October 7 at the GAU Trade Show, held in the Exhibition Centre, Liverpool.

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ANDREW PAGE TAKEOVER: STATEMENT FROM ECP PARENT

ANDREW PAGE TAKEOVER: STATEMENT FROM ECP PARENT

Following the news earlier this morning that ECP parent company, LKQ holding is to acquire Andrew Page, the following statement has been issued by LKQ:

“LKQ Corporation today announced that its United Kingdom subsidiary, Euro Car Parts, has acquired substantially all the business assets of Andrew Page Limited, a distributor of automotive parts in the United Kingdom. As part of the transaction, Euro Car Parts will acquire 102 Andrew Page branch locations, its national distribution centre and corporate office. 

UK C.E.O. Martin Gray said “I am delighted to confirm that the future of the Andrew Page business has been secured, which celebrates its UK centenary next year. We remain committed to assuring that the iconic Andrew Page “Brand” continues to thrive and will remain separate from Euro Car Parts, but will benefit from our UK infrastructure, inventory and the financial support from the LKQ Corporation.” 

Gray added “I am thrilled to confirm that Mark Saunders will remain as Managing Director of Andrew Page and we are committed to retaining all team members – they are the DNA that makes Andrew Page so uniquely special.  We very much hope that Andrew Page’s customers will continue to support Andrew Page, partnering with them to ensure that the Andrew Page proposition, that they rely upon and love, continues to meet their current and future requirements”.  

UK Chairman and LKQ Board Member Sukhpal Singh Ahluwalia added “As a competitor, I have always had the greatest respect and admiration for Andrew Page and the brand. So today, I’m absolutely delighted to welcome them into the LKQ family. The acquisition by LKQ firmly demonstrates our ongoing commitment to the UK market, which includes their investment in the Euro Car Parts brand new 1.6M sq. ft. distribution centre, located in Tamworth and our recent acquisition of Arleigh, a specialist leisure wholesaler.”

We’ll bring you more developments on this story as they occur.

 

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BREAKING: ECP PARENT ACQUIRES ANDREW PAGE

BREAKING: ECP PARENT ACQUIRES ANDREW PAGE

Following yesterday’s news that Andrew Page was on notice of intent to appoint administrators.

A statement from the company reads as follows:

 

Andrew Page today announces its sale to LKQ Corporation (LKQ) in a strategic acquisition by the US buyer. 

The purchaser, an S&P500 company listed on Nasdaq, is a leading motor parts distributor in the US and the owner of Euro Car Parts in the UK.

Leeds-based Andrew Page is a major distributor of quality auto parts, workshop equipment, tools and diagnostics, primarily to independent garages. Founded in 1917, the company has 109 sites and over 2,000 full time and part time staff. It had sales of £192m in the financial year ending September 2015. 

Jim Sumner, chairman of Andrew Page, said: “The strategic acquisition by LKQ recognises that Andrew Page is a strong business with a historic brand. 

“We are pleased at the completion of the sale, which brings the business and its employees into a global group with more than $6 billion in sales.

“The investment also highlights the continuing attractiveness of British businesses for foreign buyers.”

LKQ is buying substantially all of the assets and operations of Andrew Page, except for seven of the company’s 109 branches.

Mark Saunders, chief executive of Andrew Page, said: “This is a great deal for Andrew Page and its employees and puts us in a strong position for the future.

“We are looking forward to working with LKQ and Euro Car Parts at an exciting time for the motor parts sector, which is undergoing consolidation throughout Europe.”

Andrew Page made a number of significant investments in the last financial year, including £1m in a new state-of-the-art telephony system, continued upgrades to its van fleet and new infrastructure at its national distribution centre in Markham Vale. Andrew Page also acquired the Solid Auto brand and business in March 2016.

As part of the sale process, administrators from PwC were appointed to Andrew Page Limited, Solid Auto (UK) Limited and Colton Parts Company Limited on October 3 and immediately concluded a pre-packaged sale of the business and assets of each company to the purchaser.

 

We’ll bring you more news as it breaks.

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ANDREW PAGE: STATEMENT FROM COMPANY

ANDREW PAGE: STATEMENT FROM COMPANY

BREAKING: Andrew Page has issued the following statement in response to the earlier story.

“The management team of Andrew Page has been working with PwC to explore strategic options for the company, including a potential sale of the business. This process is near completion and the company expects to make an announcement soon.

As a precautionary measure the company filed a Notice of Intention to Appoint Administrators on September 22. This notice provides an initial period of up to 10 working days during which the team can focus on completing the sale process.

The company expects the sale process to conclude imminently at which stage it will be able to update all staff and customers”.

Further news will be posted as it breaks.

 

 

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ANDREW PAGE FILES NOTICE OF INTENT TO APPOINT ADMINISTRATORS

ANDREW PAGE FILES NOTICE OF INTENT TO APPOINT ADMINISTRATORS

BREAKING NEWS: Andrew Page has filed a notice of intention to appoint administrators at Manchester High Court.

CAT has confirmed with the court that the notice, filed on September 22, lists PWC as the chosen receivers, but no statement from either parties has yet been made.

 

Updates will follow as soon as they occur.

 

 

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HOUSE OF LORDS LAUNCH DRIVERLESS VEHICLE INQUIRY

HOUSE OF LORDS LAUNCH DRIVERLESS VEHICLE INQUIRY

House-of-LordsThe House of Lords science and technology committee has launched an inquiry into future uses of driverless vehicles in the UK.

This inquiry will collect evidence on the potential uses and benefits of autonomous vehicles in contexts such as road transport, farming and space exploration, according to the IAAF.

The committee is seeking written evidence from as wide an audience as possible and across a whole range of possible applications from cars to public transport.

Lord Selborne, committee chairman, said: “Rapid progress is being made in the development of these vehicles.

“Autonomous vehicles are being developed for a range of different purposes and have the potential to bring great benefits across a range of different sectors, for example in farming.

“We will examine what the Government is doing to support research into developing autonomous vehicles in the UK, as well as the real-world implications as these vehicles start to appear on the roads and in the work place.

“If the UK is to be at the forefront of this transport revolution, investment into research is vital to ensure the technology is perfected, allowing the public to embrace the use of autonomous vehicles.

“There are potentially considerable economic opportunities and public good benefits from this technology.

“We will look at whether the Government’s actions are appropriate in supporting these opportunities” he concluded.

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SPARTAN LEAVES PARTS DISTRIBUTION PARTNERSHIP FOR IFA

SPARTAN LEAVES PARTS DISTRIBUTION PARTNERSHIP FOR IFA

SPARTAN

Newport-based Spartan has announced that it has joined the IFA buying group.

The factor had previously been a member of the Parts Distribution Partnership (PDP) but was one of five members to leave the group in August.

The move must have come as a blow to the PDP as it has lost five out of twenty-one members  in just a few weeks. It had already lost Panks of Norwich, which rejoined GroupAuto. More significantly, founder members Pat Williams, Partservice and Carspares Factors London left the group on the same day.

While no party has commented on reasons for leaving the PDP, Spartan is delighted to be joining the IFA. “It seems to be a good fit for both us and the IFA” said Lee Gratton, a Director at Spartan. “We’re really looking forward to dealing with some new suppliers who they are aligned with”.

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FPS, APEC AND BTN TURBO TO BE SOLD TO GAU PARENT

FPS, APEC AND BTN TURBO TO BE SOLD TO GAU PARENT

FPS-Lookers-AllianceDealership chain Lookers PLC has pencilled a deal to sell it’s parts businesses to Alliance Automotive Group for a reported £120m. The business consists of the brands Apec Braking, BTN Turbo and FPS.

Alliance Automotive Group is an investment firm with many interests in automotive distribution throughout Europe, notably GroupAuto in the UK.

Lookers CEO Andy Bruce said: “I am pleased to announce this conditional agreement which the board believes is in the best interests of the shareholders”

Neil Davis, the MD in the Parts Division at Lookers will remain within the Parts Division of AAG. This means he will no longer be on the board of Lookers when the deal completes in October.

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ECP TAKEOVER OF ACCESSORY WHOLESALER ARLEIGH INTERNATIONAL

ECP TAKEOVER OF ACCESSORY WHOLESALER ARLEIGH INTERNATIONAL

ecparleighEuro Car Parts (ECP) has announced the acquisition of leisure retail supplier Arleigh Group – which operates under the trading names of Arleigh International, Nova Leisure and Midland Chandlers. Terms of the deal were not disclosed.

Arleigh, whose head office is based in Warwickshire, is a distributor of products and accessories to the UK Caravan, Holiday Home, Motorhome and Inland Marine markets offering over 13,000 product lines to its customers.

Martin Gray, CEO of ECP said: “With the purchase of Arleigh, we not only gain the expert knowledge from the highly trained and knowledgeable employees, but more excitingly see the Euro Car Parts customer proposition widen further, bringing our market leading distribution efficiencies and pricing to the most important people, our customers. The Leisure sector presents an ideal growth opportunity and we are delighted to have gained a well-respected, market leading supplier in this field”.

Sukhpal Singh, U.K. Chairman and LKQ Board Member added: “We are looking forward to growing the Arleigh brand further and welcoming the passionate Arleigh community into the unique Euro Car Parts family”.

Alastair Thomas of Arleigh stated: “We are delighted to enter into an ownership with LKQ and Euro Car Parts. Currently we see so many best practices that we can share, which will ultimately end up in the consumer benefiting, whilst protecting current supply agreements”.

ECP has stated that the plan ‘heralds the next chapter’ in its expansion of the Specialists Products Divison.

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