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BREAKING: SPARTAN ACQUIRED BY MOTORMANIA PARENT

BREAKING: SPARTAN ACQUIRED BY MOTORMANIA PARENT

BREAKING: News has been confirmed that Spartan Motor Factors has been sold by the administrators at Deloitte to MWR Sales Limited. The following statement has just been released by Deloitte:

Richard Hawes and Matt Cowlishaw were appointed as joint administrators to Spartan Motor Factors Limited (“the Company”) on 13 March 2020. Following the appointment, the business was successfully sold to MWR Sales Limited on 18 March 2020.

READ: MotorMania chain bought by Tetrosyl

The Company is a motor parts business operating a central hub in Newport and ten other branches across South Wales and the South West serving over 1,400 customers. The Company employs 135 across its network.

READ: SPARTAN LEAVES PARTS DISTRIBUTION PARTNERSHIP FOR IFA

MWR Sales Limited operates the motor factors and retail businesses of Motor World, Motormania and Sparesworld. The Company’s employees will transfer to the new owner.

Richard Hawes, joint administrator, said: “We’re extremely pleased we managed to find a new owner for the business through these particularly challenging times. We’d like to thank the employees for their support and wish the new owners every success in the future.”

 

We’ll bring you more information on this breaking story as we get it.

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UNIPART WINS THREE-YEAR JLR LOGISTICS CONTRACT

UNIPART WINS THREE-YEAR JLR LOGISTICS CONTRACT

Unipart has won a three-year contract to operate Jaguar Land Rover’s new Battery Assembly Centre at Hams Hall in Birmingham.

 

The site, which will be among the largest such facilities in the UK when it opens later this year, will provide electric vehicle batteries for JLR’s Solihull and Castle Bromwich production lines.

John Neill heads Unipart Group

More than 100 Unipart employees will be stationed at the Hams Hall facility, providing logistical assistance in line with the VM’s just-in-time production model.

READ: BOSCH TO ACQUIRE UNIPART CAR CARE CENTRES

John Neill, CEO of the Oxfordshire-based supply chain specialist, said: “The future of the automotive industry is in electric vehicles, and this contract with Jaguar Land Rover sees Unipart playing a key role at the heart of Jaguar Land Rover’s plans for electrification.

“Unipart is uniquely placed to make a positive influence on the UK automotive industry’s electrification which is set for terrific growth. Hyperbat, our joint venture with Williams Advanced Engineering, is at the forefront of manufacturing batteries for high-performance electric vehicles.

“Our lean practitioners are already working with automotive manufacturers looking to bring electric vehicle production into their supply chain successfully, and we can continue to bring added value through our expertise in both in-production and aftermarket logistics.”

Unipart has already worked with JLR, producing bumpers for all non-current models to allow the VM to clear a significant production backlog.

READ: UNIPART WINS EXTENSION TO JLR PACKING CONTRACT

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BREAKING: INFOPRO TO ACQUIRE HAYNES PUBLISHING

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 

13 February 2020 

RECOMMENDED CASH ACQUISITION 

of 

Haynes Publishing Group P.L.C. (“Haynes”) 

by 

Infopro Digital (Holdco) Ltd (“Bidco”) a wholly-owned subsidiary of Infopro Digital Group B.V. (“Infopro Digital”) 

Summary 

  • The boards of Infopro Digital and Haynes are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Haynes by Bidco. The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act. 
  • Under the terms of the Acquisition, Haynes Shareholders shall be entitled to receive 700 pence in cash for each Haynes Share held, representing a premium of approximately: 
  • 62.4 per cent. to the closing price per Haynes Share of 431.0 pence on 12 February 2020 (being the latest practicable date prior to publication of this Announcement); 
  • 72.8 per cent. to the closing price per Haynes Share of 405.0 pence on 14 November 2019 (being the latest practicable date prior to announcement of Haynes’ Formal Sale Process); 
  • 67.5 per cent. to the volume weighted average price per Haynes Share of 418.0 pence for the three month period ended 12 February 2020 (being the latest practicable date prior to publication of this Announcement); and 
  • 120.1 per cent. to the volume weighted average price per Haynes Share of 318.0 pence for the twelve month period ended 12 February 2020 (being the latest practicable date prior to publication of this Announcement). 
  • The Acquisition values the entire issued ordinary share capital of Haynes at approximately £114.5 million on a fully diluted basis. 
  • The Haynes Directors, who have been so advised by Europa Partners as to the financial terms of the Acquisition, unanimously consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the Haynes Directors, Europa Partners has taken into account the commercial assessments of the Haynes Directors. Europa Partners is providing independent financial advice to the Haynes Directors for the purposes of Rule 3 of the Takeover Code. 
  • Accordingly, the Haynes Directors intend to recommend unanimously that Haynes Shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting as the Haynes Directors have irrevocably undertaken to do in respect of their own beneficial holdings (for the avoidance of doubt, not including the interests covered by the irrevocable undertakings of Family members and Family Settlements summarised directly below) of 79,671 Haynes Shares representing, in aggregate, approximately 0.5 per cent. of Haynes’ issued ordinary share capital (excluding all treasury shares). 
  • Infopro Digital and Bidco have also received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting from Haynes Family members and Family Settlements in respect of a total of 11,115,608 Haynes Shares representing, in aggregate, approximately 73.5 per cent. of Haynes’ issued ordinary share capital (excluding all treasury shares). 
  • Infopro Digital and Bidco have also received irrevocable undertakings to vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting from CriSeren Investments Ltd and Stancroft Trust Ltd in respect of a total of 728,666 Haynes Shares representing, in aggregate, approximately 4.8 per cent. of Haynes’ issued ordinary share capital (excluding all treasury shares). 
  • In addition, Infopro Digital and Bidco have received a letter of intent from AXA Investment Managers UK Limited to vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting in respect of 450,000 Haynes Shares, representing, in aggregate, approximately 3.0 per cent. of Haynes’ issued ordinary share capital (excluding all treasury shares). 
  • Infopro Digital and Bidco have therefore received irrevocable undertakings or letters of intent in respect of a total of 12,373,945 Haynes Shares representing, in aggregate, approximately 81.8 per cent. of Haynes’ issued ordinary share capital (excluding all treasury shares). 
  • Further details of these irrevocable undertakings (and the circumstances in which they shall cease to be binding or otherwise fall away) and letters of intent are set out in Appendix III to this Announcement. 
  • The cash consideration payable by Bidco will be funded from existing cash resources of Infopro Digital. 

  • Raymond James, Infopro Digital’s financial adviser, is satisfied that sufficient resources are available to satisfy in full the cash consideration payable to Haynes Shareholders under the terms of the Acquisition. 

Timetable and Conditions 

  • The Acquisition shall be put to Haynes Shareholders at the Court Meeting and at the General Meeting. In order to become effective, the Scheme must be approved by a majority in number of the Haynes Shareholders voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Haynes Shares voted. In addition, a special resolution implementing the Scheme must be passed by Haynes Shareholders representing at least 75 per cent. of votes cast at the General Meeting. 
  • The Acquisition is subject to the further conditions and terms set out in Appendix I to this Announcement. It is expected that the Scheme will become effective in April 2020. 
  • The Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting, shall be published as soon as practicable and is currently expected to be posted to Haynes Shareholders in early March 2020. The Court Meeting and the General Meeting are expected to be held in March or April 2020. 

Commenting on the Acquisition, Eddie Bell, Chairman of the Haynes Board, said: 

“Haynes has made a highly successful strategic transition to become one of the leading suppliers of content, data and innovative workflow solutions for the automotive industry and motorists. Its strategy and operational execution over the past five years have translated into strong financial performance and shareholder value creation. The Haynes Board believes that the markets it serves have great potential for Haynes’ future growth and development, and that a combination with Infopro Digital will provide Haynes with the scale, capabilities and resources to ensure that it stays at the forefront of these markets and maximises its potential. The proposal from Infopro Digital reflects these opportunities and represents an attractive opportunity for Haynes Shareholders to crystallise an immediate and certain value in cash for their shareholdings, at a significant premium to current and historical share price trading levels.” 

Commenting on the Acquisition, Christophe Czajka, Founder and Executive Chairman of Infopro Digital, said: 

“At Infopro Digital we have long respected Haynes’ spirit of innovation and its reputation for excellence. With a deeply complementary product set and geographic footprint, the combined companies have an opportunity to serve our clients more effectively and to build on both organisations’ history of creating innovative, transformative products that the automotive industry has come to value. We are committed to working together to create a company that will continue to help define the future of automotive data.” 

This summary should be read in conjunction with the full text of this Announcement. The Acquisition shall be subject to the Conditions and further terms set out in Appendix I to this Announcement and to the full terms and conditions which shall be set out in the Scheme Document. Appendix II to this Announcement contains the sources of information and bases of calculation of certain information contained in this Announcement, Appendix III contains a summary of the irrevocable undertakings and letters of intent received in relation to the Acquisition and Appendix IV contains definitions of certain expressions used in this summary and in this Announcement. 

Enquiries: 

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CAT AWARDS 2020: ALL THE WINNERS

CAT AWARDS 2020: ALL THE WINNERS

The 2020 edition of CAT’s annual awards ceremony took place at Manchester’s prestigious Lowry Hotel on 5 February. We celebrated the best our industry has to offer, with awards handed to those who most impressed our judging panel and readers.

Thank you to everyone who joined us for the afternoon, and a huge congratulations to all the winners!

Take a look at who won each category here:

Factor Chain of the Year: Pentland Component Parts

Sponsored by UFI Filters

Garage Concept of the Year Award: Autocare

Independent Garage of the Year: Uckfield Motor Services

Sponsored by Toyota First

Supplier of the Year: Bilstein Group 

Sponsored by Automechanika

Rising Star: Bridgend College students

Industry Partner (as voted by readers): Impression Communications

Retailer of the Year: J G Bestwicks

Outstanding Achievement: Andy Kent, Andy’s Kars

Factor Branch Team of the Year: Wilco Motosave Grimsby 

Sponsored by Boswell

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WILLIAMSON: ‘THREATS NUMEROUS, LEGISLATION SCANT’

WILLIAMSON: ‘THREATS NUMEROUS, LEGISLATION SCANT’

Wendy Williamson, Chief Exec of industry body IAAF has opened the organisation’s annual conference with a warning for the aftermarket.

Addressing challenges relating to cyber security, VM data belligerence, supply challenges in the face of Brexit and a problem raised by car batteries being classified as ‘offensive weapons’ William said: “Today threats are numerous, but legislation scant”.

“But we will find  new ways,  to fit the parts and supply the tools and equipment top service maintain vehicles of tomorrow”. 

The conference continues 

 

 

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BREAKING: KLARIUS CASE THROWN OUT OF COURT

BREAKING: KLARIUS CASE THROWN OUT OF COURT

A significant legal case has been thrown out of court.

Klarius’ Cheadle site

Five directors of Staffordshire-based Klarius had been due to stand trial on charges of fraud at Manchester Crown Court, but it is understood by CAT that the judge did not find information provided admissible, apparently referring to a ‘shambolic failure’ in what was presented and found there was no case to answer.

The charges related to historic claims of ‘knowingly’ selling non type-approved emissions products.

UPDATE: KLARIUS ISSUE STATEMENT

READ: KLARIUS DIRECTORS FACE COURT

READ: BREAKING: STATEMENT ISSUED BY KLARIUS DIRECTORS

 

 

 

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PEOPLE NEWS: NEIL GRANT IS NEW MD AT HELLA

PEOPLE NEWS: NEIL GRANT IS NEW MD AT HELLA

Chipping Warden-based Hella UK has announced its new UK Managing Director, Neil Grant, who will officially begin his latest role in January 2020.

Mr Grant had been the Financial Director  of the company for four years and has a wealth of financial experience behind him.

New Hella UK MD, Neil Grant

READ: HELLA AND PLASTIC OMNIUM SIGN  COOPERATION PACT

He will be taking over from current MD, Matthew Say, who has been leading the UK operation for the past four and a half years.

Commenting on his appointment, Neil said: “I have a great deal of customer knowledge, am aware of the potential growth areas and intend to continue the good work that Matthew [Say] has established. I am therefore, very much looking forward to leading Hella through the next chapter in its journey.”

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CAT AWARDS 2020: FIRST CATEGORY SHORTLIST

These are the first shortlisted categories for the CAT Awards 2020, to be held in the Lowry Hotel on Feb 5th 2020.  The remaining categories will follow later in the month.

 

Garage Concept Award

  1. Terraclean 
  2. Good Garage Scheme ( Forte)
  3. RAC Approved Garage Network powered by Autofirst (ECP)
  4. Service Sure 
  5. Halfords Autocentre 
  6. Auto care 
  7. Quick Lane

 

Factor Chain of the Year

  1. Motor Parts Direct 
  2. General Traffic 
  3. LVW
  4. Euro Car Parts 
  5. GSF 
  6. Pentland Component Parts 
  7. BBC Super Factors (Blackburn, Burnley & Chorley)

 

Supplier of the Year

  1. ZF Aftermarket
  2. Trico
  3. Noco  
  4. GS Yuasa
  5. Mobiletron 
  6. Brembo
  7. Ferdinand Bilstein

 

Industry Partner of the Year

  1. MAM
  2. Elcome
  3. PG Automotive 
  4. Impression Communications
  5. IMI 
  6. Autodata 
  7. Wright Hassall

 

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HALFORDS FORM BUYING PARTNERSHIP WITH FRENCH ALLY

HALFORDS FORM BUYING PARTNERSHIP WITH FRENCH ALLY

UK accessory and parts chain Halfords has announced a new ‘strategic partnership’ with Mobivia, the French company behind European fast-fit brands including Norauto, ATU and Midas. 

The deal will see the two firms working together to source and purchase own-brand products, with the aim of streamlining development and expanding their ranges of motoring and cycling-related products. 

READ: HALFORDS ACQUIRES MCCONECHYS FOR £9.3M

Halfords

Deal with French firm to jointly source and develop new products

Mobivia is hopeful that the move will also benefit customers and consumers, claiming that it ‘will enable both companies to improve the quality and choice of products available’. Additionally, the firms have agreed to continue working with their existing supplier partners on a local and national level. 

Halfords CEO Graham Stapleton claims the new relationship will help the firm to serve ‘customers even better, further improving choice, quality and value’. 

The news comes following Halfords’ recent acquisition of Scottish garage network McConechy’s for £9.3 million, which Stapleton described at the time as ‘highly complementary’ to his company’s existing product and service offering. 

READ: PROFITS SLUMP AT HALFORDS FOLLOWING MILD WINTER

Halfords’ half-year financial results revealed a 2.5 percent profit drop and 2.9 percent revenue decline in the six months leading up to 27 September. 

Mobivia was founded in 1970 as a Lille-based repairs and accessories store. Today, it represents nine brands and 27 start-ups across the automotive sector, with more than 23,000 employees, and 2000 workshops and stores in its network.

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BRISTOL COULD BAN DIESEL

BRISTOL COULD BAN DIESEL

Bristol City Council is consulting on proposals to introduce the UK’s first no-diesel zone by 2021 as part of a drive to improve air quality in the area. 

The so-called Clean Air Zone has been devised as a means of delivering “the fastest possible improvement in air quality against targets for nitrogen dioxide (NO2) legal limits”, according to the council. 

If implemented, the measures would see privately owned diesel vehicles banned from entering a designated section of the city centre between 7am and 3pm every day.

READ: LONDON ULEZ TROUBLES SMALL BUSINESSES

London’s ULEZ has been in place since April 2019

A wider charging zone would be in constant operation for high-emission commercial vehicles, including buses, taxis, HGVs and LGVs, with suggested costs yet to be announced. 

A diesel vehicle scrappage scheme would launch at the same time, to encourage Bristol drivers to swap into less polluting cars. 

The announcement comes two years after Bristol City Council was ordered by the government to produce a plan for bringing the area’s NO2 levels to within legal limits. 

It has been suggested that the Clean Air Zone could bring emissions down to a legal level by 2025. 

Bristol Mayor Marvin Rees said: “These ambitious plans demonstrate our commitment to tackling air pollution so we meet legal limits within the shortest time, without disproportionally affecting citizens on lower incomes which would happen with a blanket approach to charging vehicles.

READ: DIESEL VEHICLES TO BE BANNED IN GERMAN CITIES

“Protecting the most vulnerable people from pollution is central to these plans and we have ensured that all impacts have been carefully considered. If approved, mitigation measures will support those most affected, especially those living in the most deprived communities.”

The predicted cost of implementation of the scheme totals £113.5 million, with comprehensive upgrades to the city’s ANPR network, road marking and signage necessary to its successful operation. 

The proposals will be fully detailed and debated at a meeting of Bristol City Council’s cabinet on 5 November. The final business case is due to be submitted to government in February next year. 

 

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