Tag Archive | "AAG"

GL MOTOR FACTORS ACQUIRED BY AAG

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GL MOTOR FACTORS ACQUIRED BY AAG


Bolton-based GL Motor Factors, a single branch factor and retail shop, has been acquired by AAG.

The firm was an existing member of GROUPAUTO for years and won Factor of the Year in the coveted light vehicle category at the buying group’s award ceremony in Liverpool last month.

GL Motor Factors was incorporated in 2002 and had Mohammed Akhtar and various members of the Fazal family as Directors.  

Posted in Factor & Supplier News, Garage News, Latest News, News, UncategorisedComments (0)

DCS LEATHERHEAD BECOMES LATEST AAG ACQUISITION

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DCS LEATHERHEAD BECOMES LATEST AAG ACQUISITION


Leatherhead-based Discount Car Spares has been acquired by AAG, parent company of the GroupAuto buying group.

The factor was established in 1989 and has two branches. John and Gary Syrett and Robert Herman were Directors.

DCS was an existing GroupAuto member and participated in group promotions, such as the AutoCare network. Last year the factor presented customer Shirley Garage with a prize for becoming the 600th member of the scheme.

The news follows last week’s announcement that AAG had acquired nine-branch Lloyds Motor Factors 

 

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LLOYDS MOTOR SPARES SOLD TO AAG

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LLOYDS MOTOR SPARES SOLD TO AAG


Alliance Automotive Group has acquired the Wembley-based factor chain Lloyds Motor Spares (LMS). Terms of the deal have not been announced.

LMS can trace its history back to 1946. It has nine branches in West London and counts utility companies and the police among its fleet contracts. The chain currently employs 110 people and up until the acquisition counted John and Rod Hammond and Peter Benson among its Directors. It had previously been a member of the IFA buying group. 

The deal follows on from AAGs acquisition of a number of aftermarket brands over the last few months, including battery distributor Platinum International in October and Abergavenny-based Motorcare Motor Factors in July.

 

 

Discount Car Spares also acquired by AAG

 

Leatherhead-based Discount Car Spares has been acquired by AAG, parent company of the GroupAuto buying group. 

The factor was established in 1989 and has two branches. John and Gary Syrett and Robert Herman were Directors.

DCS was an existing GroupAuto member and participated in group promotions, such as the AutoCare network. Last year the factor presented customer Shirley Garage with a prize for becoming the 600th member of the scheme.

The news follows last week’s announcement that AAG had acquired nine-branch Lloyds Motor Factors

 

 

 

 

 

 

Posted in Factor & Supplier News, Garage News, Latest News, News, Retailer News, special newsComments (0)

AAG ACQUIRES PLATINUM INTERNATIONAL

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AAG ACQUIRES PLATINUM INTERNATIONAL


The Alliance Automotive Group (AAG) has acquired battery distributor Platinum International. Terms of the deal have not been disclosed.

Previously known as UK Batteries, Platinum International was formed in 2002 by Chris Taylor following the sale of a previous battery venture. Speaking about the acquisition, he said: ““I am delighted to see Platinum become part of AAG, especially with its reputation as a leader in the UK market. Platinum has been built over a long period of time and I would like to thank my team for their hard work and contribution to making the business a success. The development of Platinum is also a testament to how much support and loyalty we receive from our customers and suppliers and I am convinced that, together with AAG, Platinum will continue to achieve great things. I am confident that I’ve found the best long-term home for the business.”

AAG, which is owned by the U.S based Genuine Parts Company, has made a number of acquisitions in the UK over the year to date, most of which have been all-makes motor factors. Platinum joins Apec Braking and BTN Turbo as AAG’s specialist distributors.

Steve Richardson, Managing Director of AAG UK stated, “We are excited to welcome Platinum into our UK business and to strengthen our position in the UK battery market. We have tremendous respect for Platinum as a long standing supplier to our Group and are confident the integration of the company into AAG will add value for all our customer and lead to long term, sustainable, growth. Platinum has a strong and talented management team and is an excellent strategic fit for our group”.

 

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MOTORCARE MOTOR FACTORS ACQUIRED BY GROUPAUTO PARENT

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MOTORCARE MOTOR FACTORS ACQUIRED BY GROUPAUTO PARENT


Abergavenny-based Motorcare Motor Factors has been taken over by AAG, parent of the GroupAuto buying group.

The Motorcare chain comprises of six branches in Wales and the West of England. A branch in Brecon was opened as recently as April of this year.

Motorcare Discount (as it was originally known) was founded in 1984 in Abergavenny by Allen Bailey as an accessory and parts retail store, catering mainly for DIYers. In common with many parts shops it started doing an increasing amount of trade work, and it moved to an industrial unit in the mid-1990s.

Further branches followed from 2010 onwards, and the family-run chain picked up several GroupAuto member awards, including Member of the Year for the large factor, light vehicle category in 2017 (pictured)

Bob Ackroyd Managing Director GROUPAUTO, Justin Bailey and Simon Bailey of Motorcare Motor Factors.

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BREAKING: AAG ACQUIRED BY GENUINE PARTS COMPANY

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BREAKING: AAG ACQUIRED BY GENUINE PARTS COMPANY


BREAKING:  The following statement has been released by Genuine Parts Company:

ATLANTA and LONDON, September 25, 2017 — Genuine Parts Company (NYSE: GPC) (“the Company”) and Alliance Automotive Group (“AAG”), a leading European distributor of vehicle parts, tools and workshop equipment, announced today that they have entered into a definitive agreement under which Genuine Parts Company will acquire Alliance Automotive Group from private equity funds managed by Blackstone and AAG’s co-founders.  The acquisition is valued at a total purchase price of approximately $2 billion, including the repayment of AAG’s outstanding debt upon closing. The transaction has been approved by the Board of Directors of GPC and is expected to close in the fourth quarter of 2017, subject to the satisfaction of customary closing conditions and applicable regulatory approvals.    

AAG is the second largest parts distribution platform in Europe, with a focus on light vehicle and commercial vehicle replacement parts.  Headquartered in London, AAG has 7,500 employees and over 1,800 company-owned stores and affiliated outlets across France, the U.K. and Germany. AAG has a consistent track record of organic revenue and earnings growth supported by strategic investments based on a proven M&A strategy to gain scale, efficiencies and geographic coverage. 

AAG is expected to generate gross annual billings of approximately $2.3 billion (US$) including supplier direct billings, or $1.7 billion of revenue on a U.S. GAAP basis in 2017.  Additionally, the Company expects the acquisition to be immediately accretive to earnings in the first year after closing.  For 2018, incremental diluted earnings per share is estimated at $0.45 to $0.50 and adjusted earnings per share is estimated at $0.65 to $0.70, which excludes the amortization of acquisition-related intangibles.  The Company expects to incur one-time transaction costs in the fourth quarter of 2017.  

Paul Donahue, Genuine Parts Company’s President and Chief Executive Officer, stated, “We are excited to combine with AAG and enter the European markets with critical scale and a leading market position in the automotive aftermarket.  AAG is poised to contribute significant sales growth and earnings accretion to Genuine Parts Company and also serves to enhance the GPC platform for long-term, sustainable expansion across the global automotive parts industry.  AAG has a strong management team and a deep bench of talent, and our similar cultures and histories make this acquisition an excellent strategic fit. We are confident this business investment will create significant value for our shareholders, and we welcome the AAG team to the Genuine Parts family.  We look forward to their future contributions to our ongoing success.”

Jean-Jacques Lafont, Chairman, Chief Executive Officer and co-founder of Alliance Automotive Group, said, “The AAG team has tremendous respect for Genuine Parts Company and its well-deserved reputation as a long-standing leader in the automotive parts industry.  We are very pleased to combine our two great businesses and leverage our collective resources and expertise to accelerate growth.  AAG’s success is a testament to the hard work and dedication of our wonderful employees, without whom this transaction would not be possible. I am confident that, together, we will achieve great things and continue to provide the highest quality parts and service to our combined customers across the globe.” 

Lionel Assant, Head of European Private Equity at Blackstone, said, “Over the past three years, AAG has experienced tremendous growth and transformed into one of Europe’s leading automotive parts distributors.  We would like to thank AAG’s management team led by Jean-Jacques Lafont and Alistair Brown for their vision and leadership as well as all its staff for their exceptional efforts.  We have no doubt that the business will go on to further growth under Genuine Parts Company, which is the right partner to support AAG’s continued success.” 

The Company intends to finance the transaction, including the pay-off of AAG’s existing debt arrangements, with approximately $2 billion of debt financing.  This will include the combination of new term loan agreements, new multi-currency debt and an upsized revolving credit facility

 

We’ll have more analysis on this breaking story soon.

 

 

 

 

 

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GAU PARENT ACQUIRES FRENCH BREAKERS’ YARDS

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GAU PARENT ACQUIRES FRENCH BREAKERS’ YARDS


equipe-geneve-devant-facade-2Alliance Automotive Group has announced that it has acquired Geneve Occasion, a large-scale dismantler of end-of-life vehicles. The facility has outlets in the French towns of Niort and la Rochelle.

This acquisition is part of a new development in the Group’s to expand its scope of activity in the parts recycling sector. Beginning 1st of January of 2017, a law on ‘energy transition’ in France requires all professionals involved in the maintenance and repair of vehicles to offer consumers recycled parts or remanufactured parts.

Despite the name, Geneva Occasion has no connection with Switzerland. Annually, the business dismantles 6,000 light vehicles and indexes the core and body panels for traceability. Company President Francois Logeay will remain with the firm following the transition to the new owner.

“Our Group will be an important actor in this sector,” commented Eric Girot, Managing Director of Alliance Automotive Group – France.   “This investment will enable us to meet the future needs of our distribution networks, namely Groupauto, Partners, Precisium Gef’Auto as well as our repairer networks and insurance partners. Geneva Occasion’s performance is built upon a long and solid relationship with insurers. By means of this acquisition, we intend to offer a ready-made solution for customers looking for structured channels in the spare parts recycling sector” he said.

The acquisition follows on from a string of high-profile acquisitions by AAG in recent months. Notably, the Group acquired wholesaler FPS along with Apec Braking and BTN Turbo from Lookers PLC in August.

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