Tag Archive | "acquisitions"

VALEO ACQUIRES GERMAN START-UP

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VALEO ACQUIRES GERMAN START-UP


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Automotive parts supplier Valeo has announced the acquisition of Gestigon – a German start-up company specialising in vehicle cabin 3D image processing software. Terms of the deal are yet to be disclosed.

The firm said the joint venture will prove a valuable asset to Valeo’s automated drive strategy, allowing the company to further develop its cabin comfort and driver assistance operations. The parts manufacturer also plans to utilise Gestigon’s software to provide a comprehensive offering of object and occupant detection features for autonomous and connected cars in the future.

“We are delighted to welcome gestigon to the Valeo community,” said Marc Vrecko, head of Valeo’s Comfort and Driving Assistance Systems Business Group. “By combining our skills in a larger team, we will sharpen our edge and reinforce our leadership in autonomous and connected cars.”

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AAG ACQUIRE MULTIPLE FACTORS WITH TURNOVER OF EU 44.1M

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AAG ACQUIRE MULTIPLE FACTORS WITH TURNOVER OF EU 44.1M


Trading organisation, Alliance Automotive Group has confirmed that it acquired six UK businesses in the last quarter worth a total turnover of EU44.1m, with another two more recent purchases yet to be confirmed.

The 19-branch Mill Auto was the best-known acquisition by the trading group, with the annual turnover amount confirmed as EU 36.7m. The next highest value was Stockport-based CV Parts with turnover of EU 2.1m.

Other light vehicle distributor acquisitions include Keighley-based KG Motaquip, Hartlepool-based Advanced Motor Components and Newcastle upon Tyne based Northumbrian Motor Factors, each of which are single-branch factors.

Cargo Motor Factors, based in Newcastle under Lyme in Staffordshire was also bought.

Within the past week, there have been reports that a multi-branch factor in the North of England and a single branch firm in the South East have also been acquired.

Ed’s note: An earlier version of this story confused sale price and turnover. Apologies for any confusion it may have caused. 

 

 

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AUTODATA ACQUIRED BY SOLERA HOLDINGS

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AUTODATA ACQUIRED BY SOLERA HOLDINGS


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Vehicle info firm Autodata has been acquired by Texas-based software company Solera Holdings Inc. The transaction amount is reported to be £340m.

Solera acquired the firm from private equity firms Bowmonk Capital and Five Arrows who in turn bought the company for a reported £143m through a competitive auction in 2014.

The Texan firm already owns Carweb which is the company behind E3 Technical, one of the other vehicle info services in the UK.

Founded in 1975, UK-based Autodata has evolved from publishing  do-it-yourself manuals for car enthusiasts and garages, to delivering  cloud-based diagnostics and repair info for professional technicians.

“Today’s motorists expect automotive service professionals not only to understand every vehicle make and model, but also to provide a faster and more accurate service at highly competitive prices,” said Rod Williams, CEO of Autodata. “Joining the Solera family will not only amplify Autodata’s ability to meet the growing needs of the industry, but will also provide our customers and partners with access to Solera’s highly innovative mindset and forward-thinking solutions.”

“Vehicles are not only being driven longer than ever before, but are becoming more technologically advanced and digitally sophisticated,” said Tony Aquila, Solera’s founder, Chairman and CEO. “The SMR industry must be prepared to manage this evolution in mobility with the right mindset, equipment and training. Solera’s integration of Autodata will accelerate delivery of the data and software that the global SMR marketplace needs today, as well as the innovative technologies and solutions that the industry will need tomorrow.”

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WATERLOO ACQUIRED BY PARTS ALLIANCE

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WATERLOO ACQUIRED BY PARTS ALLIANCE


Waterloo Motor Factors has been acquired by private equity-backed business group The Parts Alliance. The East-Riding based business has branches in Hull, Beverley and Bridlington and was founded in 1928 by James Henry Munday.

It becomes a wholly-owned business within the HgCapital-owned Parts Alliance Group but will continue to trade under its own name. David Brooks, founder of SAS Autoparts will take over day-to-day running of the firm.

Current MD Jim Munday said: “As a three-generation family business, building long term relationships and providing quality local service are in our DNA. We look forward to working with (PA CEO) Peter Sephton and the rest of the management team to accelerate our growth in what are very exciting times for our trade.”

Peter Sephton said: “I’m delighted Jim Munday has agreed to work with us to facilitate the integration into The Parts Alliance and the transition of leadership to David Brooks, founder of SAS Autoparts, as we seek to extend our branch footprint and optimise our distribution and reach into the region”.

“Jim will continue to advise us on development projects and we are delighted to have Jim and his colleagues at Waterloo as part of our Group.”

The factor was previously a member of the IFA buying group. The change of ownership will see a number of different brands filling the stockroom.

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AUTOSTORES GROUP ACQUIRES BARUM AUTOPARTS

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AUTOSTORES GROUP ACQUIRES BARUM AUTOPARTS


Barum barnstableSouth-West based factor chain Barum Autoparts has been acquired by the Autostores Group. Terms of the deal have not been disclosed.

The six-branch chain was started in Barnstable in 1990 by David Payne and David Knight. A previous nominee for the Factor of the Year CAT Award, the group also includes  Mike Best Auto Components in St. Austell.

Confirming the acquisition, Autostores MD Alastair Whatmore  said: “This will be a positive addition to our own company and we are looking forward to working with the Barum team, customers and suppliers in the future”.

Whatmore also noted that the acquisition would be a ‘welcome addition’ to the Parts Distribution Partnership (PDP) buying group, which he also chairs. The PDP had been seeking new members since the departure of Pat Williams, Partservice and others earlier in the year.

 

 

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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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RING AUTOMOTIVE ACQUIRES CARNATION DESIGNS

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RING AUTOMOTIVE ACQUIRES CARNATION DESIGNS


Ring Automotive has announced the acquisition of vehicle electrical system conversion company Carnation Designs.

The agreement, which will see Ring acquire the trade and specified assets of Carnation Designs, will allow both organisations to pool their resources and skills to develop their business. Carnation Designs, best known for converting vehicles for use as panda cars and ambulances, will benefit from access to increased investment and support in new product development, while for Ring the step will increase its presence in the vehicle conversion market.

Richard Morley, Business Unit Director at Ring, said: “As a progressive brand that is always looking for opportunities to extend our range of specialist products, it made perfect sense for us to acquire Carnation Designs. The business has a strong brand with the Genisys system, and we want to work together to strengthen both organisations and the opportunities that we have in the vehicle conversion sector.

“Bringing together the experience and skill sets of both organisations, the acquisition will allow for the knowledge transfer of specialist vehicle conversion applications to the fleet markets.”

Richard Yates, Business Development Manager from Carnation Designs, comments: “We are pleased to announce the acquisition by Ring, which reinforces our commitment to technically advanced systems that benefit our customers working in specialist vehicle markets.”

“Working alongside Ring will allow us to invest in the future development of our products. We are very excited by the opportunities that this combined knowledge and focus will present. All of the Carnation Designs team is excited to be joining Ring and working closely with them.”

Craig Pettit at Squire Patton Boggs Leeds office provided legal advice to Ring management and Jeff Gardner at Dow Schofield Watts Transaction Services provided financial due diligence services.

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ANDREW PAGE TAKEOVER: STATEMENT FROM ECP PARENT

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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

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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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ECP TAKEOVER OF ACCESSORY WHOLESALER ARLEIGH INTERNATIONAL

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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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