Tag Archive | "Alliance Automotive Group"

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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LDS ACQUIRED BY GROUPAUTO PARENT

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LDS ACQUIRED BY GROUPAUTO PARENT


LDS website

South Wales-based motor factor LDS appears to have been acquired by Alliance Automotive Group, parent of Groupauto.

Neither party has issued a statement as of yet (AAG usually issues quaterly round- ups of its activities) however, Companies House Lyndon Smith, Louise Smith and Wayne Thomas were terminated as Directors in July, while John Coombes, the Finance Director at Alliance Automotive Group was appointed Director on the same day. Additionally, the registered office details have been changed to AAG’s Birmingham HQ.

LDS was formed in 1990 and the first branch was in Barry. Over the years the company grew to three branches, the largest of which was a new site in Barry measuring 19,000sq ft. A merger in 2014 with factor Normag led to the creation of a branch called LDS Normag. At the time of writing, the chain consists of 30 vans and 60 staff. It has enjoyed a good relationship with Groupauto, winning the coveted ‘Member of the Year’ award in 2014.

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BREAKING: AAG TO ACQUIRE CONTROLLING SHARE OF GROUPAUTO POLAND

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BREAKING: AAG TO ACQUIRE CONTROLLING SHARE OF GROUPAUTO POLAND


The following statement has just been issued by the Alliance Automotive Group:

 

“GROUPAUTO Polska (GAP) and Alliance Automotive Group (AAG) are pleased to announce that AAG has entered into an agreement to acquire a 51.3% controlling shareholding in GAP. The agreement is subject to the approval of the Polish Competition Authority.  It is expected that this approval will be received within the next two months.”

“Jean-Jacques Lafont, the CEO of AAG said: “We are delighted to open this new page in the development of our Group.  This is the first step in our entry into the large and growing Polish market with exciting opportunities to replicate what we have done in our existing markets in the United Kingdom, Germany and France.  We are particularly happy to be partnering with the historical shareholders of GAP as well as their talented management team led by Mariusz Dankowski and Luiza Kaminska.” “

“Mariusz Dankowski said: “The shareholders and management of GAP are extremely pleased to bring AAG into our Group. This is a natural progression of a relationship that GAP and AAG have developed over many years within the Groupauto International family and we see many opportunities to benefit from AAG’s size and dynamic growth to develop and strengthen our position in the Polish market.””

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ALLIANCE AUTOMOTIVE GROUP ANNOUNCES FURTHER ACQUISITIONS

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ALLIANCE AUTOMOTIVE GROUP ANNOUNCES FURTHER ACQUISITIONS


Alliance Automotive Group, parent of Groupauto has announced that it has made three UK acquisitions in the UK.

The first and largest is North-West factor chain Auto Battery Services.
The long-established business has branches in Rochdale, Chester, Ellesmere Port, Sheffield, Stockport, Thameside and Oldham and has sales of EU 11.6m

AAG also acquired Bromley-based Southern Motor Factors. This two branch light vehicle parts distributor has a branch in Crayford as well as in Bromley.

The final business to be acquired in this period is Havant Motor Factors. This single branch has been in business for 25 years and employs a modern cataloguing system. It reports sales of
EU 2.9m

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TOTAL LUBRICANTS CO-BRAND GROUPAUTO MEMBER’S VANS

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TOTAL LUBRICANTS CO-BRAND GROUPAUTO MEMBER’S VANS


Leicestershire based multi-site factor All Vehicle Parts received delivery of a new dual branded Peugeot Partner at the Auto Care Show in Cardiff last Friday.

The van contains the graphics of Total Lubricants, a brand recently taken up by GroupAuto and a new key supplier All Vehicle Parts. A new strategy across the buying group’s members is to have a single brand take up 50 percent of panel space on the vehicle, with the remainder used for the factor and GAU’s logos.

Lee Dunkley, Sales & Operations Manager explained: “Previously, most factors, including us, would have vans branded in our own scheme with a few supplier logos on them. However the logos seem to get lost in the layout and did not add any benefit, so we felt we needed to change this and not to let our biggest advertising asset go to waste”.

Explaining the switch to Total, Dunkley said: “We had been a Millers Oils distributor for a considerable amount of time with great success, so when Millers decided that they did not want to be a GroupAuto approved supplier it caused a great deal of anxiety initially.”

“We were approached by numerous oil suppliers and we had to make a decision on who would be our supplier for the considerable future, as the days are gone of stocking a dozen different oil brands”

“Some suppliers also quoted that an oil is approved but couldn’t provide any proof of that being the case, whereas with Total if an oil is approved, a signed, dated certificate from the vehicle manufacturer which also contains an expiry date is available for us to give to our customers for further piece of mind.”

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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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GROUPAUTO TRADE SHOW AWARDS WINNERS

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GROUPAUTO TRADE SHOW AWARDS WINNERS


06102016ga_1300_lds2This year, the joint GroupAuto and UAN Gala Dinner and Awards was the first corporate event to be hosted in the newly expanded Main Stand at Anfield, home of Liverpool Football Club. The evening kicked off with pre-dinner drinks – sponsored by Denso – in the brand new Chemistry of LFC suite which overlooked the pitch. Liverpool legend John Aldridge was present at the drinks reception for photo opportunities with the Champions League cup. Guests then made their way to dinner in the gala dinner room, where they enjoyed a three course meal and drinks amongst fellow members and suppliers.
The meal was followed by the Member & Supplier of the Year Awards and the BEN Charity Fundraiser. Toby Whewell, GroupAuto Commercial Sales Manager and Karen Martin, UAN Sales Manager, presented the awards and commended the nominees in each category for their commitment to the group this year.

WINNER – David Huggett Motor Factors Ltd

The Nominees – David Huggett Motor Factors Ltd, Anglesey Commercial Spares Ltd, Commercial Motor Products Ltd, CV Parts, Hydrair Truck & Trailer Parts

LV Member of the Year (£3m+ approved supplier purchases)

WINNER – LDS Motor Factors

The Nominees – Livingston Autoparts, D & A Factors (Dundee) Ltd, GL Motor Factors Ltd, Highland Motor Parts Ltd, Motorcare Motor Factors Ltd, LDS Motor Factors

LV Member of the Year (Up to £3m approved supplier purchases)

WINNER – M1 Motor Parts Ltd

The Nominees – Kingswood Autopart Ltd, MGM Motor Components Ltd, M1 Motor Parts Ltd, North West Motor Factors Ltd, SW Motor Factors, SRS Autoparts

SUPPLIER OF THE YEAR

LV Supplier of the Year

WINNER – Apec

The Nominees – Banner Batteries, Apec, Exol Lubricants, FPS, Juratek, TMD Friction

CV Supplier of the Year

WINNER – LED Autolamps

The Nominees – LED Autolamps, TMD Friction, Winnards

Congratulations to the winners and nominees in every category.

Nigel Williams from the industry charity BEN followed the awards with a few words on recent developments and how they see the charity growing in 2017 with the help of fundraising activities. Firstly, Lumag presented a cheque for £3,114.20 to Nigel Williams for their fundraising activity this year, which together with the money raised on the gala dinner night, saw a total of £7,114.20 presented to the BEN charity at the end of the evening.

Nigel then hosted the final part of the evening; guests were asked to stand to play ‘Heads or Tails’.

Game 1 winner – Elaine Aylott from Car Spares Cheshunt won a Bosch Cordless Pack worth £500, donated by Bosch.

Game 2 winner – Simon Clarke from BRT Group won a GIANT Mountain Bike donated by Bilstein Group.

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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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GROUPAUTO SHOW NEWS: TOTAL JOINS BUYING GROUP

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

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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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