Tag Archive | "factor"

ANDREW PAGE SECURES EXTRA FINANCE

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ANDREW PAGE SECURES EXTRA FINANCE


andrew page autoparts peoplePSFactor chain Andrew Page Group has secured further funding from its provider PNC Business Credit.

This comes a year after the group agreed a refinancing deal with PNC and the new funding will see its original facility level increase from £40m to £50m to support its growth plans.

In a statement issued by the company, Ed Brookes, CFO of Andrew Page commented: “The new £50m funding package provides additional capital to allow the business to accelerate its strategic growth plans and maintain its momentum.  PNC are a terrific partner to have on board through this exciting stage of our development.”

Jim Sumner, Chairman of Andrew Page said: “Our expansion plans and the confidence of our financial backers is a reflection of the wide experience and hard work undertaken by the management team. The continued focus on the streamlining and efficiencies of our business is paying dividends and we’re at the top of our game.”

The firm, which is backed by private equity houses Endless and Phoenix Equity Partners, operates 108 branches across the UK and at the start of last year stated its intention of expanding through a combination of acquisitions, new branch openings and investing in its on-line presence.

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ECP SIGNS EXCLUSIVE SUPPLY DEAL WITH AUTOLOGIC

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ECP SIGNS EXCLUSIVE SUPPLY DEAL WITH AUTOLOGIC


Component supplier Euro Car Parts has signed a deal with diagnostic tool maker Autologic to distribute the new AssistPlus platform.

The agreement augments Autologic’s own sales team, which will continue to sell the product. However, it does not cover Autologic’s better-known Blue Box platform, which is no longer on sale. Existing Blue Box customers will still be supported by Autologic’s technical team.

Oxon based Autologic has previously won a Queens Award for Enterprise for International Trade and has recently gone through a corporate rebrand following a number of internal changes.

Jeremy Fry, CEO of Autologic, said: “The Autologic Assist fix and support capabilities enable UK garages to repair more cars, faster and more profitably. Customers report that it saves them at least an hour a day, representing an annual saving of £16,500. This prestigious supply agreement with Euro Car Parts will put Autologic Assist in front of thousands of new technicians, where the quality of the product will speak for itself.”
Martin Gray, CEO of Euro Car Parts, said: “We are delighted to announce this exclusive distribution deal with Autologic, particularly with Pass Through so vital to the success of the aftermarket. The Assist product is proven to increase vehicle through-flow, customer satisfaction and revenue. It is exactly the kind of high-end diagnostic equipment that garages should be investing in.

 

Ed’s note: Updated 12/10 to include the fact that Blue Box is no longer on sale. 

 

 

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GSF ACQUIRED BY THE PARTS ALLIANCE

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GSF ACQUIRED BY THE PARTS ALLIANCE


GSF's 62nd branch is located in Middlesbrough

GSF’s 62nd branch is located in Middlesbrough

GSF Car Parts has been acquired by The Parts Alliance in the latest high-profile takeover in the aftermarket.

The addition of GSF’s 75 branches brings the total number in The Parts Alliance network to well over 300, 160 under common ownership, giving the Solihull-based business group increased coverage in the UK and Ireland.

Investment group HgCapital continues to support The Parts Alliance with the acquisition of GSF which will be a wholly-owned business within Group but trade locally under its own brand name.

GSF will continue under the Chairmanship of Stan West and his current management team. Stan West will also join the Board of the Group.

Commenting on the merger, Stan West, Chairman and founder of GSF, said: “This marks a great new chapter in the evolution of the company that I founded in 1977. GSF’s merger with The Parts Alliance and HgCapital’s investment allow us to maintain not only our culture and brand but also helps to create a true market leader.”

Peter Sephton, Chief Executive of The Parts Alliance, said: “This is a hugely significant acquisition which strengthens the product choice, service, value and expertise that we offer to our independent and national customers alike.

“GSF is a dynamic and successful business and I’m delighted to welcome Stan West and his 1,000 colleagues to our growing group. It’s a great match.  We share the same values and both believe in building lasting relationships with customers and suppliers.

“This deal gives us unrivalled coverage: ensuring delivery on the ground to national and independent garages and workshops by people who really understand their local market.”

Stan West added: “I am looking forward to working with Peter and the Board to position the group as a class-leading supplier to the automotive aftermarket.”

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WILCOMOTOSAVE TO OPEN IN SWINTON

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WILCOMOTOSAVE TO OPEN IN SWINTON


100_3260An all-new WilcoMotosave depot is set to open.

The Swinton premises is set for an official opening on August 7. Like other stores in the network, the depot will stock a mix of car care and leisure items alongside a number of fitting bays offering tyres, exhausts and servicing.

Paul Green will manage the retail shop and Richard Palmer is to be the manager of the fitting bays. Both men are new to the Shortis Group.

The 4,500sq foot property is a prominent single story corner site on the Chorley Road, Swinton and a busy radius road that was the former A6.

Operations Director Carl Zajac said: “This is a great site and the staff worked hard to get it up and running in 15 days. Hopefully it will be the first of many on this side of the Pennines”

The former car showroom has been refurbished ahead of the launch, with new windows fitted to give an airy shop feel. Fitting bays are on the side of the building.

As is normal with the Shortis organisation the company owns the site as it has purchased the freehold.

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FACTOR CHAIN HEADS WEST

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FACTOR CHAIN HEADS WEST


bipper van

bipper van

Swansea-based factor chain GMF has opened its 15th branch, creating jobs and expanding its network further into West Wales

The 10,000 sq ft purpose-built distribution unit, which will carry £1 million worth of stock, is at West Estate Business Park in Haverfordwest, close to Withybush Industrial Estate and Haverfordwest Airport.

It is the Part’s Alliance owned chain’s fifth outlet covering the region, and is said to be an ideal location from which to provide a delivery service to the coast and surrounding Pembrokeshire area.

It also allows Carmarthen’s distribution area to extend further north.

Branch manager Steve Moon said: “Having started my career as a 16-year-old at a local motor factor and owned my own classic car components business, I’m excited to return to my roots for what is my biggest and most exciting challenge yet, opening the new Haverfordwest branch.”

GMF is the current holder of the CAT Large Factor of the Year award. It is the only factor to have won this trophy four times.

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SUKHBIR KAPOOR BACK ON ECP BOARD

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SUKHBIR KAPOOR BACK ON ECP BOARD


Component distributor Euro Car Parts has confirmed that Sukhbir Kapoor will return to the company as Vice President (VP) with responsibility for supply chain and e-commerce.

An announcement by LKQ Corporation, which owns Euro Car Parts, confirmed that Mr Kapoor will coordinate the company’s pan-European strategies and activities in supplier relationships, global sourcing, inventory, category management, brands and concepts, cataloging, e-commerce and pricing.

Mr Kapoor re-joins the board of Euro Car Parts after an absence of six months and will work closely with Sator, the Netherlands-based parts distributor also owned by LKQ. He will report to ECP CEO Martin Gray in respect of all UK matters.

Robert L. Wagman, President and Chief Executive Officer of LKQ Corporation, commented: “Sukhbir is a well-known figure in the European auto parts aftermarket and I greatly look forward to working with him again. His knowledge, skills and flair will drive increased efficiency and support our rapid growth, both organically and by acquisition, in various European territories and market sectors.”

Sukhpal Singh Ahluwalia, Chairman of LKQ’s operations in the UK, added: “I am delighted that Sukhbir has rejoined Euro Car Parts. Like me, his heart never left the company. He will hit the ground running and play a key role in the next phase of our exciting expansion, both here in the UK and in Europe.”

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THE PARTS ALLIANCE ACQUIRES CPA

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THE PARTS ALLIANCE ACQUIRES CPA


Buying and distribution group The Parts Alliance has made its eighth acquisition, buying out associate member Car Parts & Accessories (CPA).

CPA, established in 1995, employs 120 people in 12 branches serving Hampshire, Sussex and Surrey. It has a delivery fleet of 60 vehicles and a turnover approaching £12 million.

The acquisition was completed on Friday 26 September with CPA’s Managing Director Keith Anderson and other CPA leaders continuing with the distributor.

CPA becomes part of the Eastern Alliance of HgCapital-owned businesses within The Parts Alliance, the others being Allparts Automotive and SC Motor Factors.

The inclusion of CPA brings the number of branches in the Eastern Alliance to 33. The Western Alliance comprises GMF and CES UK.

James Geldart, newly appointed MD of the Eastern Alliance, said: “I am delighted to have CPA as part of our business portfolio and I welcome all their employees to our family.”

The Alliance businesses work closely together sharing common systems and best practice but trade locally under individual brand names.

The acquisitions are completed by the takeover of Bromsgrove Motor Factors, in June, and 15 branches from the former Unipart Automotive.

Peter Sephton, Chief Executive of The Parts Alliance, said: “CPA is a great business with an exceptional commitment to customer service.

“We have been working closely with Keith Anderson and his team to bring them into our family of businesses. At The Parts Alliance we invest in our people and it is clear from the dedication and camaraderie of the team at CPA that they will fit straight in.

“Joint owner Nick Best has chosen this moment to retire and we wish him well and thank him for his great contribution.”

Keith Anderson said: “We are looking forward to integrating further with The Parts Alliance and becoming an even greater business as the group expands into a market leader.”

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AP ADDS NEW BRANCH TO NETWORK

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AP ADDS NEW BRANCH TO NETWORK


Following its recent rebranding exercise, parts distributor Andrew Page has opened an outlet in Southampton. The new site has created 20 jobs in the area.

Excluding outlets acquired from the former Unipart Automotive, the new branch will be the first opening for Andrew Page in two years.  Additionally, the outlet will be the first to carry the new logo and ‘Autoparts People’ branding announced by the firm exclusively in CAT in July.

“The Southampton site is something we have been working on for a little while now, and enables us to extend the reach of our network,” said Simon Mullin, Sales & Marketing Director of Andrew Page. “This site will help Andrew Page to fill a hole left by the recent closure of Unipart Automotive in Southampton. Across the UK we were able to save 21 of the Unipart sites, and the opening of this new site in Southampton takes us to 115 branches nationwide. This allows us to provide more jobs for the best talent in the industry.”

Last month rival chain Euro Car Parts announced the opening of two new sites in Falkirk and in Boston, Lincs creating 60 jobs. Both of these locations were also near recently closed UA sites.

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