Alliance Automotive Group (AAG) has agreed to acquire Netherlands-based PartsPoint Group.
PartsPoint Group, currently a subsidiary of family-owned AutoBinck, has activities in the Netherlands and Belgium. It operates a network of 150 branches under the network banners of Brezan, Staadegaard-TC and Dabeko. The company also serves 60 independent wholesalers through its national and regional distribution centres. It has annual revenues of approximately €300 million.
Jean-Jacques Lafont, CEO of AAG said “PartsPoint has a leading market position in the two key European markets of The Netherlands and Belgium markets which are contiguous to our existing operations. It is run by a superb management team which I am sure will develop further growth opportunities in its markets. We are pleased that the PartsPoint management team is committed to staying on board to lead the company into this next phase of its development”.
Cor Baltus, CEO of PartsPoint said “We are grateful to AutoBinck which supported us during our rapid expansion. With their trust and confidence, we have been able to relaunch the business since 2013. We are pleased to become a part of one of the leading aftermarket groups in Europe which will enable us to continue to grow and to invest in marketing, IT and product development to service our customers even better in the years to come”.
The transaction is subject to customary closing conditions including the relevant regulatory approvals and consultation with unions.