ANDREW PAGE COMPLETES £40M REFINANCING DEAL

AP SouthamptonLeeds-based factor Andrew Page Group has completed a £40m refinancing with equity firm PNC as it looks to accelerate its growth plans.

The firm said the deal came on the back of a successful 2014 when the group acquired 21 former Unipart Automotive branches, entered into a strategic collaboration with Unipart Group and also strengthened its senior management team with the appointment of Jim Sumner, who joined from Optare.

The firm, which is backed by private equity houses Endless and Phoenix Equity Partners, operates 114 branches across the UK and stated it’s intention of expanding through a combination of acquisitions, branch openings and a new franchise model.

Chairman Jim Sumner said: “The £40m funding package provides additional capital to allow the business to accelerate its strategic growth plans and maintain the phenomenal momentum we have achieved over the past 12 months.

“PNC are a terrific partner to have on board through this exciting stage of our development.”

The refinancing was confirmed in the same week as the group completed the rebranding of all Camberley Auto Factors branches under the Andrew Page name.

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

NEXUS ‘VIRTUAL DAYS’ EVENT ATTRACTS 1,000 VISITORS

Online event declared a success by the buying group

Read More

CV FACTOR JOINS IAAF

New CV member for industry federation

Read More

IAAF INDUSTRY BRIEFING THIS THURSDAY

Final call for the latest instalment of ‘bitesize’ state of the industry session

Read More

DVSA STATEMENT: MOT TESTING IN WALES

Welsh test centres can remain open, test frequency unaffected

Read More

IAAF’s BLEASDALE WARNS INDUSTRY OVER BLOCK EXEMPTION REVIEW

Board member warns against complacency, calling the legislation ‘central to ensuring a level playing field in the automotive aftermarket’

Read More

Go to comments

Your email address will not be published. Required fields are marked *