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

CAT CONVERSATIONS: GARAGE OF TODAY, TOMORROW AND THE FUTURE

Don’t miss out, sign up to CAT’s latest webinar on 21st April right now

Read More

£10 MOT OFFERED BY AGGREGATORS

GoCompare has struck a deal with garage comparison site Who Can Fix My Car

Read More

GS-YUASA IN ‘NEW FOR OLD’ BATTERY PROMOTION

Firm runs social campaign to emphasise the longevity of its products

Read More

ALLIANCE AUTOMOTIVE GROUP ACQUIRES ANOTHER FACTOR

AAG has acquired Minehead Motor Factors, a single branch factor based in Somerset. 

Read More

BREXIT: WAI TO INCREASE BOGNOR WAREHOUSE SIZE BY 40%

South coast-based firm to increase volume of UK stockholding

Read More

Go to comments

Your email address will not be published.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