RAPID GROUP FOUNDER SOLD TO GROUPAUTO PARENT

Carlisle-based motor factor chain TMS has been sold to Alliance Automotive Group (AAG), the parent company of the GROUPAUTO and UAN buying groups.

The 24-branch factor is active over Northern England and Southern Scotland. Terms of the deal have not been announced.

TMS Motor Spares Ltd started life as Teviot Motor Factors Ltd in the 1970’s when two of the current Directors bought a factors franchise.  A change of ownership led to TMS Motor Spares being set up in 1996 with a single branch (Annan). The business’ approach to trade factoring was a success and lead to expansion, resulting in the formation of the Rapid buying group in 2005.

AAG also announced the acquisition of three other Scottish single-branch factors that were already existing members. These are Livingston Autoparts Ltd, WD Motor Factors based in Dunfermline and Alloa-based Bridge Motor Factors.