Standard Motor Products breaks from parent in MBO

Roy Botterill, a partner at law firm Harvey Ingram, has led a management buyout of Standard Motor Products Europe Ltd from its US parent SMP Inc.

The move comes after SMPEU moved to new purpose-built headquarters at Sherwood Park in Annesley, near Nottingham.

Under the deal, all jobs are safeguarded and the company now plans to expand its services across Europe, the Middle East and Australasia.

“[SMPEU] is in great shape, with a very ambitious and forward-thinking management team,” said Botterill.

SMPEU group finance director Suky Chahal added: “It’s a very timely move and creates a superb opportunity for us to press ahead with our on-going expansion plans.

“The company is an extremely good position to increase the range of products and services we offer the automotive industry.”